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Bitcoin's worst-case downside is $23,980, an analyst has warned, a level that would be triggered by a 50% collapse in US stock markets.
Weaker exchange-traded fund inflows and subdued US demand signal that large investors remain on the sidelines even as the asset trades above that threshold.
The Downside Case and Its Macro Trigger The $23,980 figure is framed explicitly as a worst-case scenario rather than a base case, tethered to a severe equity shock rather than any condition in crypto markets alone.
That framing matters: it places Bitcoin's floor not on its own fundamentals but on the trajectory of traditional risk assets in the United States.
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