Bitcoin Falls Below $88,000 as Crypto Market Drops 4.6% and U.S. Crypto Stocks Tumble
Bitcoin fell below $88,000 to $88,430 and Ethereum dropped to $2,920 before trading at $2,943 on Jan. 21, HTX price data show. Total cryptocurrency market capitalization declined 4.6% in a single day to $3.072 trillion, with altcoins leading losses: Binance Life fell 19.3% to $0.172, ROSE dropped 17.5% to $0.0165, PHB slid 13.6% to $0.0038, MORPHO declined 11.02% to $1.145, and STO lost 10.98% to $0.0877. U.S. equities sold off overnight as the S&P 500 sank 2.06%, its largest one-day loss since October last year, while the Dow Jones fell 1.76% and the Nasdaq dropped 2.39%. Crypto-related U.S. stocks slumped, with Strategy down 7.76%, Coinbase down 5.57%, Circle down 7.45%, MARA Holdings falling 8.71%, Riot Platforms down 5.93%, BitMine Immersion sliding 9.39%, and SharpLink Gaming losing 9.59%.