Market Overview - Wall Street is experiencing a recovery attempt after a difficult trading period, but investors are retreating from Bitcoin and silver [1] - Bitcoin briefly fell below $70,000, a level not seen since November 2024, while silver prices dropped as much as 16% after two days of gains [1] Bitcoin Analysis - Bitcoin enthusiasts believed the $70,000 level would act as a support, but prices fell again to nearly $69,000 by 7:30 a.m. ET [2] - The cryptocurrency has been on a downward trend since reaching an all-time high above $126,000 in October, with no signs of recovery [4] - The retreat from Bitcoin is attributed to the withdrawal of ETFs and digital asset Treasuries, contributing to the price decline [4] Silver Analysis - Silver experienced a significant price increase of 146% recently but is now nearly 35% below its price from a week ago [3] - As of 7:45 a.m. ET, silver prices were down 13% to $76.34, indicating a failure to maintain upward momentum after initial gains [2] - Analysts suggest that speculative investors drove up silver prices through options trading, likening it to meme stocks like GameStop, which lack real-world value [3] Market Sentiment - The overall market sentiment is negative, with futures indicating that major indices are set to open lower, including a nearly 1% drop for the Nasdaq [5]