U.S. Crypto stocks slide in pre-market trading as BTC price stabilizes around $77,000
Crypto-related U.S. equities fell in pre-market trading as market participants continued to digest President Donald Trump’s Friday choice of Kevin Warsh as his nominee for Federal Reserve chair, which spilled over into a sharp crypto selloff over the weekend.
Strategy (MSTR), the largest publicly traded holder of bitcoin, fell more than 6%, while Galaxy Digital (GLXY) dropped over 7%. Bitcoin mining and AI-linked companies are also weaker, with IREN (IREN) and Cipher Mining (CIFR) both losing around 4%. Crypto exchange Coinbase (COIN) is also lower by roughly 4%.
Volatility continues to rise, with the Volatility S&P 500 Index (VIX) up 10% on the day. The Volmex implied volatility index has surged over the past week, climbing…
