Crypto-linked stocks fall in premarket trading as Bitcoin hovers near $77,000.

Bitcoin traded largely flat early Monday as volatility climbed and crypto-linked equities stayed under pressure ahead of the U.S. market open.

Crypto-related U.S. stocks slid in pre-market trading as investors continued to assess President Donald Trump’s Friday nomination of Kevin Warsh as the next Federal Reserve chair—a decision that helped trigger a sharp selloff across digital assets over the weekend.

Strategy (MSTR), the largest publicly listed corporate holder of bitcoin, fell more than 6%, while Galaxy Digital (GLXY) dropped over 7%. Bitcoin mining and AI-adjacent names also weakened, with IREN (IREN) and Cipher Mining (CIFR) each down around 4%. Crypto exchange Coinbase (COIN) was lower by roughly 4% as well.

Market volatility continued to intensify. The Cboe Volatility Index (VIX) rose about 10% on the day, while the Volmex implied volatility index surged over the past week, climbing from 40 to 50. Implied volatility measures expectations for future price swings, with higher levels signaling increased uncertainty and the potential for larger moves.

Bitcoin was up about 1% on the day, trading near $77,000 after briefly dipping to around $74,500 on Saturday. Broader risk assets remained under pressure. Gold slid 4% to roughly $4,700 an ounce, silver fell a similar amount to $82 an ounce, and oil prices declined sharply. West Texas Intermediate crude dropped 5% to $62 a barrel.

U.S. equity index futures showed modest signs of stabilization, with the Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, down less than 1% in pre-market trading.

Meanwhile, the U.S. dollar eased slightly, with the DXY index pulling back to 97. CoinDesk Research previously highlighted a clear inverse relationship between bitcoin and the dollar last week, a dynamic that appeared to be re-emerging as bitcoin edged higher alongside a softer greenback.

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