Coinbase and MicroStrategy Plunge 5% Amid Crypto Carnage

Cryptocurrency stocks have plunged in lockstep with Bitcoin

Major cryptocurrency-native stocks have tumbled in tandem with Bitcoin during an all-out market carnage.

MicroStrategy (MSTR) and Coinbase (COIN) both plunged by more than 5% during the Friday trading session.

The shares of major cryptocurrency mining companies, including Bitfarms (BITF), Riot Platforms (RIOT), and other companies have also tumbled.

Earlier today, the price of Bitcoin collapsed to an intraday low of $92,245, according to CoinGecko data.

The flagship cryptocurrency is currently changing hands at $97,022 after paring some losses.

As reported by U.Today, the cryptocurrency market took a severe beating after the Fed indicated that it would scale back easing in 2025.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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Coinbase and MicroStrategy Plunge 5% Amid Crypto Carnage

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