BlockBeats News, March 9th: According to HTX market data, Bitcoin’s price fell below $66,000 this morning, nearly erasing all of last week’s rebound and resuming its downtrend, dropping approximately 1.35% over the past 24 hours. In the past 24 hours, total liquidations across the network reached $329 million, with long position liquidations at $228 million and short position liquidations at $101 million.
Due to the Iran conflict leading to further production cuts by major oil-producing countries, both WTI and Brent crude oil prices exceeded $100 per barrel on Monday. Dow Jones futures initially widened their decline to 2%, Nasdaq futures are currently down 1.65%, and S&P 500 index futures fell 1.7%.
Michael O’Rourke, Chief Market Strategist at JonesTrading, stated: “The worst reaction from the stock market has not yet arrived. I expect risk-off sentiment to continue spreading until substantial positive news emerges.” Meanwhile, hedge funds have reduced their net risk exposure to the lowest level since 2022.
