Bitcoin climbs to $80,800 as Nasdaq narrows loss
SkimNews Take
Bitcoin's resilience amid broader market turbulence suggests it is increasingly seen as an alternative store of value, rather than simply a high-beta tech asset.
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- Bitcoin rose more than 1% from its session low to $80,800, after earlier falling nearly 2% during the day.
- Nasdaq narrowed its loss to 0.7% by the close, after a near‑2% dip earlier.
- S&P 500 slipped 0.15% at the close, while the Dow Jones edged higher.
- Hut 8 (HUT) led crypto‑related equities with a 4.5% gain; IREN, Fold, and Figure also posted gains.
- Bitcoin dominance rose above 58%, per The Block, signaling a consolidation phase in the crypto market.
Why it matters: Crypto investors benefit from Bitcoin’s $80,800 surge and higher dominance, while lagging crypto stocks face pressure; the rally drives fresh capital into digital assets as equities wobble.
