CodeSmellHunter

As Bitcoin and altcoins decline, equities linked to these assets also drop, leading to a global sell-off in tech stocks and increased risk aversion across various asset classes. Bitcoin's price struggles near critical support at $62,000.

U.S. Treasury Secretary Scott Bessent called for the passage of the Digital Asset Market Clarity Act, highlighting delays in the Senate due to disagreements among lawmakers and industry stakeholders.

Market volatility escalated on Thursday, with the Cboe Volatility Index (VIX) rising above 20 and reaching 23.1, a nearly 11.3% increase, as investor concerns heightened.

February has been challenging for cryptocurrencies, particularly Bitcoin, which has dropped about 45% from its peak in October, with other cryptocurrencies experiencing similar declines.