Cryptocurrencies Fall Along With Nasdaq Futures — Market Talk
The expected lower open for the tech-heavy Nasdaq is weighing on cryptocurrencies, Standard Chartered's Geoffrey Kendrick says in a note. Nasdaq futures fall 4.5%, according to IG, on concerns that Chinese startup DeepSeek's new artificial intelligence model could threaten America's dominance in the industry. The fall in cryptocurrencies highlights the "strengthening relationship between digital assets and the tech sector," Kendrick says. Digital assets became exposed to a selloff after U.S. President Trump's executive orders for the industry underwhelmed, he says. Trump said he would consider a national digital asset stockpile but stopped short of announcing a strategic bitcoin reserve as some had hoped. Bitcoin falls 5.8% to $99,015 after hitting a one-and-a-half-week low of $97,810 earlier, according to LSEG. ([email protected])