BTC slid to $106.8K as weakness in Big Tech spilled into crypto. Meta and Microsoft both fell despite strong earnings, weighed down by record AI spending ($70B+ and $93B in CAPEX). Macro uncertainty isn’t helping either, Trump’s meeting with Xi offered optics but few real trade concessions, keeping U.S.–China tensions unresolved. Data from Hyblock suggests the next liquidity zone sits near $103.8K, with extended downside risk below $100K if market sentiment doesn’t stabilize soon. What if the real headwind isn’t rates, but risk appetite itself?