Dragged down by sharp declines in software and private equity sectors, both the stock market and cryptocurrencies fell, and bitcoin's rebound momentum faded.
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Jinse Finance reported that during the US trading session on Monday, Bitcoin fell back to $65,400 after failing to hold onto a slight overnight rebound. The US stock market experienced a significant decline, with the software sector—which has recently been highly correlated with the crypto market—falling another 5%, and private equity stocks also continuing to drop. LMAX strategists stated that as investors withdraw from high-risk assets, Bitcoin is behaving more like a "high-beta risk asset" rather than "digital gold."
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