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Bitcoin breaks down, 70k becomes critical test for broader market sentiment
Bitcoin remains under heavy pressure after plunging late last week, with prices still struggling to regain 80,000. The selloff closely follows last week’s crash in precious metals, suggesting a shared catalyst of US President Donald Trump’s decision to nominate Kevin Warsh as the next Fed chair. For now, broader risk assets have so far absorbed the shock. Equity indexes and volatility measures remain relatively calm, indicating that investors are not yet pricing in a wider risk-off regime. That calm, however, may prove misleading. Given Bitcoin’s persistent correlation with tech stocks, sustained weakness in ... (full story)
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