Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, edged lower as markets prepared to open on Tuesday. The price of bitcoin fell further on Monday, closing below $94,000 for the first time since November 26, according to CoinDesk data.
Bitcoin-related stocks also faced a selloff. Coinbase (COIN) dropped 3.8%, while MicroStrategy (MSTR) fell by 8.8%. Bitcoin had previously reached a high of $106,734 on December 17, based on a 4 p.m. ET close, according to Dow Jones Market Data.
Nvidia and TSMC Post Strong Performance
In contrast to the decline in cryptocurrency, Nvidia (NVDA) and its supplier, Taiwan Semiconductor Manufacturing (TSM), saw positive movement. On Monday, TSMC broke through a key resistance level, surpassing the 205.63 buy point in a cup-with-handle pattern. The stock closed in the 5% buy zone, which extends up to 215.91.
TSMC, the leading producer of advanced computer chips, plays a critical role in the tech supply chain. Its customers include major players in the semiconductor industry, such as AI-chip manufacturers Broadcom (AVGO), Nvidia, Marvell Technology (MRVL), and Advanced Micro Devices (AMD).
