Caroline Hyde

And I think, again, this is that unwinding or fears over the unwinding of the yen carry trade.

Crypto is very sensitive to liquidity.

So that really does need to turn around before we can expect to see any sort of recovery or solid recovery in the Bitcoin price or crypto prices.

Talking about the broad application of AI and perhaps the less broad application in the here and now.

For crypto, Fiona Sincotta, it's great to have some time with you, senior analyst over at Citi Index.

Meanwhile, let's talk about data centers for a moment.

But when it comes to financial prices, because data centers do support the CME, for example, one of the world's largest derivatives exchanges.

But we know that now the data center behind the CME has bolstered its own backup cooling capacity after overheating last Friday.

CME's markets were out for more than 10 hours after a failure in cooling system at the facility run by privately owned

Okay, coming up, we're going to dig more into crypto markets and what's behind this week's long sell-off.

That's next.

This is Bloomberg Tech.

Cryptocurrencies, Phil, again today.

Bitcoin dipping below $84,000 per token at one point.

Ether dropping more than 7% to below $2,800.

Joining us now on the crypto markets, weeks-long sell-off, Bloomberg Senior Digital Finance Editor, Ana Herrera.

We're writing on the Bloomberg Terminal about how we started December in risk-off mode, but actually traders in the crypto space are bracing for even bigger moves lower.

What are the factors behind that?

There are some idiosyncratic issues at play here, though, Anna.

One of them being perhaps Stalin and Paul's putting out a bit of a risk warning on Tether, the stablecoin most widely used one, and worrying about its collateralization.