Cryptocurrency-related stocks in the U.S. dropped in premarket trading, tracking the decline in Bitcoin’s price amid heightened risk aversion after Moody’s downgraded the country’s top credit rating.
Notable movers included Coinbase (NASDAQ: COIN), down 3.1%, MicroStrategy (NASDAQ: MSTR), off 1.2%, and Bitfarms, which fell 4.3%. Cipher Mining (NASDAQ: CIFR) saw a significant 6.5% decline, while Bit Digital dropped 3.8%, and Riot Platforms (NASDAQ: RIOT) decreased by 1.6%.
Other declines included MARA Holdings (-1.7%), CleanSpark (NASDAQ: CLSK) (-2.1%), Core Scientific (-3.2%), TeraWulf (-3.3%), and Robinhood (NASDAQ: HOOD), which fell as much as 4.7%.
These stock movements mirror Bitcoin’s downturn and reflect broader market caution following Moody’s U.S. credit rating downgrade.