Finance

Digital assets experienced a sharp downturn as Bitcoin briefly crashed below the $60,000 threshold, hitting its lowest levels since 2024. This volatility triggered nearly $1 billion in market-wide liquidations, primarily affecting long positions, while institutional outflows from spot Bitcoin ETFs continued for a sixth consecutive week.

Global oil benchmarks have continued their monthly decline, with Brent crude falling below $76 per barrel, reaching levels not seen since before major Middle East geopolitical escalations in February. Easing tensions in the Strait of Hormuz and signs of a market surplus have alleviated immediate inflation concerns, even as the U.S. energy sector's market weighting remains near historic lows compared to technology.

Market participants are closely monitoring the upcoming Personal Consumption Expenditures (PCE) price index, the Federal Reserve's primary inflation gauge, for signals on future monetary policy. Despite a recent decline in Treasury yields, some analysts suggest the yield curve still indicates a high probability of a second interest rate hike before the end of 2026.