BTC struggles to breach $65,000 resistance amid a historic sell-off in US tech equities and geopolitical tensions.
Bitcoin failed to sustain levels above $65,000 on Monday, encountering strong resistance as institutional investors offloaded tech stocks at a decade-high pace. BTC/USD volatility surged around the Wall Street open, with traders eyeing a potential move toward $70,000 despite the current pullback.
US equities faced dual pressures from escalating US-Iran tensions and a record sell-off in information technology stocks. Hedge funds sold tech shares in six of the last eight weeks, marking the largest eight-week outflow in at least ten years, according to Goldman Sachs data. The S&P 500 and Nasdaq showed modest gains, while the Dow Jones dipped 0.3%.
Oil prices remained above $80, reflecting broader market unease. Traders maintained a cautiously optimistic outlook for Bitcoin, anticipating a breakout if macro conditions stabilize.