Bitcoin Falls to 15-Month Low Amid Broad Crypto Market Sell-Off and Global Risk-Off

Bitcoin has experienced a significant decline, falling to its lowest levels in 15 to 16 months, dropping below key support levels such as 70,000 and recently testing 60,000. The cryptocurrency has lost over 40% since its October peak, with the broader crypto market shedding trillions in value amid a global risk-off sentiment. Factors contributing to the downturn include leveraged liquidations, outflows from Bitcoin ETFs, weakening technology stocks, volatility in precious metals, and uncertainty around U.S. monetary policy. Analysts warn of continued volatility and potential further declines, while some highlight Bitcoin's increased correlation with traditional markets and question its role as a hedge asset.