Bitcoin Plunges Below $59,000 as Crypto Stocks Take a Hit

On Thursday, Bitcoin fell below $59,000, dropping nearly 4% within a 24-hour period.

Ethereum also declined, falling below $1,600 and plummeting nearly 5% over the same time frame.

Cryptocurrency-related stocks were broadly affected by these declines, with Strategy (MSTR.US) leading the way at a fall of more than 5%.

Other notable decliners included Coinbase (COIN.US), Circle (CRCL.US), and Robinhood (HOOD.US), which dropped over 1.3%, 2%, and 1.2% respectively.