COINDESK DAILY: BTC Tumbles Below $63K; BVM Brings AI to the Bitcoin Network

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 19 March 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Host Jennifer Sanasie breaks down the latest news in the crypto industry from the slip in BTC price to BVM's effort that brings AI to the Bitcoin network. To get the show every day, follow the podcast here. "CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including the slip in bitcoin that sent the largest cryptocurrency by market cap below $63,000. Plus, the latest on Bitcoin Virtual Machine's (BVM) release of a platform that allows users to spin up AI models. And, the Binance saga continues in Nigeria. - Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Register now at consensus.coindesk.com. - This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:51.4	Bitcoin drops under $63,000 leading to a market-wide correction that saw the overall
0:57.4	capitalization drop 8% in the past 24 hours.
1:01.0	The losses came after a day of large outflows from the gray scale Bitcoin ETF and
1:05.3	lower than usual inflows on other ETF products on Monday.
1:09.2	On-chain analysis firm CryptoQuant said on X, Bitcoin short-term holders or users that hold
1:14.9	tokens for less than five months took profits in the past week, which may have contributed
1:19.6	to the selling pressure.
1:21.5	Bitcoin Virtual Machine or BVM, a Bitcoin Layer 2 project, will soon let users create AI models on the Bitcoin network.
1:30.3	The platform called Truly Open AI will allow users to deploy AI models for use in crypto apps.
1:37.3	Lead developer, Punk 3,700 said we figured out a way to put AI on chain,
1:42.1	adding it's the same, but with a much bigger impact than putting
1:45.7	JPEGs on chain like ordinals. The developer said that Filecoin Neer avail Polygon and
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