Saxo Bank: Bitcoin and Ethereum decline as U.S. stock index futures fall

Jinse Finance reported that Bitcoin and Ethereum declined, and US stock index futures also fell due to ongoing concerns about the potential disruption from artificial intelligence (AI). The US stock market will reopen later, after being closed on Monday for Presidents' Day. Concerns about AI have put pressure on technology stocks and other sectors, weakening investment appetite for risk assets including cryptocurrencies. Investors are also awaiting the release of the Federal Reserve meeting minutes on Wednesday, as well as the US Personal Consumption Expenditures (PCE) Price Index data and US fourth-quarter economic growth data on Friday. Analysts at Saxo Bank stated in a report: "The key question this week is whether macro stability, particularly stability around Federal Reserve communications and inflation data, can reignite sustained capital inflows into cryptocurrency exchange-traded funds." According to data from the London Stock Exchange Group, Bitcoin fell 0.8% to $68,279. Ethereum dropped 0.7% to $1,984.