Pre-market trading stabilizes as bitcoin reclaims $66,000, Saylor eyes 100th BTC purchase
TL;DR
Pre-market trading stabilizes as bitcoin rebounds above $66,000 from $64,400, despite extreme fear in the market. Crypto-related stocks like MSTR and COIN trim losses, while precious metals gain amid risk aversion.
Key Takeaways
- •Bitcoin recovers to over $66,000 after a drop to $64,400, showing dip-buying interest despite the Fear and Greed Index at 6 for seven days.
- •Crypto equities such as MSTR, MARA, COIN, and BLSH are down about 2%, paring earlier declines, while broader tech ETFs like QQQ and IGV show modest losses.
- •Precious metals like gold and silver rise as safe-haven assets, with gold above $5,100 and silver near $87, amid a firm US dollar (DXY below 98).
- •Binance-linked bitcoin wallets hold about 676,835 BTC, a high since November 2024, with rising exchange balances potentially bearish for prices.
- •Market sentiment remains cautious due to geopolitical tensions and tariff uncertainties, but stabilization hints at limited broader selloff in tech sectors.
What to know:
- Strategy, MARA, Coinbase and Bullish trade about 2% lower, trimming earlier declines.
- Bitcoin rebounds from $64,400 to above $66,000, even as the Fear and Greed Index hits 6 and remains in extreme fear for a seventh straight day.
- Broader risk sentiment steadies, QQQ slips just 0.3% and IGV falls 1% near $80, while gold tops $5,100, silver nears $87 and the DXY holds just below 98.
In this article
- Strategy, MARA, Coinbase and Bullish trade about 2% lower, trimming earlier declines.
- Bitcoin rebounds from $64,400 to above $66,000, even as the Fear and Greed Index hits 6 and remains in extreme fear for a seventh straight day.
- Broader risk sentiment steadies, QQQ slips just 0.3% and IGV falls 1% near $80, while gold tops $5,100, silver nears $87 and the DXY holds just below 98.
Pre-market trading is showing signs of stabilization, with bitcoin rebounding above $66,000 after briefly falling to $64,400 on Sunday.
The move higher comes amid continued uncertainty surrounding President Trump’s proposed tariffs and U.S. tensions with Iran, factors that have weighed on broader risk sentiment.
Strategy (MSTR), the largest publicly traded holder of bitcoin, is down 2% in pre-market trading as it prepares to announce its 100th bitcoin purchase since embarking on its BTC treasury strategy in 2020.
Other crypto related equities have also pared earlier losses, with MARA Holdings (MARA), Coinbase (COIN), and Bullish (BLSH) are each down about 2%, trimming prior steeper declines. AI focused miners such as IREN (IREN) and Cipher Mining (CIFR) are faring slightly better, off roughly 1%.
The sharp Sunday drop pushed the Fear and Greed Index down to 6, marking fresh lows and extending a seven day stretch of extreme fear. Despite that, bitcoin’s recovery suggests dip buying interest is emerging at lower levels.
The broader selloff appears relatively contained within tech. Invesco QQQ (QQQ) is down just 0.3%, while the iShares Expanded Tech Software Sector ETF, (IGV), is lower by 1% near $80, underscoring the ongoing correlation between bitcoin and software stocks.
Precious metals are the clear beneficiaries of the risk aversion. Gold has climbed above $5,100 per ounce and silver is approaching $87. Meanwhile, the DXY index is hovering just below 98, reflecting a firm US dollar, weighing on risk appetite.
- Ricardo Salinas urged his followers to buy bitcoin as protection against inflation and control.
- Salinas said he has 70% of hits liquid assets in bitcoin during an interview last year, up from 10% in 2020.
- The Mexican crypto advocate has said he views fiat currency as fraudulent and positions bitcoin as the primary means of preserving purchasing power.
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