Bitcoin dropped over 2% in the past 24 hours, with other major coins also sliding. Copper futures fell nearly 1%, extending Wednesday's decline, while Asian stocks and Nasdaq index futures also tumbled. Concurrently, gold rose 1% and the 10-year U.S. Treasury yield fell by eight basis points to 5.08%, signaling a broad-based exit from riskier assets. InvestingLive analyst Giuseppe Dellamotta noted this points to a "stagflationary environment" where risk assets and the U.S. dollar underperform. CME fed funds futures now price in only a 29% chance of a Fed rate hike later this month, despite Wednesday's hotter-than-expected U.S. CPI report, as initial concerns appear to be fading. Traders are also watching the unwinding of the AI trade, with 10x Research preferring to hold Bitcoin above $78,000 and use Ether as a hedge.