Crypto-related U.S. stocks fell in pre-market trading as investors reacted to President Trump's nomination of Kevin Warsh for Federal Reserve chair, which triggered a crypto selloff over the weekend. MicroStrategy, the largest publicly traded holder of Bitcoin, dropped over 6%, while Galaxy Digital fell more than 7%. Bitcoin mining and AI-linked firms like IREN and Cipher Mining each lost around 4%, and Coinbase shares declined by roughly 4%.
Bitcoin, however, showed resilience, rising about 1% to trade near $77,000 after dipping to $74,500 on Saturday. Market volatility increased, with the Volatility S&P 500 Index up 10% and the Volmex implied volatility index climbing from 40 to 50 over the past week, indicating heightened market uncertainty. Meanwhile, precious metals and oil prices fell, with gold down 4% to $4,700 per ounce and West Texas Intermediate futures dropping 5% to $62 a barrel.
Crypto Stocks Decline in Pre-Market as Bitcoin Stabilizes Near $77,000
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