Bitcoin traded lower Tuesday on light volumes as market watchers kept their eyes on a global stock market selloff.
In early Tuesday trading, a single bitcoin BTCUSD, -0.42% on the Kraken crypto exchange was changing hands at $6,415.43, down 0.6% since 5 p.m. Eastern Time Monday.
However, for broad market watchers, cryptocurrencies have taken a back seat as an equity selloff—fueled by concerns in China and Italy — led to a steeply lower open for Wall Street, with the Dow Jones Industrial Average DJIA, -1.97% dropping more than 400 points before trimming its decline.
