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Benzinga
Benzinga
Business
Adam Eckert

Why Bitcoin- And Ethereum-Related Stocks Are Falling

Bitcoin Marathon Digital Ethereum Coinbase Coinbase Global Riot Blockchain blockchain Cryptocurrency Crypto

Cryptocurrency-related stocks including Coinbase Global Inc (NASDAQ:COIN), Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Blockchain Inc (NASDAQ:RIOT) are trading lower Thursday amid a sharp decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin's move lower seems to be the result of a technical breakdown around the $20,000 level. The crypto decline accelerated after Bitcoin fell through support. The crypto market also appears to be falling amid a selloff in broader risk assets as traditional markets continue to trend lower.

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