Bitcoin price slips below $69,000, falling to $68,442.24. This decline represents a drop of over 3% from an overnight high above $71,000. Alongside Bitcoin, altcoins such as Ether (ETH), XRP, Solana (SOL), and Cardano (ADA) also experienced declines, plunging between 4% and 5%. The market movements are reflected in other sectors as well. Oil prices increased by around 4%, while the Nasdaq fell by 1.4%. Additionally, the US 10-year Treasury yield rose by 7 basis points to 4.40%, and German Bund yields increased by 10.5 basis points to 3.06%.
The major technology stocks, known as the ‘Magnificent Seven’, have experienced significant declines amid recent market turbulence. NVIDIA’s stock dropped by 18%, while Meta saw a decrease of 30%. Amazon’s shares fell by 20%, and Alphabet’s stock declined by 19%. Additionally, Microsoft experienced a substantial 34% decrease, Tesla’s stocks reduced by 25%, and Apple reported a 14% drop.
In the realm of cryptocurrencies, related stocks such as Coinbase, Circle, and MSTR also faced downturns, each falling by 3% to 4%. This downturn in both tech and crypto stocks reflects the market’s broader volatility.
Several publicly traded Bitcoin mining companies posted losses in the session, with Hut 8’s shares declining 8.6%. IREN and Riot Platforms (RIOT) each fell by more than 7% amid the market sell-off. TeraWulf (WULF) and HIVE Digital (HIVE) also recorded declines in their share prices, contributing to downward pressure within the mining cohort. These moves were part of a wider set of declines among firms associated with cryptocurrency extraction and services.
WYFI fell 14% after fourth-quarter results showed a net loss of $1.5 million and a full-year loss of $24.7 million. BTBT declined by around 8% during the session. MARA Holdings rose by 8.7%.
Several publicly traded Bitcoin mining companies posted losses in the session, with Hut 8’s shares declining 8.6%. IREN and Riot Platforms (RIOT) each fell by more than 7%. TeraWulf (WULF) and HIVE Digital (HIVE) also recorded declines in their share prices. These moves contributed to downward pressure within the mining cohort.
WYFI fell 14% after fourth-quarter results showed a net loss of $1.5 million and a full-year loss of $24.7 million. BTBT declined by around 8% during the session. MARA Holdings rose by 8.7%. These changes occurred during the same trading session.
Bitcoin’s price moved below $69,000, reflecting a retreat from recent highs as cryptocurrency tokens and related equities faced broad selling pressure across the market. The move coincided with declines in major technology and crypto-linked stocks, a rebound in oil and rising government bond yields, producing a risk-off environment driven by macroeconomic indicators and geopolitical tensions that weighed on investor sentiment across asset classes.
