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Crypto Stocks Slide in Pre-Market Trading as Bitcoin Slumps to $21.6K

Analytics

www.coindesk.com 19 August 2022 10:59, UTC
  
Reading time: ~2 m

Cryptocurrency-related stocks are trading significantly lower in Friday's pre-market session as bitcoin begins to lose bullish momentum.

Marathon Digital (MARA) and Riot Blockchain (RIOT) are leading the plunge in crypto stocks today, with both making double-digit percentage moves to the downside.

Coinbase (COIN), meanwhile, is trading at $77.81, a 6.91% decline from Thursday's close of $85.44. MicroStrategy (MSTR), which is one of the largest holders of bitcoin, has seen its stock drop to $297.68, 8.23% lower than yesterday's close.

The corrective nature of this morning's session is reflected across the wider crypto market and equities, with the Nasdaq100 and S&P500 indices trading 0.82% and 0.68% lower respectively.

Friday's market lull comes after strong performance in equities since July 17, with the Nasdaq rising by 20.88% during that time.

Coinbase also performed particularly well this month, rising by 57.15% in spite of today's drop to $77.81.


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