Overview

Bitcoin has dropped to $80,226, leading to notable declines in pre-market trading for cryptocurrency-related equities. Major companies like MicroStrategy (MSTR) and Coinbase (COIN) reported declines exceeding 5%.

Key Developments:

• The extended sell-off in cryptocurrency markets has negatively impacted equities, particularly for crypto-adjacent companies.
• Bitcoin mining firms such as MARA Holdings (MARA) and Riot Platforms (RIOT) experienced losses of at least 2.5%.

Additional Insights:

As Bitcoin struggles and altcoins follow suit, the current atmosphere reflects a significant shift in market sentiment, with the crypto fear and greed index hitting an alarming low of 17, indicating a state of severe caution among investors.

For more detailed information, check out the latest updates on CoinDesk.