Bitcoin and altcoins correct as crypto stocks continue to plunge

Bitcoin and altcoins correct as crypto stocks continue to plunge

Cryptocurrency prices are in the red, breaking out of a recent bull run. While Coinbase and MicroStrategy stocks continue to fall.

Bitcoin has dropped 3% over the past 24 hours to trade below $20,800 as of 9:30 p.m. KST, although it is trending up again, according to TradingView data.

Ethereum drops 4.4% to $1,525 and Binance’s BNB down 4.2%. Dog-themed memecoins have surged in price over the past few days. However, dogecoin and shiba inu are all down from recent gains, down 7.6% and 10% respectively.

bitcoin price chart

Crypto stocks continue to weaken

Crypto-related stocks continue to trade lower. At press time, Coinbase stock fell below $50, or 2.4%, according to Nasdaq data.

Silvergate is down 2.6% to less than $12, Block is down 1.7% to around $70 and MicroStrategy traded at $217, down 1.2%.

Many are expecting the market to make progress as it looks to a slight landing that begins to weaken following the Fed’s hawkish comments, despite lower-than-expected December CPI figures – reflecting inflationary pressures. reduction.

Noelle Acheson, Genesis’ former head of market research, noted, “it doesn’t look like bad news anymore.”

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img