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Bitcoin is trading under pressure today as broader risk markets slide, with BTC hovering near 74k. The move lower is unfolding alongside sharp losses in U.S. equities, particularly in AI-linked, software, and private-equity names, pointing to macro and liquidity stress rather than crypto-specific selling. Flows remain light and price action appears driven by risk reduction, not forced liquidation.
Major tokens are broadly weaker. ETH is down around 9% near 2.1k and continues to lag, while SOL has slipped below 100, down roughly 5.5%. There is little evidence of internal rotation or dip accumulation, with large caps moving largely in lockstep with BTC.
Equities are reinforcing the defensive tone. Software leaders such as Shopify, Adobe, Salesforce, and Intuit are down 7–12%. Private-equity stocks are also under pressure following concerns raised by a recent markdown in a BlackRock private debt fund, adding to fears that liquidity conditions are tighter than headline data suggests.
Crypto-linked equities are reflecting the same risk-off dynamic. Galaxy is down sharply following earnings, while Strategy, Coinbase, Circle, and Bullish are lower by mid-single digits, signaling broad de-risking across the digital-asset ecosystem.
From a structural standpoint, BTC holding the mid-74k area remains critical. Upside is limited until price can reclaim the low-80s, while momentum on higher timeframes remains neutral rather than oversold. The current setup favors caution, with stabilization in equities and liquidity needed before a more durable recovery can take shape.
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This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
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