Cryptocurrencies have been declining as U.S. traditional markets open, underscoring a general risk-off sentiment among American investors. Bitcoin (BTC) climbed during the Asian and European trading hours from a low of $56,000 after last night's U.S. presidential debate, briefly topping $57,000 following the U.S. CPI inflation report.

However, the price quickly tumbled to $55,600 in little more than an hour following the opening of U.S. stock markets. Bitcoin has bounced a bit since, but remains lower by 2% over the past 24 hours. The broad-market crypto benchmark CoinDesk 20 Index also fell over 2% during the same period, with altcoin majors solana (SOL), avalanche (AVAX), and artificial intelligence-focused tokens near (NEAR) and render (RNDR) sliding 4%-7%.

This trend of bitcoin and other digital assets declining around the traditional U.S. market opening points to a general risk-off sentiment among American investors. Indeed, U.S. stocks started the day weak, with the S&P 500 and the tech-focused Nasdaq 100 1.6% and 1.3% lower, respectively, at 11 a.m. ET.

Source: https://www.coindesk.com/markets/2024/09/11/bitcoin-plunges-below-56k-as-stocks-sell-off-in-weak-us-trading/

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