Bitcoin clawed back part of its earlier decline after slipping to $63,065 during Asian trading, with CoinDesk data showing the cryptocurrency changing hands at around $63,500 at the time of writing. Even with that bounce, BTC remained down 0.3% since midnight UTC and nearly 3% over the past 24 hours.
Pressure in broader risk markets persisted. E-mini Nasdaq futures fell to 27,930, their lowest level since May, and were down 1.2% for the week after peaking near 31,000 in June. On Monday, Nvidia (NVDA), a heavyweight in the index, dropped nearly 5%.
The weakness also showed up across Asia. South Korea’s Kospi slid 10% earlier in the day, while other regional benchmarks, including Japan’s Nikkei, posted more moderate losses. The price action left bitcoin stabilizing off intraday lows even as equity markets continued to reflect deeper risk aversion.
Bitcoin recovered some ground after falling to an Asian-session low, even as risk aversion in equity markets appeared to deepen.
CoinDesk data showed BTC trading at around $63,500 at the time of writing, up from its Asian low of $63,065. Even so, prices were still down 0.3% since midnight UTC and nearly 3% over the past 24 hours.
Nasdaq futures hit their lowest level since May
At the same time, e-mini futures tied to the Nasdaq slipped to 27,930, the lowest reading since May. The contract was down 1.2% for the week after peaking near 31,000 in June.
On Monday, Nvidia (NVDA), one of the index’s heavyweight components, fell nearly 5%.
Asian equities also moved lower
Earlier in the day, South Korea’s Kospi index dropped 10%. Other regional indexes, including Japan’s Nikkei, also declined, though their losses were described as more measured.
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