Bitcoin’s $70,000 Support Shatters as ‘Warsh Shock’ Triggers Massive Liquidity Exodus

Bitcoin collapsed below the psychological $70,000 support level Thursday, marking a 15-month low as markets aggressively repriced the liquidity outlook under incoming Federal Reserve Chair Kevin Warsh. The world’s largest cryptocurrency fell as low as $67,619. The rout erased $40 billion from open interest in under 48 hours, showing a capitulation of leveraged longs. The catalyst? The market’s digestion of President Trump’s nomination of Kevin Warsh. While Warsh is historically pro-crypto, calling Bitco ...