General Motors just dropped a bombshell: a $7.1 billion charge related to scaling back its electric vehicle ambitions. That follows a $1.6 billion hit the company announced previously. The speed of this strategy reversal is eye-opening.

What's striking here is how quickly the EV narrative is shifting in traditional manufacturing. When legacy automakers start taking massive charges and retreating from electrification plans, it signals broader economic pressures—rising costs, shifting consumer demand, capital constraints. These macro headwinds ripple through markets, including crypto and digital assets.

The charging infrastructure bets, supply chain bets, and investor enthusiasm around EV growth are all being recalibrated. Big money doesn't just pivot on whim. This kind of pullback often precedes broader market repositioning.