By Joseph Wilkins and Dean Seal
Bitcoin stuck near $80,000 to start the week as investors continue to shake off last week's stock market declines.
The flagship cryptocurrency was 0.8% lower at $80,011, after falling below the $80,000 threshold earlier in the session.
U.S. stocks climbed Monday following Friday's down session. Anthropic's go-public paperwork helped lift AI-linked stocks, boosting the Nasdaq composite. Asian equities were mixed to lower amid waning appetite for risky assets as oil prices hovered around multimonth highs, limiting the scope for cryptocurrencies to rally.
Bitcoin is down 2% since last Monday, having endured some tough sessions as fears around artificial intelligence spurred investors to seek less risky assets, such as U.S. Treasurys. U.S. spot bitcoin ETFs saw net outflows of almost $140 million on Friday, according to Coinglass.
Market participants are looking to the Federal Reserve's coming interest-rate decision for direction. The CME FedWatch tool suggests a likelihood of just under 90% that policymakers will hold interest rates steady.
Ether was down 1.7% on Monday at $2,315.
Write to Joseph Wilkins at [email protected] and Dean Seal at [email protected]