Crypto stocks experienced a significant decline, dropping between 11% and 14% this week, as macroeconomic fears and uncertainties surrounding a potential U.S. government shutdown weighed heavily on the market. This downturn follows the aftermath of a massive $19 billion liquidation event in October, which has left the market reeling.
Major players such as Coinbase, Block Inc., and Robinhood saw their shares reverse recent gains, highlighting the fragile sentiment among investors. Bitcoin also faced a sharp correction, falling below $100,000, marking a 20% drop from its all-time high, as the industry grapples with ongoing vulnerabilities.
Crypto Stocks Plunge 11-14% Amid Economic Concerns and Liquidation Fallout
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