Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Microstrategy, other bitcoin-linked stocks slip as crypto market cools off

admin by admin
December 20, 2024
in Stock
0
Microstrategy, other bitcoin-linked stocks slip as crypto market cools off
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

Investing.com — Shares of companies with significant cryptocurrency exposure, including Microstrategy, Inc. (NASDAQ: NASDAQ:MSTR), Marathon Digital Holdings (NASDAQ: NASDAQ:MARA), Riot Platforms (NASDAQ: NASDAQ:RIOT), Coinbase (NASDAQ: NASDAQ:COIN), Robinhood (NASDAQ: NASDAQ:HOOD), Bit Digital (NASDAQ: BTBT), and CleanSpark (NASDAQ: NASDAQ:CLSK), saw a downturn in Thursday’s trading session. Microstrategy led the declines with a 5.5% drop, as the broader sector reacted to the Federal Reserve’s recent signals of interest rate caution and a significant pullback in Bitcoin‘s value from its record highs.

The crypto market’s downturn, with Bitcoin falling over 10% from its peak earlier this week, has created a ripple effect, impacting stocks associated with digital currencies. The reduced likelihood of a looser US monetary policy has diminished speculative interest, causing a notable slide in crypto-related equities. Bitcoin’s slide to as low as $92,149 on Friday morning, after reaching just above $108,000, has been particularly impactful on smaller tokens like Ether and Dogecoin, which experienced even steeper declines.

This shift in investor sentiment was highlighted by a record outflow of $680 million from a group of US exchange-traded funds investing directly in Bitcoin, ending a 15-day streak of continuous inflows. The outflow represents the largest single-day loss for these funds, as per Bloomberg’s compiled data, signaling a broader market apprehension towards speculative crypto assets.

The sell-off in these stocks reflects heightened investor caution as they recalibrate their expectations in light of the Federal Reserve’s stance and the volatile movements in the cryptocurrency market. The broader implications for companies like Microstrategy and others in the sector are yet to be fully realized as market participants assess the potential for further interest rate hikes and their impact on speculative investments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Previous Post

Canadian wholesale trade dips, retail sales hold steady in November

Next Post

Morgan Stanley upgrades Brinker International on Chili turnaround, improving sales

admin

admin

Next Post
Morgan Stanley upgrades Brinker International on Chili turnaround, improving sales

Morgan Stanley upgrades Brinker International on Chili turnaround, improving sales

Trending News

European economy outlook for 2025: Bank of America

European economy outlook for 2025: Bank of America

November 30, 2024
Major crypto backers fuel Trump’s 2024 campaign as donations hit $7.5M

Major crypto backers fuel Trump’s 2024 campaign as donations hit $7.5M

October 16, 2024
Google Launches Cross-Border Payments Platform GCUL

Google Launches Cross-Border Payments Platform GCUL

August 27, 2025
Subscribe to Insightful Word


    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025
    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    August 28, 2025
    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    August 28, 2025

    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025

    Latest News

    • Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in
    • SentinelOne stock price forecast ahead of earnings: buy or sell?
    • Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.