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12/05/2022

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Bitcoin, ether both trading lower as crypto stocks lead Monday declines - BitcoinEthereumNews.com

Cryptocurrency prices traded down on Monday, with bitcoin slipping below $17,000. Crypto-related stocks fell across the board, with declines lead by Silvergate.Bitcoin was trading at $16,932 shortly after...

Bitcoin, ether both trading lower as crypto stocks lead Monday declines - BitcoinEthereumNews.com

Cryptocurrency prices traded down on Monday, with bitcoin slipping below $17,000. Crypto-related stocks fell across the board, with declines lead by Silvergate.

Bitcoin was trading at $16,932 shortly after 4:00 p.m. EST on Monday, according to TradingView data. The leading cryptocurrency by market cap dropped 1% over the past 24 hours.

Ether was trading at $1,256, down 1.7% over the past 24 hours. Binance’s BNB experienced a slightly less severe sell-off, dropping by 1.5%. Dogecoin slipped 2.8%, while fellow dog-themed memecoin Shiba Inu bucked the downward trend by adding 0.3%.

Litecoin also fought the declines, rising 3.7% over the past day. 

U.S. indices were in the red today, with the S&P 500 closing down 1.8% and the Nasdaq 100 dropping 1.7%.

Coinbase shares experienced the least severe drop of any crypto-related stocks, slipping by 3.6% to $45.96. MicroStrategy fell by 5.6% to $195.45. 

Jack Dorsey’s Block was changing hands at $63.10 at the close, down 7.5%. Crypto-bank Silvergate led the drop on Monday, with shares in the La Jolla, Calif.-based bank falling 8.6% to $24.21. 

Silvergate has come under pressure over the past few weeks since it revealed exposure to FTX and BlockFi following both firms’ bankruptcy filings. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: https://www.theblock.co/post/192261/bitcoin-ether-both-trading-lower-as-crypto-stocks-lead-monday-declines?utm_source=rss&utm_medium=rss

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