Coindesk

CME's bitcoin futures, considered a proxy for institutional activity, gapped lower Monday in a sign of bearish sentiment after President Donald Trump ruled out a trade deal with China.The futures contract due to expire on the last Friday of April began trading at $79,590, down 5.6% from Friday's close of $84,250 and quickly descended to $76,800, CoinDesk data show.The losses came as Dow futures fell 900 points, Chinese stocks crashed, and the Japanese equity market slipped into lower circuit breakers as JPMorgan, S&P Global, and Goldman Sachs increased the probability of the U.S. falling into recession this year.On Sunday, Trump told reporters on Air Force One that he wanted to solve the trade deficit with China "and unless we solve that...

Futures tied to major tokens saw over $840 million in long liquidations in the past 24 hours as a bitcoin (BTC) plunge led to losses among major tokens, with some falling nearly 14%.CoinGlass data shows that bitcoin traders betting on higher prices lost over $322 million, while bets on ether (ETH) lost nearly $290 million. Smaller alternative tokens (altcoins) recorded nearly $400 million in liquidations — with futures tracking xrp (XRP) and Solana’s SOL seeing an unusually high $80 million in cumulative liquidations.BTC slid to under $77,000 in its worst start to a historically bullish month late Tuesday, with ether (ETH) down 15% to $1,500.SOL, XRP and dogecoin (DOGE) slid as much as 15%, before slightly recovering in Asian morning...

Bitcoin (BTC) traded above $79,000 Monday morning Asia time as markets around East Asia opened to chaos and carnage as the global sell-off continued.The CoinDesk 20 (CD20), a measure of the performance of the largest digital assets, is down 8%.Hong Kong’s Hang Seng Index is down over 8% during mid-morning trading, while Shanghai’s SSE Composite Index is down 7%, and the Taipei’s TAIEX is down 9%.Major tech stocks across the region were some of the hardest hit. Alibaba shares in Hong Kong were down 12% while Tencent was down 9%. In Taipei, TSMC stocks dipped 10% in the first few minutes of trading, triggering the exchange’s price variation limit which halts trading in either direction.TSMC’s correction comes as the White...

"Decoupling" and "safe haven" began to be used late last week as bitcoin (BTC) held its own despite the continuing tumble in stock markets in response to President Trump's sweeping tariffs against U.S. trading partners. Bitcoin bulls, though, may have spoken too soon.With stock trading closed for the weekend, fearful investors are perhaps turning to the 24/7 crypto markets to place bearish bets. In late Sunday afternoon action, bitcoin is trading just above $79,000 down 5% from 24 hours ago.Other majors are faring far worse, among them ether (ETH), lower by 11% to $1,590 and solana (SOL), down 10% to $107.The term "black monday" is trending on X — a reference to Monday October 19, 1987, when the Dow Jones...

Cathie Wood’s ARK Investment Management took advantage of the $5.4 trillion U.S. equities market sell-off and purchased over 83,000 shares of Coinbase (COIN), increasing exposure to the crypto exchange even as prices dipped sharply across the board.The total shares purchased were worth more than $13 million, taking Friday's closing price for Coinbase. According to ARK’s daily trading disclosure for April 4, Wood’s flagship ARK Innovation ETF (ARKK) bought nearly 55,000 Coinbase shares, with additional purchases coming from the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF). The timing is notable. Coinbase shares have slipped more than 12% during the market rout, while bitcoin and other cryptocurrencies showed resilience. The CoinDesk 20 (CD20) index dropped by...