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The crypto market pulled back during Asian and European hours on Monday, with bitcoin BTC $ 62,759.56 falling to $63,100 from above $64,300 at the weekly close at midnight UTC. That's a decline of about 1%.
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U.S.-Iran hostilities over Strait of Hormuz drag crypto lower after positive week: Crypto Markets Today
The crypto market pulled back during Asian and European hours on Monday, with bitcoin BTC $ 62,759.56 falling to $63,100 from above $64,300 at the weekly close at midnight UTC. That's a decline of about 1%.
The crypto market pulled back during Asian and European hours on Monday, with bitcoin BTC $ 62,759.56 falling to $63,100 from above $64,300 at the weekly close at midnight UTC.
That's a decline of about 1%. Steeper losses hit the altcoin market. Lighter (LIT) led the downside cascade, sliding 8% in its first major selloff since rallying by more than 200% over the past two months.
The exit from riskier assets was felt across equity markets, too. South Korea's Kospi index lost 9.2% as SK Hynix, the memory-chip maker that went public in the U.S. on Friday, slumped 15%. Japan's Nikkei and China's SSE both fell more than 2%.
The drops reflected reignited tensions in the Middle East as Iran and the U.S. fought over control of the Strait of Hormuz, with both nations firing airstrikes against each other.
U.S. equities are also indicated to open lower, with Nasdaq 100 index futures and S&P 500 futures losing 0.9% and 0.25% since midnight, respectively.
It's worth noting that going into the weekend bitcoin and the broader crypto market enjoyed a period of bullish price action, steering itself away from immediate danger, and Monday's selloff could also be attributed to profit-taking.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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