Bitcoin (BTC) and the broader cryptocurrency market registered a strong bounce back in the Asian trading hours on Monday, April 15, following the launch of Hong Kong spot Bitcoin ETFs. However, later in the day, the slump in the US market poured cold water over the crypto market recovery with the Bitcoin price tanking over 4.5% and slipping under $62,500 levels.
Dow Jones Drop for Sixth Consecutive Session
The Dow Jones Industrial Average ended in negative territory for the sixth consecutive session in a row. On Monday’s closing, the Dow Jones ended 250 points down at 37,735 levels.
U.S. stocks continued their decline from the previous week as Treasury yields surged in response to a robust consumer spending report. The Nasdaq Composite witnessed a sharp drop of 1.8%, while the S&P 500 retreated by 1.2% and the Dow Jones Industrial Average experienced a 0.7% decline.
The increase in Treasury yields was propelled by a consumer spending report that surpassed expectations, further el
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