• Bitcoin rebound fades as software and private equity rout drags stocks and crypto lower Crypto has been nearly perfectly correlated with a key software sector ETF, and that gauge has tumbled another 5% Monday to a new 52-week low. • What to know: Bitcoin slipped back to $65,400 during U.S. • trading Monday after it failed to hold a modest overnight rebound. • stocks were sharply lower, with the embattled software sector - of late perfectly correlated with crypto - down another 5% and private-equity shares continuing to plunge. • Bitcoin is acting like a “high-beta risk play,” not “digital gold” as investors pull back from speculative assets, LMAX strategist said. • Bitcoin’sBTC$64,768.11very modest rebound from its steep overnight selloff quickly fizzled out during U.S.
Article Summaries:
- Bitcoin fell back to $65,400 on Monday, sliding 35 % in 24 hours after an overnight rebound failed to hold. The decline mirrored a sharp 5 % drop in the iShares Expanded Tech‑Software ETF (IGV), which hit a new 52‑week low, and a broader sell‑off in private‑equity stocks such as Blackstone, Ares and Apollo. Analysts say crypto is acting as a high‑beta risk play rather than “digital gold,” with its price movements closely tracking tech‑sector sentiment. Market risk‑off sentiment has been fueled by concerns that AI could trigger a credit crisis and by uncertainty over U.S. tariffs.
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