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Crypto Equities Slide in Pre-Market After Bitcoin Falls to $80K
Bitcoin fell as low as $80,226 with the leading altcoins all registering significant losses.
What to know:
- Cryptocurrency's extended sell-off bled through to equity markets on Monday as crypto-adjacent companies saw losses in pre-market trading.
- Strategy (MSTR) and Coinbase (COIN) both fell over 5% in pre-market.
Cryptocurrency's extended sell-off bled through to equity markets as crypto-adjacent companies saw losses in pre-market trading on Monday.
Strategy (MSTR) and Coinbase (COIN) both fell over 5%, while bitcoin mining firms MARA Holdings (MARA), Riot Platforms (RIOT), Core Scientific (CORZ) and CleanSpark (CLSK) traded lower by at least 2.5%.
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Coinbase's slide to under $205 compounded the crypto exchange's woes as it failed to make the cut for inclusion on the S&P 500 in the index's latest rebalancing.
Bitcoin fell as low as $80,226, with the leading altcoins also registering significant declines as the threat of tariffs being imposed by President Trump have weighed on risk assets like crypto and equities.
This bearish atmosphere has culminated in the crypto fear and greed index falling to a multiyear low of 17, indicating "extreme fear."
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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