$BITCOIN Clings to $84K, but Analysts Flag Risk of Slide Toward $70K
Thursday’s selloff reinforced the view that bitcoin still trades like a high-beta risk asset rather than a macro hedge when markets
Bitcoin fell to its lowest level since November as crypto markets sharply underperformed broader assets.
While U.S. stocks and gold rebounded from steep morning losses, crypto failed to recover, highlighting continued relative weakness.
Analysts warn that a break below key support could open the door to a drop toward $70,000.
Bitcoin$BTC once again lagged traditional markets during Thursday’s risk-off move, reinforcing doubts about its role as a defensive asset.
What began as modest overnight declines escalated into a steep selloff during U.S. trading hours. The Nasdaq fell more than 2% at its lows, while gold slid nearly 10% from an overnight record. Both assets later staged meaningful rebounds — the Nasdaq trimmed losses to about 0.7% by the close, and gold climbed back above $5,400 an ounce. Crypto, however, showed little such resilience.$BTC #BitcoinETFWatch #
