Bitcoin falls below $67,000 as US equities slide and Oil pushes higher
- Risk assets retreat, with Bitcoin down more than 2.5%, QQQ off 1% pre market, and crypto equities including Strategy, Coinbase, and Galaxy Digital falling around 2%.
- Defensive positioning builds as the dollar index climbs above 99 and Treasury yields push toward 4.1%, while oil holds firm above $74 amid ongoing geopolitical tension.
Day four of the Middle East conflict is bringing renewed volatility to global markets during Tuesday's pre-market, with a clear shift toward risk off positioning.
Bitcoin is down 3% over the past 24 hours, slipping below $67,000 after briefly touching $70,000 on Monday. In equities, the Invesco QQQ (QQQ) ETF closed slightly higher to start the week but is now down about 2% in pre market trading.
Metals are also under pressure. Gold and silver are both lower, with gold holding above $5,300 per ounce and silver sliding another 4% to around $85 per ounce.
In energy markets, WTI crude oil is above $74 per barrel up 5% over the past 24 hours, nearing Sunday futures highs just above $75. Meanwhile, the US dollar is strengthening sharply, with the DXY index climbing above 99, a level not seen since Jan. 20.
Treasury yields are edging higher across the curve. The US 10 year yield is holding firmly above 4% and pushing toward 4.1%, reflecting persistent rate pressure.
Crypto related equities are tracking bitcoin lower. Strategy (MSTR), the largest publicly traded holder of bitcoin, is down 2%. Coinbase (COIN) has fallen 5%, Galaxy Digital is off 3%, and AI focused miners IREN (IREN) and Cipher Digital (CIFR) are also down roughly 4%.
Author
CoinDesk Analysis Team
CoinDesk
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