Bitcoin slides toward $63,000 as Coinbase premium stays negative for a record 60 days
Quick TakeBitcoin slid below $63,000 on Friday as the semiconductor selloff dragged crypto into a broader risk-off move, with Strategys MSTR and STRC both falling alongside it.The Coinbase Bitcoin Premium Index has stayed negative for 60 straight days, a record stretch that points to soft U.S. institutional demand, according to Coinglass. Bitcoin fell below $63,000 on Friday as analysts flagged a sell-off across semiconductor stocks, pulling crypto into a wider risk-off move. The decline extends a slide that has left bitcoin (BTC) well below the highs that drew late-cycle buyers earlier this year. Bitcoin fell by more than 1.5% and failed to hold above $63,000, according to Simon-Peter Massabni, head of business development at XS.com. The pullback tracked weakness in equities. The Nasdaq 100 closed about 1.6% lower in the prior session, Massabni wrote, with the spillover reaching Strategys shares as MSTR fell 3.5%, and STRC fell 2.7%. Strategys preferred stock is also drawing particular attention. STRC, the companys largest preferred series by capital raised, closed at $85.4 against a $100 par value, a discount Massabni reads as investor caution about the funding model. Strategy has continued raising capital through common stock issuance and its other preferred series this year. The company holds roughly