CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Bitcoin drops to $81,400 as Asian chip stocks tumble, options traders seek downside protection

CoinDesk logo

Published on

Add as a preferred source on Google
Bitcoin drops to $81,400 as Asian chip stocks tumble, options traders seek downside protection

Bitcoin BTC$81,710.06 slipped to around $81,400 on Tuesday, down 0.5% since midnight UTC, even after U.S. spot bitcoin exchange-traded funds attracted $526.6 million on Monday, their largest daily inflow in nearly a month.

Asian stocks set the tone, with South Korea’s benchmark Kospi index falling 3.73% to its lowest close since April 7 as SK Hynix and Samsung Electronics declined with renewed worries over AI spending weighing on chipmakers’ shares. Nasdaq 100 futures fell 0.31%.

Altcoin losses were broadly in line with bitcoin. Ether ETH$2,386.10 fell 0.9% to near $2,385 and the CoinDesk 80 (CD80) lost 0.34%, compared with a 0.33% drop for the bitcoin-heavy CoinDesk 5 (CD5). DeFi gave back Monday’s lead, with the sector index (DFX) dropping 1.2%, the weakest of the CoinDesk benchmarks.

Brent crude is near $110 a barrel as Houthi attacks on Saudi Arabia keep supply risks in view. Roughly 70 S&P 500 companies report earnings this week, with General Motors before the bell and United Airlines after the close.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.



Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.