Bitcoin decouples from tech stocks: Is $60K BTC’s next stop?
Bitcoin fell 7% after failing to reclaim $67,200, triggering about $330 million in long liquidations. The drop stands out because the Nasdaq 100 remained strong and near record highs, while risk assets like oil and gold reflected easing inflation concerns and a firmer dollar. Bitcoin’s weak spot comes as leveraged bullish demand has faded since the June 4 selloff, showing reduced trader confidence. Hawkish Fed language around “price stability” and still-elevated Treasury yields are also weighing on non-yielding assets. Sentiment around Bitcoin is weaker as AI-related stocks and narratives جذب investor attention, with major gains and new trillion-dollar valuations in that sector. Still, Bitcoin now has a much larger institutional base than in prior cycles, supported by over $102 billion in spot ETF assets and offerings from major banks. A retest of $60,000 remains possible, but institutional demand will likely be the key driver.
