Bitcoin Rebound Stalls at $65K as Stocks Fall and Gold Rises
Bitcoin dropped over 3% to about $65,000 after briefly surpassing $69,000, following declines in stocks and a rise in gold prices. The S&P 500 fell 0.7% and the Nasdaq dropped 1.15%. Bitcoin is down 3.5% from last week and has remained around half its all-time high of $126,080 for most of the week. Market volatility was fueled by a sell-off, the start of a 10% global tariff, and later a recovery driven by Nvidia’s earnings. Without new catalysts, Bitcoin traded in a tight range between $65,000 and $69,000. Other major cryptocurrencies also declined: Ethereum fell over 5% to $1,918, XRP dropped about 4% to $1.35, and Solana slid over 5% to $81.50. Gold rose as investors sought safety. Crypto-related stocks suffered greater losses—CoreWeave fell 21% after missing earnings and receiving a lowered price target, while BitMine Immersion Technologies and Sharplink dropped 7.3% and 6.7%, respectively. In contrast, Block Inc. rose nearly 15% after significant staff cuts and an increased focus on AI.
