Bitcoin slump and US Senate AI security bill

Bitcoin ended the first half of 2024 down 34% year‑to‑date, falling below $58,000 after a 20% drop in June. The decline marked a sustained six‑month downtrend that contrasted with the Nasdaq’s 12% gain over the same period.

Spot Bitcoin ETFs recorded eight consecutive days of net outflows, led by a $300.38 million withdrawal from BlackRock’s IBIT fund. Total net outflows reached $231.1 million, while some alt‑coin ETFs attracted modest inflows.

In Washington, two Republican senators introduced legislation to tighten U.S. export controls on artificial‑intelligence models, software and critical infrastructure. The bill would expand the Commerce Department’s authority to block transfers of AI technologies to foreign rivals such as China, following the recent passage of the GENIUS Act on stablecoins.