Bitcoin sinks to $115,000 after hitting its newest record, crypto stocks fall
Crypto tumbled to begin the week as heightened macro concerns triggered more than $500 million in forced selling of long positions.
The price of bitcoin was last lower by 2% at $115,255.70, after touching a new all-time high last week – its fourth one this year – at $124,496. At one point, it fell as low as $114,706. Ether slid 4% to $4,283.15 after coming within spitting distance of its roughly $4,800 record last week.
Crypto related stocks were under pressure premarket, led by ether treasury stocks. Bitmine Immersion was down 6% and SharpLink Gaming fell 3%. Crypto exchange Bullish, which made its public trading debut last week, was also lower by 3%.
— Tanaya Macheel
Novo Nordisk rises on U.S. Wegovy approval to treat ‘MASH’
Shares of Novo Nordisk rose more than 4% in the premarket after the Food and Drug Administration approved the use of the company’s Wegovy drug to treat metabolic dysfunction-associated steatohepatitis, or “MASH,” in adults with moderate-to-advanced liver fibrosis.
“MASH represents a significant health burden, with one in three people with overweight or obesity worldwide affected. In the US alone, around 22 million people are estimated to live with MASH. With the approval of Wegovy for MASH, we provide a new treatment to people living with MASH that not only halts the disease activity but helps reverse the damage caused to the liver,” Novo Nordisk chief science officer Holst Lange said in a statement.
NVO 5-day chart
Asia-Pacific markets close mostly higher as investors await U.S.-Ukraine talks
U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House in Washington, D.C., U.S., Feb. 28, 2025.
Brian Snyder | Reuters
Asia-Pacific markets mostly rose Monday as investors awaited talks between U.S. President Donald Trump and his Ukrainian counterpart, Volodymyr Zelenskyy.
The U.S.-Russia summit on ending the conflict between Kyiv and Moscow concluded without a ceasefire deal on Friday.
Japan’s Nikkei 225 benchmark climbed 0.77% to end the day at an all-time high of 43,714.31, with gains led by the consumer cyclicals, healthcare and industrials sectors.
The best-performing stocks were Suzuki Motor Corp, which surged 10.2%, Isetan Mitsukoshi Holdings, which advanced 7.79% and CyberAgent Inc, which added 7.67%, according to LSEG data.
Meanwhile, Japan’s broader Topix index closed 0.43% higher at 3,120.96.
In South Korea, the Kospi index reversed course from gains in the previous two sessions and ended the day 1.5% lower at 3,177.28, while the small-cap Kosdaq declined by 2.11% 798.05.
Mainland China’s CSI 300 rose 0.88% to end the day at 4,239.41, its highest level since October 2024, while Hong Kong’s Hang Seng Index fell 0.37% to 25,176.85.
Meanwhile, Taiwan’s Taiex index added 0.61% to end the day at 24,482.52, topping its previous record close in July 2024.
Over in India, the benchmark Nifty 50 advanced 1.21%, while the BSE Sensex index added 1.06% as of 1:40 p.m. Indian Standard Time (4:10 a.m. ET).
The moves come as the country is set to slash its goods and services tax on small petrol and diesel cars to 18% from 28%, Reuters reported, citing sources familiar with the matter.
Australia’s S&P/ASX 200 pared earlier gains to end the day 0.23% higher at 8,959.39, after briefly hitting an intra-day high.
— Amala Balakrishner
Stocks come off winning week
The three major indexes are coming off back-to-back winning weeks. Here’s how the averages performed last week:
The Dow gained 1.7%The S&P 500 added 0.9%The Nasdaq Composite rose 0.8%
— Alex Harring
Stock futures are near flat
Futures tied to the Dow, S&P 500 and Nasdaq 100 were all little changed shortly after 6 p.m. ET.
— Alex Harring
