Odaily Planet Daily News Bitcoin is facing the pressure of a wave of risk aversion in the global market. According to the price of nearly $58,500 as of press time (currently reported at $57,441.9), it has fallen 13.1% in the nearly seven days ending last Sunday, which is the largest weekly drop since the FTX crash. U.S. stock index futures fell on Monday morning, reflecting concerns about the growth prospects of the world's largest economy, and the weakness of technology giants has raised questions about whether the hype of artificial intelligence is too much. In addition, geopolitical tensions in the Middle East have further exacerbated investors' uneasiness. Tony Sycamore, market analyst at IG Australia Pty, wrote in a report that the technical chart pattern "opens the way for Bitcoin to further pull back" to $54,000. So far this year, Bitcoin's gains have slipped to around 34%, compared with a 19% increase in gold prices and a 9% increase in global stock market indices. (Bloomberg)

#BTC