Bitcoin closes four consecutive months red as stocks and gold markets reprice liquidity, rate outlook: analysts

Bitcoin slipped further, extending its selloff and marking its fourth consecutive red month, as a broad repricing of global liquidity affected crypto, equities, and precious metals. Analysts attribute this to a macro reset following the nomination of Kevin Warsh as the next Federal Reserve chair and a hotter-than-expected PPI print, leading to a risk-off sentiment. This shift caused sharp pullbacks in gold and silver, and accelerated institutional withdrawals from crypto investment products, which saw $1.7 billion in outflows. Derivatives markets amplified the move, with futures open interest declining sharply and a $5 billion long liquidation wave occurring. While on-chain indicators weakened and miners distributed coins, some analysts see the current drawdown as a short-term bear phase, with Bernstein projecting a cycle reversal later in 2026, potentially bottoming Bitcoin near $60,000 once forced selling clears and macro conditions stabilize.

(Source：The Block)