Bank of America Analyst Says Bitcoin in Oversold Sector



Michael Hartnett warned that if the S&P 500 declines further to around 6,600, it could trigger policy responses from the White House or the Federal Reserve.

Hartnett cited surging oil prices, prolonged Iran conflict, and global instability as triggering factors.

He also noted that assets such as gold, semiconductors, and European equities are already in overbought conditions, while oversold sectors including software, bank loans, and Bitcoin could stabilize after policymakers intervene.

Potential intervention measures include easing tariffs, promoting conflict de-escalation, or the Federal Reserve implementing stimulus measures such as rate cuts and bond purchases.
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