As reported by Bijié Wǎng, Bitcoin dropped below $88,600 on Wednesday, marking its first time below that level since late April, while stocks of crypto-focused firms like Circle and Strategy fell sharply. Circle closed at $69.72, down nearly 9%, after hitting a post-IPO low below $69. Strategy shares dropped nearly 10%, and Bitmine Immersion fell 9.6%. Bitcoin’s 24-hour decline reached 2.7%, and it has fallen 4% year-to-date from its peak of over $126,000 in early October. Meanwhile, Ethereum fell 2%, XRP and Solana dropped 4% and 2%, respectively. Bitcoin miners including MARA Holdings and Riot Platforms also saw declines of 4% to 6.5%.
Bitcoin Falls Below $88,600 as Circle and Bitcoin ETF Stocks Lead Crypto Market Decline
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