Crypto-related stocks sag as bitcoin hits over 2-month low

Ebang International Holdings

01/05/2024 11:33

** Cryptocurrency and blockchain-related companies drop
premarket as bitcoin slides >5% to lowest since late Feb
    ** Bitcoin fell almost 16% in Apr, its worst monthly
performance since late 2022, as investors dumped
cryptocurrencies ahead of Fed's verdict on interest rates due
later on Weds
    ** Bitcoin  BTC= , world's biggest cryptocurrency, recently
down 4.4% at $57,222, while Ether  ETH=  down 2.6% at $2,866.60
        ** Crypto exchange Coinbase Global  COIN.O  and
blockchain farm operator Bitfarms  BITF.O  both off ~3% before
the bell
    ** Crypto miners decline: Riot Platforms  RIOT.O  ~4%, 
Marathon Digital  MARA.O  ~4%, Hut 8 Mining  HUT.O  ~5%, Bit
Digital  BTBT.O  ~5%
        ** Shares of software firm, notable BTC buyer
MicroStrategy  MSTR.O  down 4%
  
    ** ProShares Bitcoin Strategy ETF  BITO.P  loses ~3%
premarket
    ** Including Weds move, BTC up ~35% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))