Crypto Stocks Tumble in Pre-Market Trading as Bitcoin Dives to $112K
Crypto-related company stocks tumbled in pre-market trading on Monday as bitcoin (BTC) and several altcoins succumbed to unrelenting sell pressure, spurring $1.6 billion in liquidations across derivatives exchanges.
Coinbase (COIN) is down by 3% in pre-market trading while Strategy (MSTR) slid by 2.3%. Mara Holdings (MARA) and Metaplanet (TYO: 3350) also lost more than 3%.
Crypto treasury companies had a rougher morning; with solana treasury company Forward Industries (FORD) selling off by as much as 5% in pre-market trading while ETH-focused BitMine (BMNR) lost 3.9%.
The equities sell-off comes after a grueling weekly open for crypto markets during the Asia morning; BTC and ether (ETH) are down 2.3% and 6.4% respectively while several altcoins were dealt double-digit moves to the downside.
The move was a culmination of several tokens losing momentum after gaining ground last week alongside the Federal Reserve’s decision to cut interest rates by 25 basis points.
The reversal led to widespread liquidations across crypto derivatives exchanges, with $500 million worth of ETH positions being unwound in the past 24 hours, according to CoinGlass.
Silver Breaks Into Record Territory—Schiff Says ‘The Silver Train Can’t Be Stopped’
Silver’s surge to record highs is flashing a warning on inflation, monetary policy, and hard-asset demand, as rising...
Robert Kiyosaki Warns Global Crash Resets Valuations as Bitcoin Stands Outside Weakening Systems
Robert Kiyosaki urges investors to prepare for long-term economic decline by using market crashes to accumulate cash-flowing assets...
Strategy Holds Nasdaq-100 Slot—Saylor Says ‘Bitcoin Hoarding Will Continue’
Strategy’s firm hold in the Nasdaq-100 is reinforcing confidence in corporate bitcoin treasury strategies, signaling growing institutional acceptance...