TLDR Bitcoin traded near $77,000 on Monday after dropping to $74,500 over the weekend following Trump’s Federal Reserve chair nomination Strategy (MSTR) fell overTLDR Bitcoin traded near $77,000 on Monday after dropping to $74,500 over the weekend following Trump’s Federal Reserve chair nomination Strategy (MSTR) fell over

Crypto Stocks Drop in Pre-Market Trading as Bitcoin Hovers Near $77,000

TLDR

  • Bitcoin traded near $77,000 on Monday after dropping to $74,500 over the weekend following Trump’s Federal Reserve chair nomination
  • Strategy (MSTR) fell over 6% in pre-market trading while Galaxy Digital (GLXY) dropped more than 7%
  • The VIX volatility index jumped 10% while the Volmex implied volatility index climbed from 40 to 50 over the past week
  • Gold declined 4% to $4,700 per ounce and West Texas Intermediate crude oil fell 5% to $62 per barrel
  • The dollar weakened slightly to 97 on the DXY index, showing an inverse relationship with bitcoin prices

Crypto-related stocks fell in pre-market trading on Monday as investors continued to react to President Donald Trump’s nomination of Kevin Warsh as Federal Reserve chair. The announcement on Friday triggered a sharp selloff in crypto markets over the weekend.

Bitcoin rose 1% to trade near $77,000 after hitting a low of $74,500 on Saturday. This marked the cryptocurrency’s lowest intraday level since April 7, 2025.

Bitcoin (BTC) PriceBitcoin (BTC) Price

Strategy (MSTR), the largest publicly traded holder of bitcoin, dropped more than 6% in pre-market trading. Galaxy Digital (GLXY) fell over 7%.

Bitcoin mining and AI-linked companies also declined. IREN (IREN) and Cipher Mining (CIFR) both lost around 4%. Crypto exchange Coinbase (COIN) fell roughly 4%.

Other crypto stocks showed similar weakness. Bitmine Immersion Technologies (BMNR) shares dropped nearly 11%. Bit Digital (BTBT) fell 5.4%. MARA Holdings (MARA) decreased 5.5%.


BMNR Stock Card
Bitmine Immersion Technologies, Inc., BMNR

Market volatility surged across asset classes. The Volatility S&P 500 Index (VIX) rose 10% on the day.

The Volmex implied volatility index climbed from 40 to 50 over the past week. Higher implied volatility readings indicate traders expect larger price swings and greater uncertainty ahead.

Market Pressure Spreads Beyond Crypto

Traditional safe-haven assets also faced selling pressure. Gold fell 4% to $4,700 per ounce. Silver slid 4% to $82 per ounce.

Energy markets weakened as well. West Texas Intermediate crude oil futures dropped 5% to $62 per barrel.

U.S. equity index futures showed modest losses. The Invesco QQQ ETF (QQQ), which tracks the Nasdaq 100 Index, declined less than 1% in pre-market trading.

Dollar Weakness Correlates with Bitcoin Recovery

The DXY index, which measures the dollar against a basket of major currencies, pulled back slightly to 97. CoinDesk Research noted an inverse relationship between bitcoin and the DXY last week.

Bitcoin ticked higher as the dollar eased on Monday. The cryptocurrency showed gains coinciding with the weakening U.S. dollar.

Traders continued to digest the implications of Trump’s Fed chair nomination. The announcement sparked increased uncertainty in financial markets.

Bitcoin’s recovery from its weekend low suggested some stabilization in crypto markets. The cryptocurrency remained well below its recent highs but found support above $75,000.

Crypto-related equities continued to face pressure despite bitcoin’s modest gains. The disconnect reflected broader concerns about market volatility and economic policy uncertainty.

Market participants watched for further developments related to the Federal Reserve chair nomination. Trading volumes remained elevated across crypto and traditional markets.

The post Crypto Stocks Drop in Pre-Market Trading as Bitcoin Hovers Near $77,000 appeared first on CoinCentral.

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