United States crypto-related stocks ed losses in pre-market trading on Friday. The crash follows Bitcoin market losses, which have the prominent crypto trading at four-month lows.
Earlier today, the Bitcoin price fell 9% to trade below $54,000 in the $53,000 zone. The market has recovered slightly but has left behind a fearful sentiment and widespread market sell-offs.
Crypto-related stocks suffer loss as BTC sinks
According to CoinGecko, Bitcoin (BTC) currently trades at $55,385.76. This is a 0.3% increase within the last hour. Michael Saylor’s MicroStrategy Inc. (MSTR), which owns 226,331 Bitcoins as of June 24, 2024, has suffered the most as BTC tanks.
MSTR shares plunged 7.35% to $1,206.34 after markets opened. The stock closed at 1,302.09 on June 3, 2024.
Bitcoin miner Hut 8 (HUT) followed in MSTR losses. HUT stocks are down 6.87% and trading at $15.05. On July 3, 2024, HUT shares closed on a 3% gain, trading at 16.16 USD.
Nasdaq-traded Marathon Digital Holdings, Inc. (MARA) has lost 5.91%, with stocks worth $19.74. Another mining corporation, Riot Blockchain, Inc. (RIOT), has lost 2.93% market share, down to $9.29.
CleanSpark, Inc. (CLSK) has lost 3.65%, while Coinbase Global, Inc. (COIN) has shed 4.86%.
The dip in Bitcoin prices is tied to Mt. Gox, the Japanese defunct crypto exchange. Earlier today, Mt. Gox moved BYC worth $2.7 billion from cold storage to a new wallet.
In addition, 233,896 have been liquidated in the last 24 hours, for a total of $650.13 million. Lastly, crypto and tradFi market investors are closely waiting for June’s US jobs report, which will be released later today.
