9 AM Market Flash: Bitcoin Slides 2.9% on Risk-Off Flows | Modi UAE Trip Forges New Security Axis | 200 Dollar Oil Shock Warning Circulates
Bitcoin is trading at 78000 dollars down 2.9 percent over the past 24 hours as weekend flows reflect broader risk-off sentiment with the VIX climbing above 18. In Asian markets India's Prime Minister Modi is in the UAE this week signaling a shift from pure economic ties toward deeper security cooperation in the Middle East something that could reshape energy and defense flows. Crude oil traders are on edge after macro warnings of a potential 200 dollar shock even as a bubble is flagged traders are watching positioning ahead of any supply disruption. In the US market Kevin Warsh is stepping into the Fed at a tense time with inflation spiking and yields surging the committee appears in no mood to cut rates. Cerebras stock is also in focus after its blockbuster IPO soared 68 percent on debut to a 60 billion dollar market cap but analysts say wait for a pullback before buying. SPX is trading at 7408.50 down 1.23 percent on the session. I am your VixShield news reporter. Back to you Russell.