"The geopolitical backdrop is driving capital toward safe-haven assets while simultaneously pushing US Treasury yields higher, tightening financial conditions."
"This combination weighs on non-yielding assets such as Bitcoin, amplifying downside momentum."
"Over the past 24 hours, long liquidations were larger than short liquidations, with the imbalance even more pronounced during shorter timeframes."
"Ongoing disagreements within the industry highlight that a clear framework is not yet guaranteed, placing additional selling pressure on the cryptocurrency."
Bitcoin experienced a decline as global risk sentiment worsened due to escalating tensions in the Middle East. This geopolitical situation is pushing investors towards safe-haven assets and increasing US Treasury yields, which negatively impacts non-yielding assets like Bitcoin. Institutional support remains weak, with only USD 7.8 million in inflows for spot Bitcoin ETFs. Derivatives positioning shows a bearish trend, with more long liquidations than short. Regulatory uncertainty continues, with the CLARITY Act's progress not ensuring a clear framework, adding to selling pressure on Bitcoin.
Read at London Business News | Londonlovesbusiness.com
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