Markets
What to know:
- Bitcoin, that shy dragon of markets, crept up by a neat one per cent to hover near seventy-seven thousand after a weekend’s sharp descent, its modest ascent flirting with a weakening dollar and a bouquet of implied volatility blooming like late-spring theater.
- Risk assets wore their burdens with stoic fashion, volatility measures galloping upward, and crypto-adjacent equities-Strategy, Galaxy, Coinbase-extending their losses into the predawn hours of pre-market trading, like well-dressed dominoes.
In the hushed chamber of pre-market panic, crypto-connected stocks sagged as traders gnawed over President Trump’s Friday whim-Kevin Warsh as Fed chair-an announcement that trembled the weekend and toppled more than a few crypto dominoes. Strategy (MSTR), the herd’s largest publicly traded bitcoin custodian, sagged past six percent; Galaxy Digital (GLXY) slid more than seven; bitcoin-mining and AI-adjacent firms, IREN and Cipher Mining (CIFR), sagged about four percent; Coinbase (COIN) followed suit in its own dreary chorale.
Volatility luxuriates in ascent, the VIX stealing ten percent of the day’s thunder; Volmex’s whiskered candleflame has climbed from forty to fifty over the week, as if the market itself were writing telegrams to the future with a jagged quill. Implied volatility- that sly gossip of future swings-whispers of greater mischief and the likelihood of more dramatic capers on the price-chessboard.
Bitcoin, that courteous flirt, added about a percent, strolling near seventy-seven grand after a Saturday flirtation with seventy-four thousand five hundred. The hard, gleaming metals-oh, those poor ornaments of fear-continue their tumble: gold down four percent to four thousand seven hundred per ounce, silver slipping the same melancholy four to eighty-two per ounce. Oil too wears a dull face; West Texas Intermediate surrenders five percent to sixty-two dollars a barrel.
U.S. equity futures, in a tepid shimmy, recovered a trace; the Invesco QQQ ETF (QQQ), steward of the Nasdaq 100, sagged by less than one percent in the pre-market hush.
The DXY, that stern meter of dollar puissance, has slipped back to the neighborhood of 97. CoinDesk Research observes that bitcoin and the dollar share a flirtatious inverse dance; as the greenback loosens its grip, bitcoin points its quivering wand skyward once more.
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2026-02-02 14:46