Nov. 13 at 8:29 PM
Cryptocurrency-related stocks tumbled Thursday as Bitcoin slipped below the key
$100,000 level, hitting a low of
$98,100, down 3.5% for the day. The broad selloff impacted major crypto companies, with Cipher Mining, Riot Platforms, Hut 8 Corp, and IREN Limited each falling 12%, CleanSpark and MARA Holdings down 11%, Bitmine Immersion down 10%, Coinbase Global down 7%, and Strategy down 6%.
The decline in cryptocurrencies coincided with a broader pullback in technology stocks, as the Nasdaq headed for a third consecutive session of losses. Investors have been rotating capital from expensive tech and AI names into more defensive sectors like healthcare. Market sentiment weakened further after several Federal Reserve officials signaled skepticism about another rate cut in December, prompting investors to lower expectations for monetary easing. This risk-off environment hit speculative assets, including cryptocurrencies and crypto-related equities, particularly hard
$CIFR $RIOT $HUT $IREN