Crypto stocks fall after Bitcoin hits over 4-month low
05/07/2024 09:38
** Shares of cryptocurrency and blockchain-related companies
fall in premarket trade as bitcoin hits lowest since Feb. 26
** Bitcoin BTC= down 7% at $54,271, on course for its
biggest weekly fall in more than a year
** Traders fretted over the likely dumping of tokens from
defunct Japanese exchange Mt. Gox and further selling by
leveraged players after the cryptocurrency's strong run
** Ether ETH= falls 8.5% to $2,876.7, hitting more than a
month low
** Crypto exchange Coinbase Global COIN.O falls 6.4%,
Blockchain farm operator Bitfarms Ltd BITF.O down 6.8%
** Crypto miners: Riot Platforms Inc RIOT.O , Marathon
Digital MARA.O , U.S.-listed shares of Hut 8 HUT.O , and Bit
Digital BTBT.O down 6.8%-10.8%
** Software firm and BTC buyer MicroStrategy MSTR.O
declines 8.6%, BTC mining machine maker Canaan Inc CAN.O down
4.5%
** ProShares Bitcoin Strategy ETF BITO.P falls 10%
(Reporting by Pranav Kashyap in Bengaluru)
((Pranav.Kashyap@thomsonreuters.com;))