Headline: Bitcoin Drops Below $87K as Risk-Off Sentiment Deepens
Introduction: Crypto markets turned sharply lower today, with Bitcoin sliding under a key psychological level as broader risk aversion rippled through equities and bonds.
Bitcoin fell back below $87,000, shedding roughly 5% intraday—about $4,500—to trade near $86,960. The move accelerates liquidation pressure across digital assets and marks the lowest print since April 22. Year to date, BTC has swung between a low of $74,434 on April 7 and a peak of $126,272, after closing 2024 at $93,381. The latest downturn underscores ongoing volatility in the crypto market as traders react to shifting macro conditions.
The risk-off tone wasn’t confined to crypto. U.S. stocks retreated, with the Nasdaq down about 240 points (-1.05%), the S&P 500 lower by 0.80%, and the Dow off 0.55%. Safe-haven demand pushed Treasury prices higher, driving the 10-year yield down 4.1 basis points to 4.09%. The combination of weaker equities and falling yields highlights a defensive tilt that is pressuring risk assets, including Bitcoin and other cryptocurrencies.
Key Points: – Bitcoin price fell under $87,000, down about 4.9% intraday to around $86,960 – Lowest level since April 22 amid rising liquidation and crypto market volatility – Year range spans a low of $74,434 (April 7) to a high of $126,272; 2024 close was $93,381 – Nasdaq -1.05% (about -240 points), S&P 500 -0.80%, Dow -0.55% – Flight to safety drove the U.S. 10-year Treasury yield down to 4.09% (-4.1 bps) – Broad risk-off sentiment is weighing on digital assets and equities alike
