Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bitcoin sank deeper below the $100,000 mark, dragged down by a fresh wave of risk aversion and a selloff in tech stocks that reignited Wall Street jitters.
The digital currency fell as much as 3.9% to $97,956, intensifying a slump that’s wiped out more than $450 billion in value since early October. Once-reliable sources of support — including large investment funds, ETF allocators, and corporate treasuries — have stepped back, removing a key prop from this year’s rally and triggering a new phase of market fragility.
Analysts at 10x Research say the crypto market has entered a confirmed bear regime. The firm cites weakening ETF flows, continuing selling by long-term holders, and muted participation from retail buyers. The firm’s models flagged the shift in mid-October and now point to deteriorating sentiment beneath the surface. The next key level is $93,000, according to 10x.
Today's show features:
Eric Trump, Co-Founder and Chief Strategy Officer of American Bitcoin, on his company’s business model and the regulatory environment for cryptocurrency
Elizabeth Renter, Senior Economist at NerdWallet, on key economic data expectations as the US government reopens
Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan breaks down quarterly earnings from Disney

Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>. Bitcoin sank deeper below the $100,000 mark, dragged down by a fresh wave of risk aversion and a selloff in tech stocks that reignited Wall Street jitters. The digital currency fell as much as 3.9% to $97,956, intensifying a slump that&rsquo;s wiped out more than $450 billion in value since early October. Once-reliable sources of support &mdash; including large investment funds, ETF allocators, and corporate treasuries &mdash; have stepped back, removing a key prop from this year&rsquo;s rally and triggering a new phase of market fragility. Analysts at 10x Research say the crypto market has entered a confirmed bear regime. The firm cites weakening ETF flows, continuing selling by long-term holders, and muted participation from retail buyers. The firm&rsquo;s models flagged the shift in mid-October and now point to deteriorating sentiment beneath the surface. The next key level is $93,000, according to 10x. Today's show features:
<ul>
<li>Eric Trump, Co-Founder and Chief Strategy Officer of American Bitcoin, on his company&rsquo;s business model and the regulatory environment for cryptocurrency</li>
<li>Elizabeth Renter, Senior Economist at NerdWallet, on key economic data expectations as the US government reopens</li>
<li>Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan breaks down quarterly earnings from Disney</li>
</ul>

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Bitcoin Sinks Deeper Below $100,000 as Bear Market Grips Crypto

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/07bf741b-23d1-44dd-a1c9-b3940170f78d/transcript

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