# Geopolitics Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Geopolitics", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

February 24 Market Summary: IBM Becomes the New AI Victim, Crypto Market Suffers Confidence Blow

February 24 Market Summary: IBM becomes the latest AI victim, crypto market suffers confidence blow. Global markets faced a dual shock post-Lunar New Year. Former President Trump announced an immediate increase in global tariffs from 10% to 15%, causing policy uncertainty and straining transatlantic trade relations. Simultaneously, Anthropic's release of Claude Code, which automates modernization of legacy COBOL systems, triggered a 13.4% single-day plunge in IBM's stock. This highlighted AI's disruptive threat to traditional industries. U.S. stocks fell sharply: the Dow dropped 883 points (-1.78%), the S&P 500 fell 0.9%, and the Nasdaq declined 1.2%. Defensive stocks like Walmart gained as investors sought safety. Gold surged as a safe-haven asset, rising 1.7% to $5,240/oz amid geopolitical tensions and trade uncertainties. Crypto markets faced severe pressure. Bitcoin fell to around $64,000, and Ethereum dropped to $1,950. Market sentiment was hit by two major events: Bitdeer, the world’s largest public miner by hash rate, sold all its Bitcoin reserves to pivot toward AI infrastructure, and Ethereum co-founder Vitalik Buterin sold over 8,800 ETH in February, worth approximately $18.45 million. Fear and Greed Index remained at 5 (extreme fear), with technical indicators largely bearish. Bitcoin’s "digital gold" narrative weakened as gold outperformed, and institutional outflows from Bitcoin ETFs exceeded $1 billion year-to-date. Key support for Bitcoin is at $60,000; a break below could test the $55,000–$58,000 range.

marsbitYesterday 01:44

February 24 Market Summary: IBM Becomes the New AI Victim, Crypto Market Suffers Confidence Blow

marsbitYesterday 01:44

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