Bitcoin slipped 1.5% on Tuesday to $67,547, trading in a narrow range as holiday-thinned markets limited activity. Low volumes across several major global markets kept price swings small.
Bitcoin (BTC) Price
Caution was building ahead of key U.S. economic data. Investors are waiting on industrial production numbers, trade data, the PCE price index, and the Federal Reserve’s January meeting minutes due this week.
Bitcoin has now shed nearly 50% of its value since hitting a record high in October. The cryptocurrency came close to falling below $60,000 last week during a broader multi-month selloff.
Markets are also weighing the nomination of Kevin Warsh as Fed Chair. Warsh is seen as less dovish than expected, raising concerns that interest rates could stay higher for longer — a negative signal for speculative assets like crypto.
Broader risk sentiment pushed traders toward gold and physical assets. Volatility in U.S. tech stocks, which crypto tends to follow, also added pressure to the sector.
Strategy, the largest corporate Bitcoin holder, now holds 717,131 BTC. The company acquired those coins at a combined cost of around $54.52 billion, or roughly $76,027 per coin on average.
With Bitcoin trading near $68,000, Strategy is sitting on a paper loss of about $8,000 per coin. Across its full position, that amounts to an unrealized loss of approximately $5.7 billion.
Strategy also reported a deep loss in its fourth quarter. Concerns are growing about the company’s debt, parts of which are tied to the value of its Bitcoin holdings.
Strategy is not alone. Japanese company Metaplanet recorded a valuation loss of around 102.2 billion yen on its Bitcoin holdings in recent weeks.
Despite the losses, Strategy purchased another 2,486 Bitcoin last week for approximately $168.4 million.
U.S. stock futures were near flat Tuesday evening. Contracts tied to the Dow, S&P 500, and Nasdaq 100 all hovered close to the baseline.
E-Mini S&P 500 Mar 26 (ES=F)
During regular trading hours, the S&P 500 and Nasdaq each gained around 0.1%. The Dow added roughly 32 points.
Tech stocks remained under pressure. Strategy fell 3% and CrowdStrike dropped 3.6% as investors continued to assess AI’s long-term effect on business models.
The main event this week is Friday’s PCE index release, the Fed’s preferred inflation measure. Earnings from DoorDash, eBay, and Analog Devices are due Wednesday.
In the broader crypto market, Ether edged up 0.2% to $1,994. XRP fell 0.7% to $1.47, Cardano slipped 1.4%, and Dogecoin dipped 0.1%.
$TRUMP token added 1.4% on the day.
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