Crypto stocks are taking a beating on Monday and we’re diving into the latest news behind the drop.
The big news sending crypto stocks lower today is the price of Bitcoin (CCC:BTC-USD) crashing over the weekend. BTC saw a sharp drop in value late Friday that spooked investors in various crypto shares.
Bitcoin regained some of its lost ground following that drop but didn’t jump back up to its previous price. That’s worth noting as it has the price of BTC down 14.3% over the last week. The crypto is also slipping slightly over the last 24-hour period as of Monday afternoon.
Now that we know why crypto stocks are down today, let’s take a look at those getting hit the hardest below!
Crypto Stocks Falling
- MicroStrategy (NASDAQ:MSTR) stock starts us off with shares falling 6.6% as of Monday afternoon.
- Riot Blockchain (NASDAQ:RIOT) shares are slipping 2% as of this writing.
- Ebang International (NASDAQ:EBON) stock joins the list with shares dropping 4.2% this afternoon.
- Argo Blockchain (NASDAQ:ARBK) shares took a bigger blow with the stock dipping 9.5% today.
- Cipher Mining (NASDAQ:CIFR) stock is getting hit the hardest today with the company’s shares down 12.4% as of Monday afternoon.
While many of these stocks are still down today, it’s worth noting they are trending back towards their previous closing prices. In fact, Marathon Digital (NASDAQ:MARA) is up slightly this afternoon after diving lower this morning.
Traders looking for more crypto news today don’t have to go far!
InvestorPlace offers daily crypto coverage that investors need to know about. For today, that includes Shiba Inu (CCC:SHIB-USD) traders speaking out about the Bitmart hack, three cryptos to consider this month, as well as price predictions for Ethereum (CCC:ETH-USD). You can find all of that news from the links below!
More Crypto News for Monday
- SHIB Crypto Fans Speak Out About Bitmart Hack: What to Know
- 3 Cryptos to Buy in December for Gains in 2022
- Ethereum Price Predictions: Where Will the ETH Crypto Go After an Ugly Selloff?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.