Bitcoin Falls to Three-Month Low, Weighing on Crypto-Linked Stocks
Bitcoin fell to its lowest level in three months, pressuring crypto-linked stocks in the U.S. market. Bitcoin mining shares led the declines.Walter Bloomberg said on November 13 that Bitcoin had touched a three-month low. Shares of Bitcoin miner Hut 8 fell 6.0%, while Riot Platforms and MARA Holdings each dropped 3.9%.Crypto trading platform-related stocks also weakened. Robinhood fell 3.2%, and Coinbase slipped 0.5%.Strategy, a corporate Bitcoin holder, declined 2.1%. Among major crypto-linked stocks, Hut 8 posted the biggest drop.