The global crypto market fell sharply on Thursday as new geopolitical and macroeconomic concerns threw cold water on investor appetite for risk assets.
Summary
- Crypto markets dropped sharply as escalating Middle East tensions and hotter U.S. PPI data weakened investor appetite, pushing Bitcoin down nearly 5% to around $70,600.
- Global markets declined alongside crypto, with stocks and precious metals falling while oil surged to record highs amid disruptions at key energy supply routes.
- Over $480 million in long positions were liquidated across crypto markets, amplifying downside pressure as rate cut expectations diminished following Powell’s remarks.
Bitcoin (BTC), the bellwether asset, dropped nearly 5% to $70,600 on Thursday,…
