Economy

Crypto Market
Pessimism in Bitcoin Surprises: “Usually Goes in the Opposite Direction”

The derivatives market is seeing an unusually large preponderance of pessimism regarding Bitcoin’s continued price development, in the wake of the war in the Middle East. But this may indicate that the bottom has been reached, says Vetle Lunde, head of analysis at crypto company K33, to Norwegian E24.

– The market has been quite unbalanced, with a very large proportion of investors positioned for continued declines. Often the price moves in the opposite direction when “everyone” expects the same thing.

K33 believes that the conditions are there for future increases. But it may take a while.

– Those considering buying now should be patient and not expect a quick rebound, Lunde tells E24.

Bitcoin is currently trading around $67,000, practically unchanged over the past 24 hours.

Oil market
“Crazy is just the first name – brace yourselves for Monday”

The supply of marine fuel is in a really bad state in the wake of the conflict in the Middle East, notes June Goh, oil analyst at commodities trader Sparta.

In a post on X, she writes that the severe disruptions in oil exports from the Middle East have led to several refineries closing or reducing their operations. This is not least affecting the production of fuel oil, which can only be produced in refineries.

Fuel oil – which is used for ship fuel, among other things – is usually cheaper than crude oil, but not now. According to June Goh, this indicates that a serious shortage is already visible on the market.

“To sum up: No refineries = no fuel for ships after the stocks are emptied. Crazy is just the first name. Brace yourselves for Monday,” she concludes.

The Development of AI
AI Agent Freed Itself – Tried to Mine Crypto

Researchers from the Chinese tech giant Alibaba’s AI team recently discovered that an AI agent “freed itself” from its instructions during the training phase. The researchers also saw that the AI ​​agent tried to mine cryptocurrency on its own.

The incident is described in a research report – so-called white paper – and aroused both concern and fascination within the team, reports Axios.

The site notes that cryptocurrencies are a “bridge” for AI agents to act in the real world. Through access to cryptocurrencies, AI agents could, for example, start businesses, carry out transactions and sign contracts. An AI agent breaking free and starting to act on its own could therefore have real consequences – not always positive ones.

The researchers strengthened the restrictions for the AI ​​agent and improved their training process after the discovery.

Sony is being sued for billions over expensive Playstation games

Agitated British gamers are suing Sony for 2 billion pounds – equivalent to almost 25 billion kronor – AFP reports. The gamers accuse the Japanese tech giant of violating competition law and charging an excessive price for, among other things, digital Playstation games.

Playstation's own digital game store, the Playstation Store, is the only official place where gamers can buy games that can be used on the console. This means that Sony has a "near monopoly on the sale of games" for its console and can therefore set whatever prices they want, the class action says.

The case will be heard in the Competition Court in London next week and is expected to take around ten weeks, according to the news agency.

Sony defends the arrangement by saying that the distribution model is legally correct.

AI and jobs
AI researcher on the horror graph: “Some groups are hit hard”

The proportion of new job advertisements has historically correlated well with developments on the stock market. But now the two curves point in different directions – something that has been called “the scariest chart in the world” in American media, notes SvD Näringsliv.

Several analysts that the newspaper spoke to say that there are several explanations at play. AI is one of them.

AI researcher Magnus Lodefalk sees signs that AI can hurt young people’s job opportunities. However, he does not foresee mass unemployment.

– But certain professional groups and regions will likely be hit harder than others.