Crypto Defies Equity Selloff as Dow and Sensex Fall

Equity markets in the US and India declined on August 18, driven by rising inflation concerns and geopolitical tensions. The Dow Jones Industrial Average fell 272.63 points to 53,459.78, while the S&P 500 dropped 0.52% to 7,745.06.

The Sensex in India closed down 492.70 points at 77,235.46, marking its sixth consecutive losing session. The decline was attributed to increased geopolitical friction and higher crude oil prices, which exceeded $91 per barrel.

However, the crypto market remained relatively resilient, with Bitcoin (BTC) surging 2.6% above $64,000. Ethereum (ETH) traded around $1,900-$1,910, while Solana was near $76.

The divergence between equity and crypto markets highlights a notable shift in risk sentiment, with crypto moving against the broader equity selloff rather than following it.