Bitcoin ETFs and Crypto Stocks Face Declines in Market

Bitcoin ETFs Experience Trading Volume Despite Market Decline

While spot bitcoin exchange-traded funds (ETFs) saw significant trading activity on Thursday and Friday, publicly-listed crypto companies faced losses as the market closed on Friday. Marathon Digital Holdings' shares plummeted by over 15%, and Coinbase Global's stock registered a loss of more than 7% during trading sessions before the weekend.

Publicly-Listed Crypto Firms Grapple with Share Declines

In addition to the decline in bitcoin's spot market value, publicly-listed cryptocurrency companies also faced losses. Coinbase experienced a 7.35% decline, Canaan faced an 8.92% drop, and Block Inc. saw a moderate 2% decrease. Microstrategy Inc. took a substantial hit with a 9.45% loss. The new ETFs also struggled against the greenback, with Bitwise's BITB witnessing a decline of 6.19%, Fidelity Wise Origin Bitcoin Fund (FBTC) experiencing a similar 6.19% loss, Blackrock's IBIT registering a 6.23% decrease, and Valkyrie's BRRR seeing a 6.17% dip in value.

Bitcoin Miners and Other Crypto Firms Face Significant Losses

Publicly-listed bitcoin miners also faced substantial losses, with Marathon witnessing a significant 15.27% decline and Bitfarms experiencing a 6.15% reduction in value. Bit Digital struggled, recording a 7.59% loss against the dollar, and Iris Energy bore the brunt of a 14.74% hit to its valuation. Cleanspark didn't fare well either, losing 12.10% on Friday. Overall, it was a challenging day for publicly-listed crypto firms and bitcoin, with noticeable losses evident throughout.

Long-Term Gains Despite Short-Term Losses

While the short-term statistics may appear lackluster, a deeper analysis of the six-month and twelve-month market data reveals a contrasting narrative. The majority of the mentioned companies achieved double to triple-digit gains in the past year. Despite the recent losses, this suggests potential for a rebound in the market.

What do you think about the crypto company stocks that saw losses on Friday? Do you expect the market to rebound? Share your thoughts and opinions about this subject in the comments section below.


How To

Tips to Invest in Gold

One of the most sought-after investment strategies is investing in gold. There are many advantages to investing in Gold. There are several ways to invest in gold. There are many ways to invest in gold. Some prefer buying physical gold coins while others prefer gold ETFs (Exchange Traded Funds).

You should consider some things before you decide to purchase any type of gold.

  • First, verify that your country permits gold ownership. If the answer is yes, you can go ahead. Or, you might consider buying gold overseas.
  • Second, it is important to know which type of gold coin you are looking for. You can go for yellow gold, white gold, rose gold, etc.
  • Thirdly, you should take into consideration the price of gold. It is best to begin small and work your ways up. It is important to diversify your portfolio whenever you purchase gold. Diversifying your portfolio includes stocks, bonds, mutual funds, real estate, commodities, and mutual funds.
  • You should also remember that gold prices can change often. Therefore, you have to be aware of current trends.


By: Jamie Redman
Title: Bitcoin ETFs and Crypto Stocks Face Declines in Market
Sourced From:
Published Date: Sat, 13 Jan 2024 16:30:20 +0000

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