Bitcoin's early crash to $60,000, seen as a warning for the global stock market, has been confirmed by some currency traders. The price of the cryptocurrency peaked above $126,000 in early October and began falling, eventually reaching $70,000. The sell-off saw rapid outflows from U.S.-listed spot ETFs, which were flagged by CoinDesk in January. Meanwhile, key stock indices like the S&P 500 have been trading in a range similar to Bitcoin's volatility. Todd Stankiewicz, president and chief investment officer of SYKON Capital, noted that bitcoin's tendency to peak before its peers in three key instances: late 2017, weeks before the COVID crash, and late 2021.