crypto strategy

Crypto stocks and funds close sharply lower as bitcoin briefly dips to 2-year low

Shares and funds of the crypto company closed sharply lower on Tuesday as bitcoin briefly fell to a two-year low, even as all three major U.S. stock indices ended higher.

BitcoinBTC USD,

fell to $17,484 on Tuesday, the lowest level since November 2020, after Binance, the world’s largest crypto exchange, said it had signed a letter of intent to acquire the non-US assets of rival FTX, which faces “significant liquidity”. bite.”

Lily: Bitcoin drops to two-year low after crypto exchange Binance offered to buy rival FTX

Bitcoin has lost more than 12% to around $18,374 in the past 24 hours, according to data from CoinDesk. Ether ETHUSD,

fell 17.6% in the past 24 hours. The 50 largest cryptocurrencies, except for some dollar-pegged stablecoins, are all in red on Tuesday.

Shares in the Coinbase COIN Crypto Exchange,
-10.78%
closed down 10.6% at around $50.92, according to data from the Dow Jones Market. MicroStrategy MSTR,
-20.55%
ended 21% lower at around $211.8.

Riot Blockchain Mining Company RIOT,
-7.30%
shares fell 7.4% to around $5.30, and Marathon Digital Holdings MARA,
-5.14%
shares fell 5.2% to $9.96. Another miner, Ebang International Holdings Inc. EBON,
-1.44%
shares fell 1.4% to around $0.31.

Among the crypto funds, Bitcoin Strategy ETF BITO from ProShares,
-13.39%
fell 13.2% to $11.15, while its ETF Short Bitcoin Strategy BITI,
+12.97%
rose 13.2% to $40.06. Valkyrie Bitcoin BTF ETF Strategy,
-13.47%
fell 13.5% to $6.94, and Grayscale Bitcoin Trust GBTC,
-12.40%
plunged 12.5% ​​to $10.55.

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