Crypto Stocks Retreat on Bitcoin’s Dip as Macroeconomic Concerns Linger
Cryptocurrency mining equities are among laggards in Friday’s trading session.Read MoreCoinDesk
Cryptocurrency-related stocks are trading significantly lower in Friday’s premarket session as bitcoin begins to lose bullish momentum. The cryptocurrency was recently down 8.6% to about $21,500.
Marathon Digital (MARA) and Riot Blockchain (RIOT) were leading the plunge in crypto stocks on Friday, with both sliding by double-digit percentages.
Shares of crypto exchange Coinbase (COIN) were down about 7% to $77.81, and shares of MicroStrategy (MSTR), a software company that holds a large amount of bitcoin, were down 8.2% to $297.68.
Meanwhile, the Nasdaq100 was down 0.82%, and the S&P 500 was 0.68% lower.
Friday’s market lull comes after strong performance in equities since July 17, with the Nasdaq rising by 21% since that date. And Coinbase’s stock has performed well this month, as the shares are up 57% in August.
Read more about
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Recent Posts
Cantor Equity Partners 1 Gains 25% on $3.5B Bitcoin Deal With Adam Back
Cantor Equity Partners I (CEPO) is changing hands just shy of $15 in morning U.S.…
Bitcoin Retail Demand Rebounds – $0–$10K Transfer Volume Turns Positive
Bitcoin volatility is back on the rise after a dramatic week of price action. On…
The Smarter Web Company Expands Its Bitcoin Treasury to 1,600 BTC
Bitcoin Magazine The Smarter Web Company Expands Its Bitcoin Treasury to 1,600 BTC Today, The…
BTCS Joins Russell Microcap Index as Ether Treasury Firms Continue to Post Big Gains
Nasdaq-listed Blockchain Technology Consensus Solutions (BTCS) is joining the Russell Microcap Index, giving the Ethereum-focused…
Bitcoin Security Startup Glok to Address Rising Kidnapping Threats
Bitcoin Magazine Bitcoin Security Startup Glok to Address Rising Kidnapping Threats With Bitcoin’s price exceeding…
Bitcoin Is a Commodity: Why Congress Must Fix Bitcoin Taxes
Bitcoin Magazine Bitcoin Is a Commodity: Why Congress Must Fix Bitcoin Taxes I grew up…