Pre-market trading is showing signs of stabilization, with bitcoin bouncing above $66,000 after briefly falling to $64,400 on Sunday.
The bullish move comes amid continued uncertainty surrounding President Trump’s proposed tariffs and US tensions with Iran, factors that have weighed on broader risk sentiment.
Strategy (MSTR), the largest publicly traded bitcoin holder, is down 2% in pre-market trading as it prepares to announce its 100th bitcoin purchase since embarking on its BTC treasury strategy in 2020.
Other cryptocurrency-related stocks have also pared earlier losses, with MARA Holdings (MARA), Coinbase (COIN), and Bullish (BLSH) each down about 2%, paring steeper earlier declines. AI-focused miners, such as IREN (IREN) and Cipher Mining (CIFR), are doing slightly better, by about 1%.
Sunday’s sharp drop sent the Fear and Greed Index down to 6, setting new lows and extending a seven-day streak of extreme fear. Despite that, bitcoin’s recovery suggests buying interest is surging at lower levels.
The broader selloff appears relatively contained in the technology sector. Invesco QQQ (QQQ) is down just 0.3%, while the iShares Expanded Tech Software Sector ETF (IGV) is down 1% near $80, underscoring the current correlation between bitcoin and software stocks.
Precious metals are the clear beneficiaries of risk aversion. Gold has risen above $5,100 an ounce and silver is approaching $87. Meanwhile, the DXY index hovers just below 98, reflecting a firm US dollar, weighing on risk appetite.
