Bitcoin pulls back to $65,500 as Nasdaq sheds more than 1%
After opening with gains, the Nasdaq closed at a session low, down 1.15% on Tuesday. The S&P 500 fell 0.6%.
AI-related favorites like AMD (AMD), Intel (INTC), Micron (MU), and Broadcom (AVGO) were lower by 4%-8%, while Nvidia (NVDA) fell 1.9%.
SpaceX (SPCX) closed higher by "just" 4.8% at $201.80, but dipped about 10% from its morning high above $225.
Locked in a very tight range for most of the day, bitcoin (BTC) was trading at $65,500 as stocks closed, down 1.5% over the past 24 hours.
The largest decliners among crypto-related names were Bullish (BLSH), down 9.2% and Gemini (GEMI), down 8.2%.
All eyes on Wednesday will be on the Fed and its new Chairman Kevin Warsh as the U.S. central bank concludes its two-day meeting with updated economic projections and then a Warsh press conference.