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▲ Bitcoin (BTC), decline, bear market/ChatGPT generated image
Concerns over the spread of Hantavirus have reawakened memories of the March 2020 crash in the Bitcoin (Bitcoin, BTC) market. As the World Health Organization (WHO) confirmed cases of Hantavirus infection and deaths on the MV Hondius cruise ship, some investors are paying attention to the possibility of a repeat of the risk asset sell-off shock similar to the early days of the COVID-19 pandemic.
BeInCrypto reported on May 6 that the World Health Organization confirmed 7 Hantavirus infections and 3 deaths on the MV Hondius cruise ship. One of the infected individuals is in critical condition, and three reportedly showed mild symptoms. The original text states that 147 passengers and crew were on board the cruise ship, which departed from Ushuaia, Argentina, on April 1, 2016.
Hantavirus is a severe viral disease that can be transmitted through contact with the urine, droppings, or saliva of infected rodents. The original text explained that the fatality rate in the Americas can be as high as 50%, and there is no approved vaccine or specific antiviral treatment. While the WHO currently assesses the overall risk as low, it has not ruled out the possibility of human-to-human transmission among close contacts on the cruise ship.
The WHO stated that a 69-year-old Dutch woman died after disembarking in Saint Helena on April 24 and traveling to Johannesburg. Currently, more than 80 passengers and 6 crew members who used flights in the same region are being traced. Swiss authorities also confirmed a case of Hantavirus among passengers on the MV Hondius.
Behind Bitcoin investors' sensitive reaction is the 'Black Thursday' crash of March 2020. After the World Health Organization declared COVID-19 a pandemic on March 11, 2020, global markets plummeted, and Bitcoin lost more than 50% of its value within 48 hours. At that time, Bitcoin fell to a low of approximately $4,000, and the total cryptocurrency market capitalization was halved in a matter of days.
At that time, the 'digital gold' narrative of Bitcoin temporarily collapsed in the market. Investors liquidated their positions to reduce risk, and Bitcoin moved more like a means of securing liquidity than a safe-haven asset. However, Bitcoin recovered the price it lost during the March 12 crash in about a month and a half, leading to a major bull run thereafter.
BeInCrypto also emphasized that the current situation is different from 2020. The World Health Organization views the global risk of Hantavirus as low, and so far, its spread is assessed to be limited to the cruise ship environment. No community transmission on the mainland has been confirmed yet. The original text explained that Hantavirus does not spread as easily as SARS-CoV-2, and human-to-human transmission is exceptional and requires very close contact.
The structure of the Bitcoin market has also changed since 2020. BeInCrypto stated that Bitcoin is now a more mature asset, with corporate treasury holdings, approved spot ETFs, strategic reserves backed by the White House, and expanded institutional participation. Compared to March 2020, when Bitcoin was considered a peripheral asset, the market foundation has significantly changed.
Nevertheless, investors are closely monitoring the Hantavirus situation. The original text explained that if the spread of infection worsens or additional deaths occur, risk-averse sentiment could emerge in the market, and the shock could first affect Bitcoin and illiquid altcoins. X (formerly Twitter) user onchainmonk said, “Please, let Bitcoin rise for just one month without war or coronavirus.”
The key to market impact is the speed of the health response. If the World Health Organization controls the spread and rules out sustained human-to-human transmission, the impact on financial and virtual asset markets could be limited and short-lived. Conversely, if it escalates into a global spread, immediate macroeconomic uncertainty will increase, and Bitcoin could experience an initial shock similar to March 2020. However, BeInCrypto stated that the depth and duration of the shock could vary depending on monetary policy responses and recent institutional fund flows.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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