On June 25, according to the Financial Times, Bitcoin fell to a 20-month low amid a sell-off in tech stocks, as market risk sentiment continued to weaken. Bitcoin briefly fell below $60,000, with an intraday decline of up to 5.4%, hitting its lowest level since October 2024. Over the past two years, traders have considered $60,000 as a key support level. The latest decline follows a sell-off in large-cap tech stocks this week. Traders are betting that the U.S. central bank will raise interest rates to combat inflation, and higher rates could dampen risk appetite, prompting investors to reassess high-valuation assets and shift toward relatively safe assets.

In recent years, crypto assets have been highly correlated with stock movements, but this relationship is now under pressure. Bitcoin and Solana have fallen 32% and 47% this year, respectively, and have failed to recover significantly even amid stock market rebounds. This is partly due to declining demand from retail investors for cryptocurrencies, who have instead turned to volatility in AI-related stocks. Gerry O'Shea, global market insights director at crypto asset management firm Hashdex, said market sentiment remains weak as large public offerings and AI stocks take center stage.

Analysts currently do not see any major catalysts for the crypto market. The U.S. capital market is still digesting SpaceX's global IPO—the largest ever—which was listed on Nasdaq earlier this month, and AI companies like OpenAI and Anthropic are expected to follow suit. Meanwhile, the Clarity Act, a key digital asset regulatory bill in the U.S., remains stalled in the Senate. The bill faces strong opposition from the banking industry and has yet to garner sufficient bipartisan support.#BTC下探60000美元关键关口