Keep an eye on the bitcoin chart as it breaks $60,000.
It’s gone through that level and touched below the June 5 bottom of $59,125
This is a fresh low since September 2024. At current levels, the entire Trump 2.0 rally is already wiped out despite a host of crypto-friendly US policies. That’s a poor fundamental sign and a problem for the bulls.
There are few reasonable levers left to pull aside from a bitcoin strategic reserve and that doesn’t sound like something Congress is at-all interested in. Today, crypto is caught in something of a sell-everything deleveraging in markets. Bitcoin is down 5% but silver is down 7.4% and gold is down 3%.