Bitcoin slides 2.5% as Nasdaq futures drag crypto lower

The crypto market fell Tuesday, with bitcoin trading at $62,300 – down 2.5% since midnight UTC. Ether lost 4%, dropping to $1,650. The selloff followed Monday's tech-stock downturn, and Nasdaq 100 futures pointed to another rough session, having shed 2.5% overnight.

Tech stocks face profit-taking and the risk of higher bond yields, said Patrick Munnelly, market strategy partner at TickMill. The Dollar Index climbed to 101.15, its highest since May 2025, adding pressure on risk assets.

Altcoins fared worse. Tokens like ethena (ENA) and hype (HYPE) lost 5–6%. Across the market, $717 million in liquidations exaggerated the downswings, wiping out leveraged longs.

May trading volumes across exchanges fell 3.45% to $4.41 trillion, the lowest since September 2024. One segment stood out: RWA perpetual futures volumes rose 10.4%, hitting a new all-time high.