Home›Crypto›Market Structure›Bitcoin climbs above $63,000 as Nasdaq trims losses

Bitcoin climbs above $63,000 as Nasdaq trims losses

Bitcoin was up to about $63,300, still down around 2% over the prior 24 hours, while risk stocks including Micron and SanDisk pared earlier declines.

Reported · Written up by our desk · Market Structure

Bitcoin rebounded to about $63,300 after falling back from the $65,000 area earlier this week, as broader risk sentiment stabilized. CoinDesk said the move came alongside a pullback in early weakness in chip-related stocks that had deepened a global selloff.

CoinDesk reported that the Nasdaq narrowed its intraday decline to about 1% by midday, after initially dropping more sharply. It also noted that Micron and SanDisk each reversed sizable losses, with both trading more than 3% higher for the day at the time of the update.

The crypto rise was described as a modest recovery, with bitcoin still down roughly 2% over the past 24 hours, even as it traded above $63,000. CoinDesk also flagged that crypto-related names were moving with the risk backdrop, as the earlier selloff began to ease.

Latest closeBitcoin $81,906.63 ▼1.4%|Nasdaq Comp. 27,193.34 ▼1.2%

More like this

Sources