Market Wrap: Stocks Tick Downward and so Does Bitcoin, to $9,200

Bitcoin is back at $9,200 Thursday as crypto derivatives helped push its price down and equities closed lower.

Bitcoin trading around $9,211 as of 20:00 UTC, slipping 2.3% over the previous 24 hours.

BTC below 10-day and 50-day moving average, a bearish signal for market technicians.

When stocks overall trend lower, it often leads to bitcoin prices dropping, said Karl Samsen of Global Digital Assets.

As spot bitcoin headed lower Thursday, the cryptocurrency derivatives market saw its first excitement in a week as sell liquidations popped up on BitMEX. Traders who were long bitcoin saw over $20 million in BitMEX positions exited as price dropped on the spot exchanges such as Coinbase.

Traders continue to place fewer bitcoin option bets, a sign they don't expect crypto volatility to return - at least not yet, according to Vishal Shah, an options trader and founder of exchange Alpha5.

The volume on options market is much lower, and the amount of traders using the commodities exchange CME for bitcoin options have dried up in July."Honestly, it is frustrating for all of us - lower volatility and a narrower range," said Christopher Thomas of cryptocurrency broker Swissquote.

Ether, the second-largest cryptocurrency by market capitalization, was down Thursday, trading around $239 and slipping 3.6% in 24 hours as of 20:00 UTC.The total value locked in Curve is $71 million, the second-highest for a decentralized exchange, or DEX. Curve is used to quickly trade between stablecoins and has $12 million in daily trading volume, just behind Uniswap for DEXs.Peter Chan, a trader at Hong Kong-based OneBit Quant, says Curve could see increased volume due to traders moving out of USDC and into other stablecoins amid recent news that CENTRE, the consortium behind USDC, froze $100,000 worth of the token in one account at the behest of an unspecified law enforcement agency.

Digital assets on the CoinDesk 20 are mixed Thursday.

U.S. Treasury bonds all slipped Thursday Yields, which move in the opposite direction as price, were down most on the 10-year, in the red 9%.Disclosure.