BUZZ-Crypto stocks drop as bitcoin slides below $90,000

Reuters
01-13

** Cryptocurrency and blockchain-related stocks fall as bitcoin falls 5% on Mon, hitting lowest level since Nov 18

** Bitcoin , world's biggest cryptocurrency, drops as low as $89,613. It is recently off ~3% at around $91,688. Smaller cryptocurrency Ether down 7% at $3,039

** Moves lower come as investors dial back bets on Fed rate cuts this year ** Shares of BTC compiler MicroStrategy down ~3% on the session

** Crypto exchange Coinbase Global down 4%, while U.S.-listed shares of blockchain farm operator Bitfarms losing >5%

** Crypto miners decline: Riot Platforms

, Mara Holdings >4%, Core Scientific 2%

**

Shares of retail trading platform Robinhood Markets dip 1%

** ProShares Bitcoin Strategy ETF and iShares Bitcoin Trust ETF both slip >3% ** In Dec, BTC soared above $108,000 amid hopes of a friendlier regulatory environment for cryptocurrencies under a Donald Trump administration

** With move on Mon, BTC off about 2% to start 2025 after 120% gain in 2024

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))

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