Stock Track | Bitfarms Ltd. Plummets 5.24% as Crypto Stocks Fall Amid Bitcoin's Struggle

Stock Track

Dec 09, 2024

Bitfarms Ltd. (BITF), a leading crypto mining company, saw its stock plummet 5.24% in Monday's trading session. This decline was part of a broader sell-off in crypto-related stocks, fueled by Bitcoin's struggle to maintain its recent rally above the $100,000 mark.

The world's largest cryptocurrency, Bitcoin, slid 1.3% to $98,585 on Monday, trading more than 5% off its previous record high of $103,853 reached last week. Despite breaking through the six-figure mark for the first time on December 4th, after President-elect Donald Trump nominated crypto advocate Paul Atkins to lead the Securities and Exchange Commission, Bitcoin has struggled to sustain its momentum.

The sell-off in crypto stocks was widespread, with major players like Riot Platforms (RIOT) dropping 10%, Coinbase (COIN) falling 7%, Canaan (CAN) and MARA Holdings (MARA) declining 6%, CleanSpark (CLSK) down 5%, and MicroStrategy (MSTR) dropping 4%. These declines suggest that investors are concerned about the sustainability of the recent crypto rally and the potential impact on mining companies like Bitfarms Ltd.

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(BITF), a leading crypto mining company, saw its stock plummet 5.24% in Monday's trading session. This decline was part of a broader sell-off in crypto-related stocks, fueled by Bitcoin's struggle to maintain its recent rally above the $100,000 mark.</p>\n\n<p>The world's largest cryptocurrency, Bitcoin, slid 1.3% to $98,585 on Monday, trading more than 5% off its previous record high of $103,853 reached last week. Despite breaking through the six-figure mark for the first time on December 4th, after President-elect Donald Trump nominated crypto advocate Paul Atkins to lead the Securities and Exchange Commission, Bitcoin has struggled to sustain its momentum.</p>\n\n<p>The sell-off in crypto stocks was widespread, with major players like Riot Platforms (RIOT) dropping 10%, Coinbase (COIN) falling 7%, Canaan (CAN) and MARA Holdings (MARA) declining 6%, CleanSpark (CLSK) down 5%, and MicroStrategy (MSTR) dropping 4%. 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Plummets 5.24% as Crypto Stocks Fall Amid Bitcoin's Struggle\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-12-09 23:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Bitfarms Ltd. (BITF), a leading crypto mining company, saw its stock plummet 5.24% in Monday's trading session. This decline was part of a broader sell-off in crypto-related stocks, fueled by Bitcoin's struggle to maintain its recent rally above the $100,000 mark.</p>\n\n<p>The world's largest cryptocurrency, Bitcoin, slid 1.3% to $98,585 on Monday, trading more than 5% off its previous record high of $103,853 reached last week. Despite breaking through the six-figure mark for the first time on December 4th, after President-elect Donald Trump nominated crypto advocate Paul Atkins to lead the Securities and Exchange Commission, Bitcoin has struggled to sustain its momentum.</p>\n\n<p>The sell-off in crypto stocks was widespread, with major players like Riot Platforms (RIOT) dropping 10%, Coinbase (COIN) falling 7%, Canaan (CAN) and MARA Holdings (MARA) declining 6%, CleanSpark (CLSK) down 5%, and MicroStrategy (MSTR) dropping 4%. 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