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Benzinga
Benzinga
Business
Henry Khederian

Why Bitcoin- And Ethereum-Related Stocks Are Diving

Nasdaq Bitcoin Ethereum blockchain Bitfarms Coinbase Riot Blockchain Bitfarms Ltd Coinbase Global Inc Riot Blockchain Inc

Shares of crypto-related stocks, including Bitfarms Ltd (NASDAQ:BITF), Coinbase Global Inc (NASDAQ:COIN) and Riot Blockchain Inc (NASDAQ:RIOT), are all trading lower Monday morning amid a weekend pullback in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Traders also continue to digest Wednesday's Fed rate hike announcement. Cryptocurrencies have been seen by some investors as a speculative hedge against inflation and the Fed's plans to curb inflation could weigh on the broader cryptocurrency sector. 

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