A mining expert explained the fall of bitcoin by investors' interest in AI stocks

Since the beginning of 2026, bitcoin has lost 16.3% of its value and has been trading in a sideways range for more than four months. One of the main reasons was the redistribution of investor interest in favor of the American stock market amid the boom in artificial intelligence (AI) technologies. Alexander Baryshnikov, the manager of the Mining fund of the Record Capital Management Company, told Izvestia on May 29.

"The S&P 500 and Nasdaq-100 indexes are updating historical highs, while the cryptocurrency market remains under pressure. According to Baryshnikov, institutional investors prefer assets with a more understandable growth history, which is why funds flow from cryptocurrencies into shares of technology companies," the expert explained.

Baryshnikov added that from May 15 to May 28, $2.659 billion was withdrawn from spot bitcoin ETFs. According to the expert, this indicates not a panic in the market, but a rotation of capital. Additional pressure on cryptocurrencies is exerted by expectations of further policy tightening by the US Federal Reserve System.

One bottom: is it worth buying Bitcoin, which has started to grow

And how is the collapse of the cryptocurrency in early 2026 radically different from the previous ones?

The expert believes that bitcoin has a short-term window for growth until June 16, but then the pressure on the market may increase. If the price does not show a rebound in the coming days, this could be a bearish signal for June. In this case, according to him, the base scenario will be a decline to the level of about $ 70 thousand, and if sentiment worsens, the market may test the $60 thousand mark again.

According to the expert's forecast, in June, bitcoin is likely to continue moving in the range of $ 70-79.5 thousand, unless strong external factors appear. Among the key drivers, he named the news on the Iranian-American negotiations and the dynamics of flows in ETFs.

At the same time, Baryshnikov noted that the mining industry continues to actively modernize. According to him, large data centers in the United States, Russia and other countries are increasing computing power and upgrading infrastructure in the first half of 2026, taking advantage of favorable price conditions and switching to a model of independent mining of digital assets.

On May 26, Bloomberg reported that the Bitcoin implied Volatility Index (the level of price fluctuations expected by the market) Bitcoin Volmex Implied Volatility Index dropped to its lowest level since September 2025 amid weakening investor interest in the cryptocurrency. The decline occurred against the background of the fact that bitcoin cannot gain a foothold above $ 80 thousand. To date, the cryptocurrency is trading at about $77 thousand, which is almost 40% lower than the record $126 thousand reached in October 2025. Pressure on the market also intensified after investors began withdrawing money from American funds related to bitcoin.