Bitcoin
Why Bitcoin is down 1.2% in the last hour
Analysis
Bitcoin slipped about 1.2% over the past hour as macro and market-structure headwinds weighed on sentiment. CoinDesk reported that ETF flow chatter tied to Fed contender Kevin Warsh being viewed as bearish for bitcoin likely pressured risk appetite, while a separate CoinDesk note highlighted plunging spot volume and broader crypto-related selling that can exacerbate short-term dips.
Contributing Factors (3)
Here's why Fed contender Kevin Warsh is seen as bearish for bitcoin
BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.
Crypto stocks sink as spot volume plunges and bitcoin tumbles below $84,000
Bellwether crypto exchange Coinbase was lower for an 8th straight session on Thursday to its weakest level since May.
Bitcoin is going nuts with biggest implied volatility spike since November
The spike shows traders rushing for protection, though implied volatility is not yet at extreme levels versus the past year.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.