Bitcoin

While Motorola's Razr Ultra launch is irrelevant to blockchain fundamentals, the Extreme Fear reading in crypto (historically a contrarian buy signal) suggests capital is rotating out of risk assets. Consumer electronics launches often compete for consumer discretionary spending, but in a bearish macro environment, even a novel fabric phone won't divert attention from the liquidity crunch affecting BTC and altcoins.

Motorola released the new Razr Ultra phone with a soft Alcantara fabric back panel.