Nasdaq-100 Crash Sparks Macro Headwinds for Bitcoin Price

The Bitcoin price has fallen to $63,956 on July 25 due to macro headwinds in the market. The Nasdaq-100 index hit an 11-week low on July 24 after tech giants' heavy investments in AI raised concerns about reduced cash flows and mounting debts.

Data from TradingView shows that the Nasdaq-100 index closed at 28,128 points on July 24, its lowest point since May 5. The CEO of Andersen Capital Management, Peter Andersen, noted that investors are worried about whether these investments will bear returns and affect the value of their shares.

The Bitcoin price faces resistance at the 200-week EMA of $68,284. If it fails to move above this level, it could fall to the psychological support of $60,000. The RSI reading of 39 suggests that bears still have the upper hand in the market.