Bitcoin, copper, stocks, yields all fall; gold rises
Summary
Bitcoin fell more than 2% in 24 hours, while ether, XRP and solana declined further amid a broader retreat from risk assets. Copper, Asian equities, Nasdaq futures and risk-sensitive currencies also weakened, while gold rose and Treasury yields fell, suggesting investors are seeking safety amid stagflation concerns. Markets briefly increased bets on a Federal Reserve rate hike after hotter-than-expected U.S. inflation data, but the implied probability later dropped to 29%; Thursday’s producer price index is a key focus. Analysts at 10x Research favor bitcoin while it remains above $78,000 and suggest ether as a hedge. Ether is testing support near $2,350; a breakdown could indicate weaker demand and further losses.
