Cryptocurrency Stocks Plunge Pre-Market as Bitcoin Tumbles

IconCryptoNewsTerminal Staff05 Jul, 2024

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Cryptocurrency Stocks Plunge Pre-Market as Bitcoin Tumbles

Cryptocurrency-related stocks listed on the New York Stock Exchange are experiencing a significant decline in the pre-market trading session. MicroStrategy (MSTR), a prominent bitcoin investor, has witnessed a substantial drop of 10%, while Bitcoin mining companies CleanSpark (CLSK) and Riot Platform (RIOT.O) have both suffered losses of 7%. Coinbase (COIN.O), a leading cryptocurrency exchange, has also faced a drop of over 6%. The decline in cryptocurrency stocks mirrors the recent downward trend in the value of Bitcoin, which has fallen below $30,000. This has affected the overall crypto market and has had a negative impact on the performance of cryptocurrency-linked stocks. Investors are closely monitoring the situation and assessing the potential long-term implications of this market volatility.

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