BTC drops below $73,521.29, diverging from S&P 500 and Nasdaq 100 gains near record levels.
Bitcoin slid to its lowest level since early April, trading at $73,521.29 after failing to sustain a breakout above $83,000. The decline extends a pattern of lower highs dating back to October, raising concerns of a potential bear market signal despite broader market strength in U.S. equities.
S&P 500 and Nasdaq 100 futures rose 0.15% on Friday, nearing all-time highs, while BTC struggled to recover. Ether mirrored the decline, dropping to $1,965 before rebounding above $2,000. Derivatives markets showed mixed signals, with implied volatility hitting its lowest since September but demand for downside protection increasing.
Stellar surged 25% after DTCC announced plans to integrate its tokenized securities platform, while Bitcoin Cash fell 7.2%, deepening its weekly loss to 20%.