Bitcoin's falling below the psychological threshold of $30,000 and the price moving in a sideways and falling trend at this point increased the sales in some stocks.
Since the beginning of the year, companies that correlated with Bitcoin and had direct exposure to cryptocurrencies offered a higher return than BTC and delighted their investors.
Investors who want to be exposed to cryptocurrencies but do not want to use crypto money exchanges for various reasons and do not want to carry crypto money risk directly can obtain crypto money exposure indirectly through such stocks. As such, these stocks are directly affected by the risk appetite on the Bitcoin side.
While US stock markets were mixed today, sales on the Nasdaq side rose above 0.5%. The inability of Bitcoin to exceed $30,000 caused the deepening of the shares of Coinbase, Riot Platforms, Marathon Digital, BIT Digital, Hut 8 Mining and Bitfarms.
The change in the stocks of companies operating in the cryptocurrency mining industry with cryptocurrency exposure is as follows:
- Coinbase -7%
- Riot Platforms -3.4%
- Marathon Digital -5.4%
- Bit Digital -4%
- HUT 8 Mining -4%
- Bitfarms -6.96%
