ChainThink reports that on March 9, according to market data, Bitcoin’s price briefly fell below $66,000 this morning, erasing nearly all of last week’s rebound and returning to a downtrend, with a decline of approximately 1.35% over the past 24 hours. Total liquidations across the network amounted to $329 million in the past 24 hours, including $228 million in long positions and $101 million in short positions.
Due to the Iran conflict prompting further production cuts by major oil-producing nations, both U.S. crude and Brent crude surged past $100 per barrel on Monday. Dow futures opened down 2%, Nasdaq futures fell 1.65%, and S&P 500 futures declined 1.7%.
Michael O'Rourke, Chief Market Strategist at JonesTrading, said: "The worst reaction in the stock market has yet to come. I expect risk-off sentiment to continue spreading until we see meaningful positive news." Meanwhile, hedge funds have reduced their net risk exposure to the lowest level since 2022.