Bitcoin Eases, Sending IREN, HOOD, MSTR, APLD and Other Crypto Stocks Downward
Bitcoin pulled back Tuesday after hitting its highest levels Monday in nearly two months -- a retrenchment that sent $IREN Ltd (IREN.US)$, $Circle (CRCL.US)$, $Strategy (MSTR.US)$ and other crypto-related stocks falling as well.
$Bitcoin (BTC.CC)$ was trading 0.3% lower at $93.499.95 as of shortly before 11 a.m. New York time, although $Ethereum (ETH.CC)$ was up 0.7% at $3,265.03, $Solana (SOL.CC)$ added 2% to $141.34 and $Ripple (XRP.CC)$ gained 1% to $2.34.
Bitcoin had risen as much as 3.7% on some markets Monday to reach $94,762.07, its best intraday level since Nov. 17.
The cryptocurrency had gained ground on several positive catalysts, including a "flight-to-safety" move that boosted both cryptos and precious metals following the U.S. military's weekend arrest of Venezuelan President Nicolas Maduro.
Several crypto-related stocks also rose Monday in concert with increases that day Bitcoin and other cryptocurrencies.
However, Tuesday's pullback for Bitcoin sent several of the same crypto stocks back downward. Decliners as of about 11 a.m. New York time included:
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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BearBear98 : Silver is above $80. in Japan 130.
And you can hold it
Nobody2 : no idea why HOOD is following btc price.
Slay2dudes : ok
老马识途 : What is the relationship between APLD and cryptocurrencies? When APLD rises, will cryptocurrencies follow suit and rise as well?