Bitcoin still a 'safe haven' despite falling to 3-month low
Bitcoin (BTC-USD) has retreated to its lowest levels since November 2024, hovering just below $87,000. While this decline coincides with a massive security breach that saw North Korean hackers extract $1.5 billion in digital assets from the Bybit exchange, Crypto is Macro Now founder Noelle Acheson suggests deeper market forces are at work. "The Bybit hack was awful, but it was handled really well," Acheson describes. She attributes the crypto downturn to broader economic trends: "I think what we're seeing now in the crypto markets is an extension of what we're seeing in macro markets. We're heading into risk-off territory, and crypto, being high beta assets, are reflecting that and then some." Looking ahead, Acheson expects continued market turbulence, adding, "The Trump rally could just be getting exhausted here." Despite this, she maintains a bullish long-term outlook on bitcoin's fundamentals, emphasizing its "multinational" appeal and positioning it as a "safe haven" comparable to "digital gold." "So when it gets to a lower price, those who have been sitting on the sideline waiting for an opportunity will step in. Its floor is going to be higher than other assets that didn't have that diversity of assets," she tells Yahoo Finance. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith
