While equities have fully recovered and pushed into new highs, bitcoin is still playing catch-up after its sharp February drop to $60,000.

“Since yesterday we’ve rejected from the top end of this two-month range,” said Jasper de Maere, trader at Wintermute. “It feels like the flow picture, which looked encouraging yesterday, is already being questioned.”

For now, he pointed to $72,000 as the key level to watch. Holding above it would keep the breakout narrative intact, allowing for further attempts at the range highs.

A break lower, however, could see bitcoin slip back into consolidation as volatility compresses, he added.

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Allbirds logo on a store

The footwear brand plans reinvention as Newbird AI with a $50 million convertible in a sign of the broader market shift into GPU infrastructure.

What to know:

  • Allbirds is abandoning its core footwear business and pivoting to AI compute infrastructure, backed by a $50 million convertible financing facility more than double its prior market value.
  • The move reflects a trend in which surging demand for AI-related services is driving even small-cap companies to reposition toward GPU infrastructure

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