Crypto-related stocks drop as bitcoin slumps to two-month low
BUZZ-Crypto-related stocks drop as bitcoin slumps to two-month low ** Cryptocurrency and blockchain-related stocks drop on Tues, as bitcoin BTC= extends losing streak to three days
** Bitcoin, world's largest cryptocurrency, falls 5.9% to $67,185.38, lowest since Apr 5; Ether ETH= down 4.7% to $1,909.38, a more than three-month low
** Crypto exchange Coinbase Global COIN.O down >5% on the session
** BTC hoarder Strategy MSTR.O, which on Mon disclosed selling $2.5 mln worth of bitcoin, down 9.6% to lowest since mid-Apr
** Retail trading platform Robinhood Markets HOOD.O down ~4%
** Crypto miners Mara Holdings MARA.O and Bit Digital BTBT.O off 2% and 5%, respectively, while Riot Platforms RIOT.O down fractionally
** Ether-linked stocks sag: Bitmine Immersion Technologies BMNR.A ~7%, Sharplink Gaming SBET.O ~6%
** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O both off >6%, while iShares Ethereum Trust ETF ETHA.O down 5%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com ; 1-646-279-6380))