Economic conditions have further reduced appetite for risk assets. A stronger-than-expected U.S. Core PCE inflation reading weakened expectations for Federal Reserve rate cuts, while higher Treasury yields encouraged investors to rotate toward fixed-income assets.
At the same time, Brent crude slipped toward $73 per barrel as attention shifted to renewed U.S.-Iran negotiations in Doha after an interim agreement reduced the immediate risk of disruptions through the Strait of Hormuz. Still, geopolitical uncertainty has remained part of the market backdrop.
Technical structure keeps downside risks in focus
Bitcoin’s 1-day USDT chart continues to favor sellers after price failed to reclaim the descending trendline drawn from the May highs. The cryptocurrency is trading just above the key support zone around $58,169, which coincides with the 100% Fibonacci retracement of the recent decline. A decisive move below that level could expose the mid-$50,000 region.
