Moments after the cash market opened, bitcoin plunged almost $3,000 in a matter of seconds to $58,000, on no news, sending the price to the lowest level since Sept 2024. This was a strange move for bitcoin because while stocks do tend to move rapidly at cash open as that's when options restart trading (as we have noted, in recent months most investors are trading almost exclusively in options and avoiding the underlying securities completely), bitcoin trades within its own ecosystem that is open 24/7 and is - or rather should be - far less reliant on key stock market time triggers. Instead, the trigger for the drop ... (full story)