Lana

When those firms get jittery, they often sell whatever is easiest to turn into cash, including the OG crypto.

Institutional investors use leverage more too.

So Bitcoin's falling price forced those traders working with borrowed funds to sell, making the drop that much steeper.

That's it for today.

I'm Lana.

I'll see you tomorrow.

Hey, I'm Lana with your daily brief for Wednesday, February 4th.

Coming up, the US and India struck a trade deal with both sides agreeing to trim tariffs.

And China made a record-breaking investment in its power grid, determined to keep the AI lights on.

We'll also check in with Carl to get his answers to your burning questions.

More on the way, but first, a word from Guy at Finimize HQ.

India inked a tariff-trimming trade deal with the U.S.

on Tuesday, and the country's Nifty 50 stock market index cashed in on the savings.

The U.S.

will cut two of the taxes it stamps on Indian goods.

First, it'll trim overall reciprocal tariffs from 25% to 18%, in line with most other Asian countries.

And second, it'll scrap the punitive 25% levies imposed when India bought Russian oil, with the country's prime minister agreeing to halt those purchases.

In return, India will cut tariffs on American imports to zero.

Yep, zilch.

And if you believe the US president's social posts, India will sweeten the deal by snapping up around $500 billion of American goods and services.