Global market sentiment has clearly weakened, with the Iran war and soaring oil prices putting pressure on Asian and European stock markets. The S&P 500 and Nasdaq indices have also declined, while the US dollar index has strengthened. Meanwhile, Bitcoin prices have recently stabilized around $70,000. Bitcoin previously maintained a wide trading range above $100,000 for an extended period before rapidly falling into bear market territory. Similar technical structures have recently appeared in the SPDR Financial Select Sector ETF (XLF), the Indian Nifty Index, and S&P 500 futures. Historically, Bitcoin has repeatedly led traditional markets in peaking. For example, in November 2021, Bitcoin peaked around $60,000 and fell rapidly, while the S&P 500 and Nasdaq indices only peaked in January 2022 and subsequently entered a sustained downward cycle. Analysts believe that stock market traders may need to pay closer attention to Bitcoin's movements to assess changes in overall risk asset sentiment. (CoinDesk)