Crypto

Bitcoin (BTC) Price Slips Below $56K as Crypto Weakness Continues; Coinbase (COIN) Falls to 7-Month Lows

Recent market turbulence has seen a notable decline in crypto-focused stocks, with industry giants like Coinbase, Marathon, and Riot Platforms experiencing losses.

Leading the downward trend is Coinbase (COIN), one of the largest crypto exchanges in the world. The stock declined by 1%, briefly falling below $160 for the first time since February. This drop was particularly significant as it took out the previous lows seen during the early August crash, which was triggered by the unwind of the Japanese yen carry trade.

Meanwhile, large-cap bitcoin miners Marathon (MARA) and Riot Platforms (RIOT) also saw their share prices plummet. Marathon was down by 4%, while Riot Platforms experienced a 2% decline.

As the market continues to navigate through uncertain times, the performance of crypto-focused stocks remains a key area of interest for investors and analysts alike.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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