Bitcoin Miners Lead Crypto Stock Losses Amid Wider Market Dip—With BTC Falling

Bitcoin miners and other crypto stocks faced significant declines amid a broader downturn in crypto markets and risk assets. Major miners like Bitdeer Technologies and Bitfarms saw drops of over 20% and 17%, respectively, while Cipher Mining fell 13%. MARA Holdings, which holds substantial Bitcoin reserves, was down over 10%. This slump coincided with Bitcoin’s price dropping below $100,000 for the third time in November, recently trading at $99,611, marking a 2% decrease. Ethereum and Solana also experienced significant declines of around 7%. The market turbulence was exacerbated by macroeconomic uncertainties, including a lack of clarity on the Consumer Price Index due to a bureaucratic shutdown. Despite these declines affecting various sectors, traditional indexes like the Nasdaq and S&P 500 held up comparatively better. The current economic climate continues to pressure the crypto market, diminishing investor confidence.

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