Crypto stocks slide in pre-market trading as bitcoin stabilizes around $77,000

Market Reaction - Crypto-related U.S. equities experienced a decline in pre-market trading following President Trump's nomination of Kevin Warsh for Federal Reserve chair, leading to a significant selloff in the crypto market over the weekend [1] - Major publicly traded bitcoin holders, such as MicroStrategy (MSTR), saw a drop of more than 6%, while Galaxy Digital (GLXY) fell over 7% [2] Volatility and Market Indicators - The Volatility S&P 500 Index (VIX) increased by 10% on the day, indicating rising market volatility [3] - The Volmex implied volatility index surged from 40 to 50 over the past week, reflecting heightened market uncertainty and expectations of larger price movements [3] Asset Performance - Bitcoin (BTC) is trading near $77,000 after a low of $74,500, showing a slight increase of around 1% on the day [4] - Precious metals faced pressure, with gold and silver both declining by 4%, trading at $4,700 and $82 per ounce, respectively [4] - West Texas Intermediate oil futures fell by 5% to $62 a barrel [4] Currency Dynamics - The DXY index, which measures the dollar's strength against major currencies, slightly retreated to 97, indicating an inverse relationship with bitcoin as the dollar eases [5]