Odaily Planet Daily News Capital Flows published an article on the X platform saying that the decline in US stocks is affecting Bitcoin and listed companies in the crypto sector (such as Coinbase and Strategy). The convergence of Bitcoin and traditional risk asset flows is increasing, but it is still at the far end of the risk curve. Capital must flow "outward" from lower-risk assets and into the crypto market to drive Bitcoin up.
If Bitcoin rebounds to the $100,000 range, it will require a lasting change in macro liquidity, which has not yet occurred. If macro liquidity cannot be adjusted continuously, as the implied volatility premium increases, the next stock market decline may pull Bitcoin down to the $72,000-75,000 range.