Analysis: Bitcoin Falls Below $70,000 Threshold, Triggering Synchronized Deterioration in Market Sentiment

Odaily News: Before the U.S. stock market opened, selling pressure intensified in the crypto market. Bitcoin once fell below the $70,000 threshold, touching a low of approximately $69,917. Market sentiment deteriorated simultaneously, with the Crypto Fear & Greed Index dropping to 11, entering the "Extreme Fear" zone, a level historically seen only a few times. The current round of selling is primarily concentrated in digital assets and precious metals markets, while the overall performance of the U.S. stock market remains relatively stable. In precious metals, gold fell over 1%, dropping below $4,900 per ounce, and silver plunged more than 10%, falling below $80 per ounce. Market observers point out that as a key earnings season approaches, significant divergence is evident within risk assets, with crypto assets and precious metals under pressure, while U.S. stocks continue to show short-term resilience. (CoinDesk)