Bitcoin’s Last Support Before $100K Breaks as 'Mag 7' Skew Flips, Oracle CDS Surges

Why It Matters

A breach of Bitcoin’s support could spark a broader crypto correction, while the skew flip and Oracle CDS spike warn of over‑optimism and stress in the tech sector, potentially curbing the rally in risk‑on assets.

Summary

Bitcoin slipped below the $106,000 support level, exposing the cryptocurrency to a test of the $100,000‑$101,000 zone and a possible deeper decline toward $94,000 or the $85,000 “maximum‑pain” area. At the same time, the put‑call skew for the Magnificent 7 tech stocks inverted for the first time since December, a pattern that historically precedes short‑term consolidation or reversals. Oracle’s credit‑default swap spread surged after the company disclosed a massive AI‑spending program, reflecting heightened investor anxiety over soaring AI costs. Together, these moves signal growing caution across both crypto and tech‑driven risk assets.