Bitcoin Drops to $64,000 as Anthropic’s AI Move Shakes IBM and Tech Sector

AI Developments Trigger Market Sell-Off The potential for rapid advancements in artificial intelligence to transform traditional business models has caused sharp declines in financial markets and cryptocurrencies.
Bitcoin retreated to the $64,000 level, paralleling a general sell-off in the software sector.
At the center of the market volatility was an 11% decline in the shares of technology giant IBM.
COBOL Modernization and the Impact on IBM The primary driver of the decline was the announcement of the "Claude Code" platform by AI startup Anthropic.
This platform is reportedly capable of automating the modernization of COBOL code, which is one of IBM's significant revenue streams.
COBOL, which forms the foundation of critical systems in the finance, aviation, and public sectors, manages approximately 95% of ATM transactions in the United States.
Anthropic officials emphasized that the knowledge gap created by the retirement of experts who built these systems could be filled by AI tools.
Divergence in Crypto and Mining Sectors The cryptocurrency market, which shows a high correlation with the software sector, remained under intense pressure on the first day of the week.
Shares of companies such as Coinbase, MicroStrategy, and Galaxy Digital lost between 4% and 7% in value.
However, Bitcoin mining companies that have integrated their business models into AI infrastructure diverged positively from the market.
IREN rose by 5%, Cipher Mining by 3.4%, and CleanSpark by 1.5%, showing resilience.