Bitcoin (BTC) has managed to recover some ground after hitting lows during the Asian trading session, even as equity markets show increasing signs of risk aversion.
The top cryptocurrency by market capitalization is currently trading around $63,500, bouncing back from a low of $63,065 earlier in Asia, as reported by CoinDesk. Despite this recovery, Bitcoin remains down by 0.3% since midnight UTC and has declined nearly 3% over the past 24 hours.
In contrast, e-mini futures for the Nasdaq have fallen to 27,930 points, marking the lowest level since May, and are down 1.2% this week after reaching around 31,000 in June. On Monday, shares of NVDA, a key player in the index, dropped nearly 5%.
Additionally, South Korea's Kospi index experienced a significant drop of 10%, while other regional indices, including Japan’s Nikkei, saw more moderate declines.