Big Tech crash, oil volatility rattles markets: Will Bitcoin hold above $60K?
Nasdaq 100 fell 7.5% in the week to June 10, erasing $2.7 trillion and triggering fresh risk-off pressure across markets. Higher oil prices from the Iran war pushed Brent above $90, fueling slowdown fears and expectations that the Fed may keep policy tighter for longer; producer prices also jumped 6.5% year over year, lifting September hike odds to about 40%. Bitcoin weakened alongside equities, with futures premiums below 4% and support near $60,000 now in question. Bearish sentiment was reinforced by $1.9 billion in June outflows from US spot Bitcoin ETFs and Strategy’s temporary pause in BTC buying to preserve balance-sheet flexibility. Meanwhile, strong demand for SpaceX’s $75 billion IPO and fresh capital raises from major AI firms show investors still favor growth, though the broader tech rally looks more fragile.
