Back Below $90K as Crypto Correction Ranks Among Worst
The big news Tuesday was crypto not just posting gains, but also rising even as U.S. stocks sold off. That outperformance has been rare for what seems like months, with bitcoin and other cryptocurrencies watching from the sidelines as major stock market averages made new record highs on a regular basis.
Sadly for the bulls, though, normality has returned just 24 hours later, with bitcoin tumbling 4% back below $90,000 even as U.S. stocks manage gains. Ethereum’s ether slid 6.5% to below $3,000.
Crypto-related equities broadly mirrored the price action. Bitcoin treasury firm Strategy (MSTR) fell over 8% to more than a one-year low, while stablecoin issuer Circle (CRCL), ether treasury firm BitMine (BMNR), miners Bitfarms…
