KUALA LUMPUR, April 30 (Bernama) -- Last-minute buying lifted Bursa Malaysia’s benchmark index, reversing earlier losses as higher oil prices boosted sentiment for energy- and chemical-related counters. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets remained under pressure following negative cues from Wall Street, compounded by surging oil prices, mixed earnings, and a cautious US Federal Reserve stance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.60 points, or 0.09 per cent, to 1,722.02 from Wednesday’s close of 1,720.42. The benchmark index opened marginally lower at 1,720.23 and moved between a low of 1,712.14 and a high of 1,722.03 throughout the day. Market breadth, however, was negative, with losers trouncing gainers 816 to 360. A total of 546 counters were unchanged, 950 were untraded, and 77 were suspended. Turnover declined to 2.91 billion un...
Quick Summary
Bitcoin down over 19% in February, worst month since June 2022
On track for a fifth straight monthly decline — longest losing streak since 2018
Global risk-off sentiment and new US tariffs weighing on crypto
Key technical support sits near US$58,000–US$60,000
What’s Happening
Bitcoin fell as much as 2.6% to US$62,858, extending a selloff that began in October.
The world’s largest cryptocurrency is now:
Down more than 19% this month
Facing its steepest monthly loss since the 2022 crypto collapse
Heading for its longest losing streak in eight years
In June 2022, the implosion of TerraUSD triggered a chain reaction involving hedge fund Three Arrows Capital and lender BlockFi — a defining moment of the previous crypto bear market.
Why Bitcoin Is Falling
The latest leg lower comes amid broader market turbulence:
President Donald Trump announced plans to raise global tariffs to 15%
Global equities have weakened
Investors are rotating into traditional safe havens
Key takeaway: Despite the “digital gold” narrative, Bitcoin is still trading like a risk asset.
As one analyst noted, when macro uncertainty rises, capital flows into:
US Treasuries
US dollar
Physical gold
Bitcoin has not yet earned that defensive status.
Technical Levels to Watch
According to market analysts:
200-week moving average: ~US$58,503
Critical support zone: US$58,000–US$60,000
If Bitcoin:
Holds above this level → Stabilisation possible
Breaks below → Risk of deeper pullback
Market Context
This downturn differs from 2022:
No major crypto exchange collapse
No systemic stablecoin failure
Driven mainly by macro risk aversion and tighter liquidity expectations
However, sentiment remains fragile.
Bottom Line
Bitcoin is behaving like a high-beta risk asset, not a safe haven.
With tariffs, global growth fears, and rising macro uncertainty dominating markets, crypto remains vulnerable unless risk appetite returns.
The next key test sits near US$58,000 — a level that could determine whether this is a correction or something more severe.
Key Takeaways
Worst monthly drop since 2022
Fifth consecutive monthly decline
Tariff shock and risk-off sentiment driving selling
US$58K support critical for stability
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