Bitcoin slides to $72K, extending selloff and dragging crypto stocks lower

Bitcoin fell to approximately $72,000 on Wednesday, reaching its lowest point this year amid intensifying selling pressure across digital assets, deepening a downtrend that began after its mid-January peak near $96,000. This selloff severely impacted crypto-linked equities; notably, Strategy shares dropped about 9% to around $121.9, as its large bitcoin treasury, acquired near $76,000, now faces an unrealized loss of about $2.9 billion. Other major crypto stocks also suffered, with Coinbase down roughly 8% and Robinhood dropping around 10%. Mining stocks were hit hardest, including Cipher Mining off 21% and Iren down 18%. The broader crypto market capitalization slipped 3% to $2.5 trillion, with Ether near $2,100. This weakness mirrored a pullback in general risk assets, as the S&P 500 fell 1% and the Nasdaq dropped nearly 2%, while over $860 million in crypto positions were liquidated in the last 24 hours.

(Source：Crypto Briefing)