Bitcoin Plummets to 15-Month Low, Crypto and Stock Prices Tumble - BTC $73,111, S&P 500 Down 1.41%
[Para 1: The Lead] Bitcoin has plummeted to a 15-month low, hitting $73,111, marking a significant drop in the cryptocurrency market. This downturn is part of a broader sell-off in both crypto and traditional markets, with the S&P 500 and Nasdaq Composite falling 1.41% and 2.22% respectively. [Para 2-3: Supporting details & Context] The decline in Bitcoin is exacerbated by the performance of tech stocks, notably PayPal (PYPL), which has seen a 19% drop following its earnings report. The U.S. government shutdown, ongoing into its fourth day, also contributes to the risk-off sentiment. Crypto equities like Coinbase and BitMine Immersion Technologies have also seen significant losses, each down over 7% since the opening bell. Ethereum and Solana have fared worse, dropping 9.6% and 7.1% respectively. Despite this, Bitcoin remains the leading liquidated asset, with nearly $234 million in long liquidations in the last 24 hours. Analysts predict Bitcoin may drop further to its 200-week moving average of $58,000, highlighting structural weakness and the absence of near-term catalysts.