Crypto-exposed stocks slump on new Bitcoin selling wave

Investing.com -- Shares linked to cryptocurrencies fell sharply on Monday as a renewed wave of Bitcoin selling rippled through related stocks, dragging down exchanges, miners and crypto-adjacent firms.

Bitcoin is down around 4.4% to $86,429, extending the slide that followed its steepest monthly decline since the 2021 crypto crash.

The downturn has come alongside a broader risk-off mood at the start of December, with investors retreating from both digital assets and equities amid macroeconomic uncertainty. U.S. indice futures are trading lower.

The pullback hit crypto-exposed stocks across the board. Crypto exchange Coinbase Global has slipped 3.5% in premarket trading, while blockchain farm operator Bitfarms tumbled 7.8%.

Major miners were also lower, with Riot Platforms down 4.5%, MARA Holdings off 4.9%, Hut 8 falling 5.3% and Bit Digital losing 3.4%.

Strategy, the large corporate buyer of Bitcoin, has declined 4.1% as the token’s decline weighed on sentiment across the sector.

The latest slump follows a volatile November, during which doubts over lofty valuations in technology and artificial intelligence shares added to investor unease. However, the last few sessions were positive

Bitcoin is down around 7.5% year-to-date, with the drop raising concerns that pressure on digital assets could persist if broader market risk aversion deepens.

In Asia, sentiment was also fragile after the People’s Bank of China warned over illegal activity involving digital currencies, triggering declines in Hong Kong-listed digital-asset firms and adding momentum to the global sell-off.

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