Rising inflation and geopolitical tensions are pressuring risk assets, with prolonged high interest rates challenging Bitcoin's appeal. Bitcoin drops to $58K as US PCE inflation hits three-year high.
Mike McCluskey argues that bitcoin's slide is due to its high-beta relationship with tech equities rather than broken crypto-native fundamentals. The Seoul-to-Nasdaq Contagion On Tuesday, June 23, the South Korean index, Kospi, plunged by more than 8%, triggering a Level 1 circuit breaker.