U.S. Crypto stocks slide in pre-market trading as BTC price stabilizes around $77,000
U.S. crypto stocks declined in pre-market trading following market digestion of a new Fed chair nominee, while Bitcoin stabilized near $77,000.Summary
Crypto-related U.S. equities experienced a decline in pre-market trading as investors reacted to President Donald Trump's nomination of Kevin Warsh as the new Federal Reserve chair, an event that contributed to a sharp crypto selloff over the weekend. Major crypto-linked stocks saw significant drops, with MicroStrategy (MSTR) falling over 6% and Galaxy Digital (GLXY) dropping more than 7%; mining and AI-linked firms like IREN and Cipher Mining also weakened by about 4%, as did Coinbase (COIN).
Market volatility is increasing, evidenced by the S&P 500 Volatility Index (VIX) rising 10% and the Volmex implied volatility index surging from 40 to 50, signaling greater expected price swings. In contrast to the crypto equities, U.S. equity index futures showed slight recovery, though precious metals like gold and silver, along with oil, remained under pressure.
Bitcoin itself was trading near $77,000, up about 1% on the day after dipping to $74,500 on Saturday. The dollar index (DXY) pulled back slightly to 97, continuing the inverse relationship observed between the dollar and Bitcoin recently.
(Source：CoinDesk)