Crypto-Adjacent Companies Experience Losses as Bitcoin Drops to $80K
Cryptocurrency markets experienced significant sell-offs, impacting equity markets and leading to losses for crypto-related companies in pre-market trading on Monday.
- MSTR and COIN both declined over 5%
- Bitcoin mining firms MARA, RIOT, CORZ, and CLSK dropped at least 2.5%
- COIN's stock fell below $205 after missing inclusion in the S&P 500
- Bitcoin reached a low of $80,226, with major altcoins also declining
- Concerns over potential tariffs from President Trump contributed to risk asset declines
- The crypto fear and greed index fell to a multiyear low of 17, indicating extreme fear