Evening digest: Bitcoin crashes, weight-loss drug price war, Saudia’s fleet expansion

Markets are being jolted across asset classes as risk appetite frays.

Bitcoin has cracked a key support level, deepening fears the crypto sell-off has further to run. In equities, Hims & Hers has ignited a price war in weight-loss drugs, rattling Big Pharma.

Commodities are back under pressure as gold and silver slide sharply after a volatile week.

Meanwhile, aviation heats up as Saudia weighs a historic aircraft order that could reshape global jet markets.

Bitcoin’s $67K breakdown

Bitcoin has capitulated below the critical $67,000 support, and technical analysts warn the bottom isn't in yet.

The sell-off is being driven by a "perfect storm" of macro headwinds as Treasury Secretary Bessent’s explicit rejection of a crypto bailout, relentless ETF outflows, and over $16 billion in forced leverage liquidations.

Chart watchers are now eyeing the $62,000–$65,000 zone as the next logical floor.

With the 200-week moving average under siege and sentiment firmly in "extreme fear" territory, the market lacks the immediate buy-side liquidity to stage a reversal, suggesting this correction has more room to run.

Hims & Hers starts a weight-loss price war

Hims & Hers just nuked the GLP-1 pricing model.

By launching a compounded oral semaglutide pill for $49 a month, they aren’t just undercutting Novo Nordisk; they are brazenly challenging Big Pharma’s moat.

This is a direct shot at Novo’s newly launched oral Wegovy, which runs nearly $200 even with discounts. Investors see the threat: Novo shares slumped 6% immediately.

While Novo’s CEO dismisses the copycat as a "waste," Hims is betting that consumers, tired of navigating insurance hurdles and shortages, will flock to a cash-pay option that costs less than a gym membership.

The regulatory fight over "compounded" drugs is about to get very ugly.

Commodities face another sell-off

Gold's recovery attempt hit a wall on Thursday, with prices sliding back into the red as volatility continues to grip the precious metals market.

After briefly reclaiming the $5,000 level, spot gold gave up those gains to trade down 0.8% at roughly $4,926 an ounce, finding itself unable to sustain momentum against a wave of profit-taking.

Futures for April delivery mirrored the weakness, hovering near $4,942 after a wild session that saw prices swing by over $200.​

Silver, however, bore the brunt of the damage.

The metal capitulated in a violent 13% drop to around $73.60 an ounce, effectively wiping out the relief rally seen earlier in the week.

Traders are now watching the $4,700–$4,800 zone for gold as a critical line in the sand; failing to hold that floor could signal that the correction has further to run.

Saudia eyes historic fleet expansion

Saudia Airlines is negotiating a potential blockbuster order for at least 150 jets, pitting Airbus against Boeing in a winner-take-all contest.

The airline is shopping for both narrowbody and widebody aircraft to modernize its fleet and support Vision 2030’s aggressive tourism targets.

This deal would eclipse its previous record-breaking purchase of 105 Airbus jets in 2024.

While talks are early and fluid, the scale is massive, potentially reshaping order books for years.

Meanwhile, Riyadh Air is also hunting for 50 widebodies, signalling a coordinated Saudi push to dominate regional skies.