Cryptocurrency Carnage: Bitcoin’s Plunge Sends Equities into a Tizzy

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What to know:

  • The cryptocurrency market’s extended sell-off has spilled over into equity markets, with crypto-adjacent companies experiencing losses in pre-market trading.
  • Strategy (MSTR) and Coinbase (COIN) both plummeted over 5% in pre-market trading.

As the cryptocurrency market continues its downward spiral, the contagion has spread to equity markets, with crypto-adjacent companies experiencing losses in pre-market trading on Monday.

Strategy (MSTR) and Coinbase (COIN) both tumbled over 5%, while bitcoin mining firms MARA Holdings (MARA), Riot Platforms (RIOT), Core Scientific (CORZ) and CleanSpark (CLSK) all traded lower by at least 2.5%.

Coinbase’s slide to under $205 only compounded the crypto exchange’s woes, as it failed to make the cut for inclusion on the S&P 500 in the index’s latest rebalancing.

Bitcoin fell as low as $80,226, with the leading altcoins also registering significant declines as the threat of tariffs being imposed by President Trump have weighed on risk assets like crypto and equities.

This bearish atmosphere has culminated in the crypto fear and greed index falling to a multiyear low of 17, indicating “extreme fear.”

😱 “Oh, the humanity!” exclaims the cryptocurrency market, as it watches its value plummet like a lead balloon. 🎈 Meanwhile, equity markets are left scrambling to pick up the pieces, wondering if they should invest in a sturdy umbrella to shield themselves from the crypto-induced downpour. ☂️

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2025-03-10 15:30