Finance

The cryptocurrency market experienced a severe sell-off on Friday the 13th, with Bitcoin dropping below the $70,000 threshold to touch its lowest levels since August. The drop provoked a massive liquidation cascade of more than $1.3 billion in leveraged futures positions. Broader market anxiety grew as investors reacted to persistent outflows from spot Bitcoin ETFs and a strengthening U.S. dollar.

U.S. Treasury yields pushed higher on Friday as investors analyzed fresh wholesale economic signals from the latest Producer Price Index data. A hotter-than-expected inflation reading has added tension to the macroeconomic environment and sustained expectations for an upcoming Federal Reserve interest rate hike in December. Higher global yields simultaneously reduced the general appetite for risk-on assets across equities and digital assets.

Speculation and advanced discussions regarding a potential corporate merger between SpaceX and Tesla have surfaced within the financial community. According to insider reports, both entities under Elon Musk's leadership are exploring a transaction that could be announced as early as December 2026. The prospective combination has added a new layer of interest to the industrial and technology landscape, drawing attention back to the massive Bitcoin holdings of both firms.