BTC fell 25% from all-time high, as last week’s USD 1.5 bn Bybit cyberattack and broader macroeconomic concerns rattled crypto investors. The sell-off saw BTC drop to USD 82.22k at 6:13am UAE time this morning, down from its record high of USD 109.24k on 20 January, the day of Donald Trump’s inauguration, Bloomberg reports.

The FBI has linked the Bybit theft to North Korea, warning that stolen assets — converted into BTC and other digital tokens — are being laundered across multiple blockchains, The Guardian reports. While Bybit has assured users that client funds remain backed 1:1, the attack — now considered the largest crypto heist in history — has intensified market fears over security risks in digital assets.

BTC’s decline isn’t just about Bybit: ETF outflows, a tech stock slump, and renewed US tariffs are adding pressure. Investors had expected pro-crypto policies under the Trump administration, but enthusiasm has waned amid stagnation and rising inflation concerns, Forbes reports.

The crypto market remains under pressure, with smaller tokens like Dogecoin, Solana, and Cardano falling over 20% last week, Reuters reports on Tuesday. Analysts warn that risk-off sentiment in global markets could lead to further volatility in digital assets.

ADX

9,613

-0.3% (YTD: +2.1%)

DFM

5,361

+0.2% (YTD: +3.9%)

Nasdaq Dubai UAE20

4,428

-0.3% (YTD: +6.3%)

USD : AED CBUAE

Buy 3.67

Sell 3.67

EIBOR

4.1% o/n

4.4% 1 yr

TASI

12,112

-1.0% (YTD: +0.6%)

EGX30

30,610

-0.1% (YTD: +2.9%)

S&P 500

5,862

-1.6% (YTD: -0.3%)

FTSE 100

8,756

+0.3% (YTD: +7.1%)

Euro Stoxx 50

5,473

-1.0% (YTD: 11.8%)

Brent crude

USD 74.04

+2.1%

Natural gas (Nymex)

USD 3.94

+0.2%

Gold

USD 2,886

-0.4%

BTC

USD 84,132

-0.1% (YTD: -10.9%)

THE CLOSING BELL-

The ADX fell 0.3% yesterday on turnover of AED 1.2 bn. The index is up 2.1% YTD.

In the green: Gulf Cement (+8.2%), Rak Co. for White Cement & Construction Materials (+4.5%) and Al Khaleej Investment (+4.5%).

In the red: Space42 (-5.4%), Julphar (-3.5%) and Burjeel Holdings (-2.6%).

Over on the DFM, the index rose 0.2% on turnover of AED 613.8 mn. Meanwhile Nasdaq Dubai closed down 0.3%.

CORPORATE ACTIONS-

Mashreq approves AED 4.2 bn dividends, expands debt issuance plans: Our friends at Mashreq have approved a dividend of AED 21.10 per share, representing 211% of paid-up capital and amounting to AED 4.2 bn, for FY 2024, according to a DFM disclosure (pdf).

Parkin proposed a dividend payout of AED 0.093 per share, totaling AED 280.9 mn, for the second half of 2024. The proposal is pending shareholder approval at its upcoming annual general assembly meeting, the company said in a DFM disclosure (pdf).

Abu Dhabi National Ins. Company (Adnic) shareholders approved a dividend payout of AED 0.45 per share, totaling AED 256.5 mn, for FY 2024, according to an ADX disclosure (pdf).

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