Bitcoin briefly fell into the $59,000 range, and the stock market also shook.

The crypto market sank again, and the sell-off spread to Bitcoin-related stocks. The stock market and commodities also fell into the red.

On Wednesday, Bitcoin fell below $60,000, bringing its value down nearly 22% in a month. Its total market capitalization fell to $2,0 trillion.

Bitcoin Price. Data from CoinGecko

The sell-off also weighed on Strategy (MSTR) shares, which fell to their lowest in two years as BTC hit a two-week low, with the company owning $52 billion of the top cryptocurrency.

Perplexity Data

MSTR shares fell to $97,30 about 30 minutes after the opening bell, down nearly 5,5% on the day, according to Yahoo Finance data. Losses have reached 20% over the past week and more than 38% over the past month.

The pressure wasn't limited to cryptocurrencies. The S&P 500 fell 0,3%, and the Nasdaq Composite fell 0,4%. The Dow Jones Industrial Average rose 126 points, or 0,3%, despite declines in oil prices and Micron Technology shares.

The price of Brent crude oil fell 3% to $74 per barrel, reaching its lowest level since the US and Israeli airstrikes on Iran began in late February. The price of West Texas Intermediate crude oil also fell 3% to $70, reaching its lowest level since early March.

Investors are currently awaiting Micron's financial results. According to FactSet analysts, the semiconductor company is expected to report earnings of $20,83 per share on revenue of $35,75 billion.

Looking at the current situation, it's important to understand that the crypto market is once again going through a severe bear market. A 54% decline in market capitalization in less than nine months isn't just a correction, but a sign of a serious reassessment by major players regarding risky assets.

What conclusions can be made?

First, it's important to distinguish between Bitcoin and so-called "proxy assets." MSTR stock clearly demonstrates that BTC-related assets can fall more sharply than Bitcoin during periods of panic.

Secondly, try to follow global data, not just price charts. The market is currently sensitive to macroeconomic factors: rates, inflation, and liquidity availability. When money in the system becomes scarce, speculative assets are always the first to suffer.

Third, we mustn't forget that the foundation is always more important than the hype. Despite the current sell-off, Bitcoin's technical foundations are still intact. And if a project is beneficial, it has a much better chance of surviving the storm than hyped projects without a real idea.