GREE - Crypto-linked stocks in the red as bitcoin resumes slide
2023-05-18 15:46:28 ET
Bitcoin ( BTC-USD ) resumed its pullback in Tuesday mid-afternoon trading after failing to push through a key multi-day resistance level.
The cryptocurrency slid 2.1% to $26.80K at 3:46 p.m. ET, after flirting with $27.5K throughout most of the prior session amid cautious optimism following the latest round of debt-ceiling talks.
Other major digital tokens on the move include: ethereum ( ETH-USD ), down 1.5% to $1.80K, cardano ( ADA-USD ) -2.5% , dogecoin ( DOGE-USD ) -3.9% and polygon ( MATIC-USD ) -4.1% . Of course, the losses weighed on the overall crypto market value , falling 1.7% to $1.11T, according to CoinMarketCap data.
Elsewhere in the risk spectrum, all three major U.S. stock indices managed to stay in the green, with the tech-heavy Nasdaq, up 1.2% , rising the most as House Speaker Kevin McCarthy told reporters that a deal to raise or suspend the debt limit could be achieved as soon as this weekend.
Crypto-exposed stocks were mostly lower, with Marathon Digital ( MARA ) -7.3% , Galaxy Digital ( OTCPK:BRPHF ) -5.2% , Greenidge Generation ( GREE ) -9.5% and MGT Capital Investments ( OTCPK:MGTI ) -13.2% among the biggest losers, underscoring their strong correlation with crypto prices despite an up day in the broader stock market.
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Crypto-linked stocks in the red as bitcoin resumes slide