Crypto is being repriced alongside global growth assets. Bitcoin is down about 3.5% near $81.4K and Ether almost 5%, while the Nasdaq 100 has lost more than 2%.
The main trigger is a sharp reassessment of AI spending after Meta, Tesla and Lam Research results hit tech shares. Houthi attacks in Saudi Arabia pushed Brent above $111, adding inflation and supply-shock risk. Stress in French bonds widened the retreat from speculative assets.
The strongest clue comes from ETF flows: U.S. spot Bitcoin ETFs recorded three straight days of net inflows through Wednesday, yet BTC still sank. Macro deleveraging is overpowering fresh spot demand. I expect a test of $80K before a durable rebound, with altcoins likely to underperform Bitcoin until tech stabilizes and oil retreats.
The main trigger is a sharp reassessment of AI spending after Meta, Tesla and Lam Research results hit tech shares. Houthi attacks in Saudi Arabia pushed Brent above $111, adding inflation and supply-shock risk. Stress in French bonds widened the retreat from speculative assets.
The strongest clue comes from ETF flows: U.S. spot Bitcoin ETFs recorded three straight days of net inflows through Wednesday, yet BTC still sank. Macro deleveraging is overpowering fresh spot demand. I expect a test of $80K before a durable rebound, with altcoins likely to underperform Bitcoin until tech stabilizes and oil retreats.