Bitcoin’s loses $78k while the US markets sleeps – risk takes over from oil as crude prices stay flat
CryptoSlate
Bitcoin retreated from $79,500 amid weakening US equities, signaling a broader reduction in investor risk appetite.Summary
Bitcoin recently pulled back from a local high of approximately $79,500 to the $77,000 range as US equity markets showed weakness. Analysts suggest this decline stems from a broader reduction in risk appetite rather than energy-related shocks, as crude oil prices remained relatively stable. While Bitcoin is still influenced by macroeconomic factors like inflation and Fed expectations linked to oil prices, the immediate selloff is attributed to profit-taking and the exhaustion of a prior short squeeze near the $80,000 resistance level. Market participants are now watching to see if Bitcoin can establish a base near $77,000 ahead of significant upcoming options expiries and macroeconomic data releases.
(Source：CryptoSlate)