Crypto Rout Broadens As Risk Pullback Deepens Across Markets

Benzinga

Bitcoin fell more than 6% to around $85,468, its biggest one-day drop since March, extending a multimonth slide of over 30% from its October peak. The selloff hit major cryptocurrencies and crypto-linked stocks, while Strategy raised $1.44 billion to cover future payments and disclosed new BTC purchases. Shares of Coinbase, Circle, BitMine, and Forward Industries all declined as risk appetite weakened.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Bitcoin fell more than 6% on Monday and traded near $85,468 as of 4 p.m. Eastern Time in New

00:10York on Monday, according to The Wall Street Journal. The drop marked its sharpest single-day

00:15decline since March and extended a months-long slide that has pushed the token more than 30%

00:20below its early October peak above $126,000. The decline spread across major cryptocurrencies

00:26and crypto-linked stocks as investors pulled back from risk. Strategy raised $1.44 billion

00:32through a stock sale to cover future dividend and debt interest payments and disclosed it

00:37bought 130 Bitcoin in the past two weeks. Coinbase Global fell 4.8% and Circle Internet Group dropped

00:445% as crypto-linked stocks declined. Other crypto treasury firms also slid, with Bitmine Immersion

00:51Technologies down 13% and Forward Industries down 12%.

00:55For all things money, visit Benzinga.com.

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