Donald Trump · Bitcoin · U.S. Treasury · Cointelegraph
More concerningly, the drop happened while the Nasdaq 100 index showed strength, trading 1% away from its all-time high
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Bitcoin’s slump accelerated as capital rotated further into the AI sector, raising the odds of a BTC price drop below $60,000.
Key facts
- Bitcoin (BTC) faced a 7% correction after failing to reclaim the $67,200 level on Monday, triggering $330 million liquidations in bullish leveraged positions
- Demand for bullish leveraged Bitcoin positions has faded since June 4, indicating a lack of confidence after the crash from $73,700 to $61,300 in three days
- SpaceX (SPCX US) market capitalization soared to $2.4 trillion within days of its IPO
- Crude oil prices fell to their lowest level in 15 weeks to $74, easing inflation risks
Summary
Bitcoin's sudden decoupling from a strong Nasdaq index highlights shifting capital flows into the AI sector. A strengthening US dollar and high Treasury yields are weighing heavily on non-yielding crypto assets. Bitcoin (BTC) faced a 7% correction after failing to reclaim the $67,200 level on Monday, triggering $330 million liquidations in bullish leveraged positions. Nasdaq 100 futures (left) vs. Bitcoin / USD.