The Nasdaq and S&P 500 on Wednesday each suffered their worst declines since late 2022, but the price of bitcoinTuesday, with ETH dipping as low as $3,300, an almost 4% decline over the past 24 hours. It also hit its weakest price in two months versus bitcoin."The real money interest was strong enough to deem the launch a marginal success, aligning with general expectations, but not yet strong enough to demand a repricing," analysts at crypto market maker Wintermute said.
The moves came amid a drop in the U.S. stock market, with the Nasdaq plunging 3.6% and the S&P 500 slumping 2.1% amid disappointing earnings results from market bellwethers like Alphabet and Tesla . With ether ETFs launched, traders may shift their focus to an upcoming U.S. economic data release on Friday and Donald Trump's speech scheduled for Saturday at the Nashville Bitcoin conference.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.