The crypto was supposed to be a hedge against currency debasement. Instead, it is trading like just another speculative tech stock, erasing 50% of its value since an early October high.

The index serves as a crypto equivalent to Cboe's VIX, the so-called fear/panic gauge, which indicates the 30-day implied volatility of the S&P 500 and rises during market panics as traders bid up options prices to hedge against declines in the index.

Bitcoin is acting weird. The world’s most famous cryptocurrency has tumbled 44% from its October peak, falling below $70,000 Thursday for the first time in 15 months.

Bitcoin outlook turns bearish as Pivotus’ Richard Farr targets BTC at $0 and Michael Burry warns of a “death spiral.” Get the risks and key levels now.

QCP's Darius Sit says October's deleveraging event exposed the real divide: bitcoin trades like collateral, altcoins trade like a bet on exchange governance

Treasury secretary Scott Bessent said he doesn’t have the power to bail out Bitcoin. During a House Financial Services Committee hearing yesterday, Treasury Secretary Scott Bessent said he could not ask that banks prop up Bitcoin in the case of a crash. Crypto investors are responsible for their own risk.

Shares of Strategy, Michael Saylor’s bitcoin-stockpiling company, have fallen sharply since crypto prices touched their all-time highs in October.

The price of bitcoin continued its monthslong slide Thursday, falling another 11% to $67,000, its lowest level in 15 months