Bitcoin stalls near $83,000 while lighter drops 17% on Robinhood perps plan
Bitcoin prices consolidated near $83,000 as markets await key U.S. inflation data, while the perpetual exchange token 'lighter' dropped 17% following Robinhood's entry into the derivatives market. Broader crypto markets showed mixed performance with memecoins outperforming while DeFi indices saw slight declines.
Why it matters
Market volatility and shifts in trading platforms reflect the ongoing maturation and speculative nature of the cryptocurrency ecosystem.
The 24-hour pictures is weaker as bitcoin lost around 1%, falling from a peak of $84,400 during Tuesday’s U.S. session. The CoinDesk DeFi index (DFX) fell 2.3%, the worst performance in the index family, as aave AAVE $161.08 retreated 4.4% after leading Tuesday's gains with an 11% jump.
Traditional markets were firmer, with S&P 500 futures up 0.27% and the Stoxx 600 up 0.74% in morning trade. That came even after the 30-year Treasury yield crossed 5.6% on Tuesday, its highest since June 2002, and the 10-year reached a fresh 2007 high near 5.3%, according to CNBC. Brent crude traded at $96.43 after falling on Tuesday, well below the $100 level that accompanied Monday's crypto selloff.
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