Jacob King: Bitcoin slides despite S&P 500 rally and easing U.S.–Iran tensions

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Daria Chernytska

1 hour ago

Jacob King: Bitcoin slides despite S&P 500 rally and easing U.S.–Iran tensions — Bitcoin falls as S&P 500 surges

Jacob King, CEO at WhaleWire, points to diverging market dynamics as the U.S.–Iran conflict cools and the S&P 500 posts a nearly 10% gain, while Bitcoin continues to reach new lows.

King questions Bitcoin’s reputation as a hedge, emphasizing its decline during both escalations and resolutions in geopolitical tensions.

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King recently projected a 65% chance that Bitcoin could fall below $50,000 by 2026. Earlier, he reported that Strategy logged a record $12 billion unrealized Bitcoin loss after a BTC sale. King has regularly highlighted mounting risks and losses in the cryptocurrency market.

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