Bitcoin slid on Tuesday as weakness in U.S. tech stocks appeared to spill over into crypto markets.
The crypto asset fell about 1% over the past 24 hours, trading at $106,175 at press time as traders took profits after ending June above the $107,000 for its highest-ever monthly close.
Sentiment equally soured in equities with shares of Tesla (TSLA) and Nvidia (NVDA) both taking heavy losses, dragging the Nasdaq lower by about 0.6% — a pattern that often weighs on digital assets. Tesla was lower by 5.4% in afternoon trade after the Donald Trump/Elon Musk spat re-erupted alongside the momentum for passage of the GOP’s spending bill.
Major altcoins including Solana SOL, Cardano ADA and Avalanche AVAX posted steep declines, adding to a broader downturn across the crypto space. SOL led the way with a 6% decline following yesterday’s spike higher on news of imminent launch of an ETF.
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