Will Bitcoin Open the Gates of Hell at $60,000... Goldman Sachs Signals a Major Stock Market Crash
Will Bitcoin Open the Gates of Hell at $60,000... Goldman Sachs Signals a Major Stock Market Crash
Bitcoin (BTC) is facing mounting fear in the market that it could plunge to the psychological support level of $60,000 as it confronts a major adverse factor: Goldman Sachs’ warning of a potential crash in the U.S. stock market.
According to cryptocurrency news outlet CoinGape on February 10 (local time), investor sentiment in the digital asset market is rapidly cooling after global investment bank Goldman Sachs warned of the possibility of a large-scale correction, citing overvaluation in U.S. equities and macroeconomic uncertainty. As Bitcoin has recently shown a higher correlation with stock markets, growing risk-averse sentiment is exerting strong downward pressure on its price. Market experts advise investors to prepare strategies while keeping open the possibility that Bitcoin could retreat to the $60,000 level in the short term.
The bleak outlook for U.S. equities is directly impacting Bitcoin investors. Goldman Sachs noted that U.S. stock valuations are currently hovering near historical highs, and if slowing corporate earnings and the persistence of high interest rates are fully reflected in the market, significant downside pressure could emerge. Given that the cryptocurrency market has risen in tandem with equities, concerns are growing that capital outflows from stocks could lead to increased selling pressure in Bitcoin.
From a technical perspective, Bitcoin’s price action is also showing signs of instability. After failing to reclaim key resistance levels, trading volume has been gradually declining, while changes in open interest appear to be reinforcing the downward trend. If Bitcoin fails to hold the $60,000 level, there is a high risk that additional panic selling could spill over into a broader liquidity crisis across the market. Investors are also wary of the noticeable slowdown in capital inflows via spot Bitcoin ETFs, heightening concerns over downside volatility.
Macroeconomic indicators are also acting as obstacles to a Bitcoin rebound. As the pace of disinflation falls short of market expectations, forecasts are strengthening that the U.S. Federal Reserve will delay interest rate cuts, leading to a stronger U.S. dollar. Dollar strength is a key factor that pressures prices of risk assets such as Bitcoin, while global capital flows are clearly shifting back toward safe-haven assets like government bonds and cash.
Participants in the cryptocurrency market are closely monitoring the opening of U.S. stock markets and whether Goldman Sachs’ warning translates into actual selling pressure, while focusing on portfolio management. Bitcoin’s $60,000 support level is expected to be a critical inflection point in determining the market’s future direction, and regaining momentum to reclaim the $70,000 level is likely to remain challenging for the time being. Institutional investors are concentrating on risk management to prepare for heightened volatility by analyzing changes in futures market indicators and capital flows on exchanges.
*Disclaimer: This article is for investment reference only, and no responsibility is assumed for any investment losses based on it. The content should be interpreted solely for informational purposes.*
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