In Japan, the Nikkei 225 closed 1.9% higher, while European indices mirrored the cautious optimism. However, Wall Street struggled to catch the global tailwinds. By 12:45 p.m. Eastern, the Nasdaq had shed 248 points, or 1.09%, the S&P 500 was down 1.25%, and the Dow Jones Industrial Average trailed with a nearly 2% loss.
FAQ What caused bitcoin’s recent drop on March 5? Bitcoin dropped after a three-day rally, falling to an intraday low of $70,902 before stabilizing around $71,000. How did bitcoin perform over the past week? Despite the recent decline, Bitcoin remains up over 6% this week amidst ongoing geopolitical tensions. How did global markets react compared to bitcoin? While Bitcoin struggled, Asian markets surged, with South Korea’s Kospi rising by 9.6%, contrasting with declines in U.S. markets. What impact did the March 5 retreat have on bitcoin’s market cap? The decline on March 5 wiped out approximately $40 billion, bringing Bitcoin’s market capitalization to $1.42 trillion.Bitcoin Pulls Back to $71K as War Fears Persist and Arthur Hayes Warns of ‘Risk Phase’
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