Bitcoin plunges in the 5% range…Coinbase and mining stocks, related shares fall in unison
Minseung Kang
Summary
- It reported that Bitcoin (BTC) fell 5.4%, with weakness appearing across the market.
- It said that the stock of leading U.S. crypto exchange Coinbase and major Bitcoin mining stocks all fell together.
- It also reported that Bitcoin-linked exchange-traded products (ETFs) showed a decline of around 5%.
Bitcoin (BTC) has fallen more than 5%, and major virtual asset (cryptocurrency) related stocks are showing concurrent weakness.
On the 1st (local time), according to overseas economic breaking news channel Walter Bloomberg, Bitcoin fell 5.4%, and the U.S. virtual asset exchange Coinbase's stock also fell 5.2%.
Bitcoin mining companies also showed weakness across the board. Bitfarms fell 8.3%, Riot Platforms 5.6%, Hut 8 Mining 6.3%, and MARA Holdings 7.7%.
Bitcoin-linked exchange-traded products also underperformed. The ProShares Bitcoin Strategy ETF fell 5%, and the iShares Bitcoin Trust also fell 5%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
