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Pre-market trading steadies as bitcoin recovers to $66,000, Saylor prepares for 100th BTC acquisition.
President Trump’s suggested tariffs and rising tensions with Iran have impacted overall risk sentiment.
BTC Price (CoinDesk data)
What to know:
- Strategy, MARA, Coinbase, and Bullish are trading approximately 2% lower, reducing earlier losses.
- Bitcoin has bounced back from $64,400 to exceed $66,000, despite the Fear and Greed Index reaching 6 and remaining in extreme fear for a seventh consecutive day.
- Overall risk sentiment is stabilizing, with QQQ decreasing by only 0.3% and IGV dropping 1% near $80, while gold surpasses $5,100, silver nears $87, and the DXY stays just below 98.
Pre-market activity indicates signs of stabilization, with bitcoin recovering above $66,000 after a brief dip to $64,400 on Sunday.
This upward movement occurs amid persistent uncertainty regarding President Trump’s proposed tariffs and escalating tensions with Iran, elements that have influenced broader risk sentiment.
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Strategy (MSTR), the largest publicly listed bitcoin holder, has decreased by 2% in pre-market trading as it prepares to announce its 100th bitcoin acquisition since initiating its BTC treasury strategy in 2020.
Other crypto-related stocks have also reduced earlier losses, with MARA Holdings (MARA), Coinbase (COIN), and Bullish (BLSH) each down around 2%, lessening prior sharper declines. AI-focused miners such as IREN (IREN) and Cipher Mining (CIFR) are performing slightly better, down approximately 1%.
The significant drop on Sunday led the Fear and Greed Index to fall to 6, marking new lows and extending a seven-day period of extreme fear. However, bitcoin’s resurgence indicates that buying interest is developing at lower price points.
The wider selloff appears to be largely confined to the technology sector. Invesco QQQ (QQQ) has declined by just 0.3%, while the iShares Expanded Tech Software Sector ETF (IGV) is down 1% near $80, highlighting the ongoing correlation between bitcoin and software stocks.
Precious metals are clearly benefiting from the risk aversion trend. Gold has risen above $5,100 per ounce, and silver is nearing $87. Simultaneously, the DXY index is hovering just below 98, signifying a strong US dollar, which is affecting risk appetite.
