Major cryptocurrencies fell during early U.S. trading on Monday, continuing a clear pattern of relatively poor performance during U.S. stock trading.
Bitcoin trading was pretty steady overnight, just below $90,000 It plunged to $86,800 in early US trading.
“Since the iShares Bitcoin ETF IBIT began trading, if you had only held it in after-hours trading (buy on the close, sell on the next open), it would have risen 222%,” Bespoke Investment noted. “If you had only held the stock intraday (buy on the open, sold on the close), it would have fallen 40.5%.”
Cryptocurrency stocks also started the week sharply lower, with Strategy (MSTR) and Circle (CRCL) both down around 7%. Coinbase (COIN) fell more than 5%, while trading platforms Robinhood (HOOD) and eToro (ETOR) fell more modestly, around 2%. Brokerage firm Gemini (GEMI), which surged late last week after receiving approval to add prediction markets to its products, fell 10% on Monday.
Cryptocurrency miners, many of which are closely tied to data center infrastructure themes, continued their downward trend last week as jitters over artificial intelligence took a hit. CleanSpark (CLSK), Cipher Mining (CIFR), Hut 8 (HUT) and TeraWulf (WULF) are all down more than 10%.
Macro news real-time reporting
The Bureau of Labor Statistics will release its employment report for October and November this week as the U.S. government continues to ramp up efforts after a long shutdown. The data will be closely watched to help determine whether the Federal Reserve will continue 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 nearly a year.
The Bank of England and the European Central Bank will also meet later this week to discuss monetary policy.
