Bitcoin slides under $78.5k as stocks end lower
Live updates: Bitcoin slips below $78,500 as stocks close lower
Bitcoin fell below the $78,500 level as broader risk markets weakened, following a session in which major US equity indexes finished lower.
The move came as US stock futures dipped in pre-market trading after the S&P 500 and Nasdaq Composite closed below their 50-day moving averages on Monday, reinforcing a cautious tone across markets tied to investor risk appetite.
In crypto trading, bitcoin’s decline was accompanied by a drop in the broader market. CoinDesk data showed bitcoin down about 1.7% over the past 24 hours, roughly in line with the CoinDesk 20 index, which was lower by around 1.2%.
Market commentary tied the pressure to macroeconomic crosscurrents, including rising bond yields, a stronger yen, and shifting expectations around Federal Reserve policy. Those factors have also weighed on other risk-sensitive assets, including technology stocks, while oil prices and government bond yields climbed globally.
Not all corners of crypto moved in lockstep. CoinDesk noted that some segments, including BNB-linked tokens and parts of the DeFi market, showed relative strength even as bitcoin slid.
The broader market backdrop remains mixed. Alongside currency and rate moves, commodities have been active as well, with copper pushing to a new record high amid supply shortages and rising AI-related demand.
