WS #16151
Bitcoin fell to $81,400 as options traders sought downside protection, coinciding with a tumble in Asian chip stocks and a dip in Nasdaq futures. This risk-off sentiment is driven by rising oil prices and pre-earnings caution, particularly around Meta's AI spending and Netflix's results. The selloff in tech and crypto highlights a flight to safety, with investors rotating out of high-beta assets amidst geopolitical uncertainty and macroeconomic headwinds.
Tech & Crypto Risk-Off Selloff
Bitcoin fell to $81,400 as options traders sought downside protection, coinciding with a tumble in Asian chip stocks and a dip in Nasdaq futures. This risk-off sentiment is driven by rising oil prices and pre-earnings caution, particularly around Meta's AI spending and Netflix's results. The selloff in tech and crypto highlights a flight to safety, with investors rotating out of high-beta assets amidst geopolitical uncertainty and macroeconomic headwinds.