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The renewed bearish flip in funding rates comes amid risk-off in Wall Street's tech-heavy Nasdaq index.

(Bloomberg) -- Bitcoin and other cryptocurrencies tumbled as the emergence of a new Chinese artificial intelligence model triggered a global selloff in riskier assets. Most Read from BloombergWhat Happened to Hanging Out on the Street?Vienna Embraces Heat Pumps to Ditch Russian GasBillionaire Developer Caruso Slams LA Leadership Over WildfiresHow Sanctuary Cities Are Preparing for Another Showdown With TrumpHoboken PATH Station Will Close for Almost a Month on Jan. 30The original cryptoasset fel

The three companies offer varying degrees of exposure to the world's largest cryptocurrency, the report said.

MicroStrategy co-founder Michael Saylor has hinted at another Bitcoin purchase scheduled for Jan. 27, following the company’s recent acquisition of 11,000 BTC on Jan. 21.

The rise in the number of altcoins is making many wonder if the "altcoin season" era has come to an end.

Traders of BTC-tracked products lost $238 million in the past 24 hours, majorly in early European and Asian afternoon hours.

Traders of BTC-tracked products lost $238 million in the past 24 hours, majorly in early European and Asian afternoon hours.