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⛓️ CryptoπŸ”΄ BearishImportance 7/10

Bitcoin could face deeper downside as odds of U.S. market meltdown rise to 35%

CoinDesk|Shaurya Malwa|
Bitcoin could face deeper downside as odds of U.S. market meltdown rise to 35%
Image via CoinDesk
πŸ€–AI Summary

Veteran strategist Ed Yardeni increased his probability estimate for a U.S. stock market crash this year to 35% amid rising oil prices above $100, dollar strength, and escalating Middle East conflict involving Iran and Saudi Arabia. The broader market turmoil could create additional downside pressure for Bitcoin and crypto markets.

Key Takeaways
  • β†’Ed Yardeni raised his U.S. stock market crash probability to 35% for this year.
  • β†’Oil prices have topped $100 per barrel amid geopolitical tensions.
  • β†’The U.S. dollar posted its strongest weekly performance in a year.
  • β†’Iran conflict has expanded to involve Saudi Arabia, escalating Middle East tensions.
  • β†’Bitcoin faces potential deeper downside as traditional market risks increase.
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$BTC$67,375β–²+0.3%
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