Major cryptocurrencies fell during US morning hours on Monday, continuing a now clear pattern of relatively poor performance while trading in US stocks.
Bitcoin is trading fairly stable just below $90,000 overnight fell to $86,800 in mid-morning US trading.
“Since the iShares Bitcoin ETF IBIT began trading, if you had only bought it after hours (buy the close, sell the next open), it has risen 222%,” Bespoke Investment noted. “If I had only owned the intraday (buy the open, sell the close), I would have been down 40.5%.”
Cryptocurrency stocks also started the week significantly lower, with Strategy (MSTR) and Circle (CRCL) falling around 7%. Coinbase (COIN) fell more than 5%, while trading platforms Robinhood (HOOD) and eToro (ETOR) faced smaller drops of around 2%. Brokerage Gemini (GEMI), which soared late last week following approval to add prediction markets to its offerings, retreated 10% on Monday.
Crypto miners, many of them closely tied to the data center infrastructure issue that took a hit last week amid artificial intelligence jitters, continued their downward trajectory. CleanSpark (CLSK), Cipher Mining (CIFR), Hut 8 (HUT), and TeraWulf (WULF) all recorded drops of more than 10%.
Macro news at your fingertips
As the U.S. government continues to strengthen following its prolonged shutdown, the Bureau of Labor Statistics will release employment reports for October and November this week. The data will be closely watched to help determine whether the Federal Reserve continues to cut interest rates in early 2026.
Meanwhile, the Bank of Japan is expected to raise its benchmark interest rate for the first time in almost a year.
The Bank of England and the European Central Bank will also meet later this week to discuss monetary policy.
