Analyst Warns Bitcoin Could Fall to $24,000 if US Stocks Crash 50%

The correlation between Bitcoin and risk assets such as US stocks has long drawn market attention. Technical analyst Jesse Olson said investors could also sell crypto assets if economic or financial stress sends US equities down by more than 50%, leaving Bitcoin vulnerable to a steeper correction than the stock market.

Olson recently warned that, in a US stock market crash, Bitcoin could fall by more than 60% in the worst-case scenario and touch $23,980, or about $24,000. Buying demand in the US market has recently been weak, while spot Bitcoin ETFs have continued to record net outflows, indicating that institutional investors remain cautious and defensive.