K Wave Media Transfers $485 Million from Bitcoin to AI Infrastructure
- Strategic Shift: K Wave Media announced the transfer of the remaining $485 million from its Bitcoin fund to AI infrastructure, marking a significant pivot from cryptocurrency investment strategies to AI-driven projects, which is expected to enhance its competitiveness in the rapidly growing AI market.
- Fund Restructuring: The company amended its securities purchase agreement with Anson Funds, redirecting all funds originally intended for Bitcoin purchases towards AI infrastructure projects such as data centers and GPU computing, demonstrating its commitment to future technology investments.
- Debt Reduction Plan: K Wave Media plans to divest its subsidiary, Play Co., Ltd., to eliminate approximately $48 million in debt, further strengthening its balance sheet and ensuring ongoing investment capacity in the AI sector.
- Stock Price Volatility: Following the announcement, K Wave Media's stock experienced significant fluctuations, plummeting 28.25% from $0.406 to $0.294, reflecting market concerns and uncertainties regarding the company's strategic shift.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000133 | 0.00847 | 0.0149 | 0.0233 | 0.0297 | 0.0381 | 0.0445 |
| Fibonacci | 0.00847 | 0.0141 | 0.0176 | 0.0233 | 0.0289 | 0.0324 | 0.0381 |
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