Bitcoin
Why Bitcoin is down 9.2% today
Analysis
Bitcoin fell 9.2% over the past 24 hours as market stress indicators spiked, with CoinDesk reporting BTC’s “volatility fear gauge” hitting its highest level since the FTX collapse while prices slid toward $60,000—signaling heightened risk-off positioning. Weakness also spread through the mining complex after earnings misses at IREN and CleanSpark deepened sector pressure, adding to broader downside sentiment across the ecosystem, per Decrypt.
Contributing Factors (3)
Bitcoin Miners IREN and CleanSpark Slide After Earnings Misses Deepen Sector Pressure
Shares fell after both companies reported quarterly revenue below Wall Street expectations as Bitcoin dropped sharply.
Bitcoin 'volatility fear gauge' hits FTX-blowup peak as prices crater to nearly $60,000
Bitcoin's volatility gauge, the BVIV, spiked to nearly 100%, its highest level since the 2022 FTX collapse.
'Big Short' Michael Burry flags “death spiral” after silver liquidations beat bitcoin
Tokenized silver futures logged one of the largest wipeouts across crypto markets, overtaking the usual leaders bitcoin and ether.
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Explanation Confidence
High confidence in the explanation based on source reliability and timing.