In brief – Bitcoin fell in sympathy with tech stocks on Tuesday, hitting a two-week low as investors appeared to fixate on expectations of rate hikes. – The weakness follows a frenetic rally in tech stocks; however, names attached to the AI boom were set to drag the Nasdaq…
wer. – Hashdex’s Gerry O’Shea pointed to the Clarity Act and further de-escalation on the Middle East as potential market catalysts. The price of Bitcoin and other cryptocurrencies fell in sympathy with tech stocks on Tuesday, indicating that investors’ appetite for risk is shifting across the board
The leading digital asset by market cap tested a two-week low of $62,000 as markets opened in the U.S., showing a 4% decrease over the past day, according to CoinGecko data. Ethereum, , and posted greater losses, with each falling at least 5% over the same period. The retreat echoed signs of pressure on Wall Street.
The tech-heavy Nasdaq was on track to slide 1.6%, weighed down by chipmakers including Micron Technology and SanDisk. Indexes in South Korea and Japan had fallen earlier, with losses led by other tech-boom names. Despite rising on Tuesday, SpaceX shares dropped 12% to $156.40 a day before, denting a post-debut pop for Elon Musk’s rocket-maker and AI firm, according to Yahoo Finance.