Bitcoin (BTC) Price Returns to $59,000; Artificial Intelligence (AI) Tokens Render, FET, TAO Lead Crypto Losses

Price action suggests that crypto markets are consolidating further as the early August rally below $50,000 continues to fizzle out. The largest cryptocurrency has remained in a downtrend since its all-time high of $73,000 in March, making lower highs and lower lows since then.