Live markets: bitcoin leads crypto slide even as tech sector closes sharply higher
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- Bitcoin slipped from just under $78,000 to below $76,000, a roughly 2% intraday decline, leaving it about 2% lower over the past 24 hours at $76,000.
- iShares Bitcoin Trust (IBIT) shares were sold in a $1.289 billion block trade through a dark pool at 10:30 am ET, executed by an unknown party.
- iShares Bitcoin Trust (IBIT) has been a leading source of institutional Bitcoin demand for the past two years, making its large block trades closely watched.
- Nasdaq closed the U.S. session up 1.2%, outpacing the broader market as tech stocks surged.
- S&P 500 rose 0.6% to stay at record highs, contrasting Bitcoin’s pullback.
Why it matters: Crypto investors lose roughly 2% of Bitcoin's price as institutional sellers offload $1.29bn of IBIT, while tech stocks gain, reinforcing a shift toward equities in the market.
