Crypto Stocks Slide Amid Sharp Decline in Bitcoin
Bitcoin slipped under $90,000 today, signaling renewed pressure on cryptocurrency markets after months of volatility and weakening investor confidence.
The drop erased the 2025 gains of Bitcoin and left the cryptocurrency almost 30 percent lower than its October peak above $126,000.
Bitcoin traded at $89,953 in Asian markets after breaking key support near $98,000 last week, deepening concerns around risk-sensitive assets.
Analysts blame uncertainty over future United States interest rate cuts and broader market caution for dragging sentiment across digital currencies.
Joshua Chu, co-chair of the Hong Kong Web3 Association, said institutional unwinding has intensified selling and rapidly deepened market erosion.
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Crypto-linked stocks fell broadly, with Strategy, Riot Platforms, Mara Holdings and Coinbase sliding as weakening sentiment pressured technology-related shares today.
Asian markets weakened broadly on Tuesday, within Japanese and South Korean technology sectors, which faced selling pressure driven by uncertainty.
Ethereum also struggled, losing almost 40 percent since peak above $4,955 in August and trading 1 percent lower at $2,997 Tuesday.
Matthew Dibb, CIO at Astronaut Capital, said sentiment remains weak after October leverage wipeout and warned of support near $75,000.
