MicroStrategy (MSTR), which holds nearly 175,000 BTC in its treasury, is down 6%, while crypto exchange Coinbase (COIN) is down over 5%.
Nasdaq-listed Bitcoin miners Marathon Digital Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT) and CleanSpark (CLSK) suffered even larger losses of 10-15% in late Monday morning action.
The price drop followed a rapid correction in crypto markets on Sunday evening, with BTC falling almost 10% from the $44,000 mark in a matter of minutes, in what could be described as a “flash crash.” At press time, Bitcoin was trading at $41,700, down about 5% in the last 24 hours. The CoinDesk Market Index (CMI), a basket of nearly 200 crypto assets, also fell 5%, highlighting the negative day for the broader market.
Despite today's losses, crypto stocks have still seen a massive rally in 2023.
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