Crypto stocks drop as bitcoin slides below $90,000
2025-01-13
Category: None

** Cryptocurrency and blockchain-related stocks fall as bitcoin falls 5% on Mon, hitting lowest level since Nov 18
** Bitcoin BTCUSD, world's biggest cryptocurrency, drops as low as $89,613. It is recently off ~3% at around $91,688. Smaller cryptocurrency Ether (ETH=) down 7% at $3,039
** Moves lower come as investors dial back bets on Fed rate cuts this year 
** Shares of BTC compiler MicroStrategy MSTR down ~3% on the session
    ** Crypto exchange Coinbase Global COIN down 4%, while U.S.-listed shares of blockchain farm operator Bitfarms BITF losing >5%
    ** Crypto miners decline: Riot Platforms RIOT           ~5%    , Mara Holdings MARA >4%, Core Scientific CORZ 2%
    **     Shares of retail trading platform Robinhood Markets HOOD dip 1%  
** ProShares Bitcoin Strategy ETF BITO and iShares Bitcoin Trust ETF IBIT both slip >3%
** In Dec, BTC soared above $108,000 amid hopes of a friendlier regulatory environment for cryptocurrencies under a Donald Trump administration
    ** With move on Mon, BTC off about 2% to start 2025 after 120% gain in 2024  