Bitcoin Slumps Before the U.S. stock market opens, Marathon Digital and Riot Blockchain are both down more than 10%.
As Bitcoin Slumps and its bullish momentum starts to fade, cryptocurrency-related stocks are trading much lower in Friday’s premarket. The cryptocurrency’s price recently went down 8.6% to about $21,500.
Marathon Digital (MARA) and Riot Blockchain (RIOT) were the crypto stocks that fell the most on Friday. Both fell by more than 10%.
Shares of cryptocurrency exchange Coinbase (COIN) fell about 7% to $77.81, and shares of software company MicroStrategy (MSTR), which holds a lot of bitcoin, fell 8.2% to $297.68.
The S&P 500 was also down 0.68 percent, and the Nasdaq100 was down 0.82 percent.
Since July 17, stocks have done well, and the Nasdaq has gone up by 21 percent since then. On Friday, the market was quiet. And Coinbase’s stock has done well this month, with a 57 percent increase in value.
