Following Thursday's post-CPI risk-on moves, the cryptocurrency market experienced a modest pullback of around 1% for bitcoin and 3% for ether. However, in early European trading hours, the prices of both saw slight gains — with bitcoin now holding above $66,200 and ether above $3,000.
In contrast to the cryptocurrency market cap, which posted a modest gain of 0.3% in the past 24 hours, global equities experienced a pull-back. European shares retreated on Friday, following a decline in Asian stocks and U.S. futures.
Major European and UK equity indices were red in morning trading. In London, the FTSE 100 posted a 31.66-point decrease to 8,406.99 — a fall of 0.38%. The regional Stoxx 600 index traded down 0.27% in Europe to 522.23. In Tokyo, the Nikkei 225 declined by 0.3% to 38,787.38, while Australia's S&P/ASX 200 fell by 0.9% to 7,814.40. South Korea's Kospi also dropped by 1% to 2,724.62.
U.S. stock futures were down, with the Nasdaq Composite decreasing by 0.26% and the NYSE Composite decreasing by 0.33% in pre-market trading.
China uncertainties wobble markets
ActivTrades analyst Pierre Veyret attributed the global stock downturn to signs of macroeconomic stress in China.