Crypto stocks plunge after Bitcoin hits over 5-mth lows on US recession fears
05/08/2024 09:56
** Shares of cryptocurrency and blockchain-related companies
plunge in U.S. premarket trade, tracking declines in Bitcoin
** Bitcoin BTC= , world's biggest cryptocurrency, down
10.4% at $52,960 - lowest level since Feb. 26
** Also set for worst day since November 2022
** Worries over a possible U.S. recession rattle global
markets, triggering heavy sell-offs and a rush to safe-haven
assets
** Ether ETH= , second-biggest crypto token, falls 15.3% to
$2,330
** Crypto exchange Coinbase Global COIN.O falls 9%, while
U.S.-listed shares of Blockchain farm operator Bitfarms Ltd
BITF.O down 8.7%
** 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 9%-13%
** Software firm and BTC buyer MicroStrategy MSTR.O
plunges 13.5%
** ProShares Bitcoin Strategy ETF BITO.P and iShares
Bitcoin ETF IBIT.O fall over 15% each
** BTC up over 20% YTD
(Reporting by Purvi Agarwal in Bengaluru)
((Purvi.Agarwal@thomsonreuters.com))