Real Vision CEO Raoul Pal said bitcoin carries an 87% correlation to global liquidity, arguing the asset tracks the amount of money moving through the financial system rather than corporate earnings or the news cycle.
Falling exchange balances challenge bearish signals as $60,000 support faces growing macroeconomic and policy pressure.
Bitcoin's outlook depends on defending $61K, with whale buying emerging as the key force absorbing recent selling pressure.
Bitcoin fell nearly $3,000 from Monday's $65,600 high, briefly reaching $63,000 as roughly $700 million in leveraged positions were liquidated. South Korea's Kospi plunged about 11%, while the U.S. Senate postponed the Crypto Clarity Act, weakening risk appetite before the Federal Reserve decision.
Bitcoin slid to $63,414 as a one-in-three Fed rate hike probability and $465M in ETF outflows erased July's fragile recovery gains.
Bitcoin traders have spent the past month reducing protection against a price decline while the Fed has made its next decision harder to predict. The Bitcoin options put-to-call open-interest ratio has fallen to approximately 0.52 from 0.76 in late June, meaning about 52 put contracts remain open for every 100 calls.
The yen's 40-year low raises carry-trade risks as traders watch USD/JPY, Bank of Japan policy and possible pressure on Bitcoin.
Strategy's pause in Bitcoin purchases highlights liquidity management challenges, impacting investor confidence and Bitcoin market dynamics. Strategy pauses Bitcoin buys to shore up cash and rescue its STRC preferred stock.
Bitcoin briefly fell below $63,000, driven by a sharp correction in global technology stocks. The rout of chipmakers in Asia, doubts about AI financing, and the threat of a US rate hike triggered a widespread risk-reduction movement.
A lawsuit alleges Apple kept a fake bitcoin wallet app on its store after one user reported an $875,000 theft, leading to another user having roughly $840,000 stolen.
Plus crypto broadly falls following memory stock slide, Coinbase leans into memes with new feature, and the Fomo app sets a new ATH.
Fraud Losses: Three customers say a fake Bitcoin wallet app on Apple's App Store stole more than $1.8 million after they entered seed phrases. Safety Claims: The lawsuit argues the fraud succeeded because the company promoted the App Store as a trusted environment while failing to remove fake Sparrow Wallet apps.