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Falling tech stock prices and rising bond yields have forced a rush for cash, preventing Bitcoin from gaining any bullish momentum. Investors dumped gold and bonds for cash as war-driven oil spikes and inflation forced a defensive market stance.
) retested the $67,500 support level on Monday, a move that coincided with gold prices suffering their sharpest correction in over 50 years. Fears of a prolonged war in Iran and the inflationary impact of oil prices holding above $85 pushed investors to cut risk.US Treasuries also faced a sell-off during this period, suggesting that traders aggressively built cash positions. Yields on the US 5-year Treasury jumped to 4.10%, marking a nine-month high as traders demanded better returns. With the S&P 500 hitting its lowest point in over six months on Monday, evidence suggested a broad rush to liquidity.Investors appeared to be raising cash either to cover recent losses or to brace for further price drops across risk markets.The ongoing war in Iran pushed oil prices past $90, creating inflationary pressure. The Wall Street Journal reported that the US planned to deploy roughly 3,000 troops to the Middle East to counter Iran’s influence over the Strait of Hormuz. Part of theBond market futures showed that the implied probability of the Federal Open Market Committee hiking interest rates by July surged to 20.5%, up from 0% just one week prior. Investors anticipated a cooling job market as high interest rates continued to reduce corporate expansion incentives.to The Washington Post. Kevin Hassett, director of the US National Economic Council, stated that $12 billion had already been spent. Lawmakers did not authorize the war, and Congress showed growing unease with the military strategy, Meanwhile, the US national debt soared past $39 trillion, which further pushed consumers toward a cost-of-living crisis. Fear of excessive speculative investment in the artificial intelligence sector emerged after ReutersSome of the world’s largest tech companies faced losses of 10% or more over the past six weeks, including Google , Meta , and IBM . Thus, regardless of the sharp correction in gold prices, traders increasingly feared recession risks or a surge in inflation above the 4% fixed income returns.The combination of declining stock prices and persistent inflationary pressure explained why investors aggressively sought the safety of cash positions., broader macroeconomic conditions remained unfavorable for sustainable bullish momentum. The decline in gold prices while investors offloaded US Treasuries served as a sign of risk aversion. The odds of a $66,000 retest remain a serious threat, at least until inflation and war expenses hold US monetary policy tight for a longer period. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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