Bitcoin may act as a ‘canary in the coal mine’ as risk-off pressure spreads: Bitwise

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Bitcoin is acting as a 'canary in the coal mine' as risk-off pressure spreads across markets, according to Bitwise research, which suggests a broader market downturn. Elevated global liquidity and stablecoin reserves are contributing to this trend. The correlation indicates a potential global market correction, with Bitcoin's price likely to be affected by these broader market shifts.