Companies tied to the cryptocurrency market slumped on Monday as another wave of Bitcoin (COIN:BTCUSD) selling pressured exchanges, miners, and firms with exposure to digital assets.
Bitcoin dropped about 4.4% to $86,429, deepening a retreat that followed its worst monthly performance since the 2021 crypto crash. The decline coincides with a broader risk-off shift at the start of December, as investors step back from both digital assets and equities amid ongoing macroeconomic uncertainty. U.S. index futures were also trading lower.
The selloff spread across nearly all crypto-exposed stocks. Coinbase Global (NASDAQ:COIN) slipped 3.5% in premarket action, while blockchain mining operator Bitfarms (NASDAQ:BITF) plunged 7.8%.
Major miners were firmly in the red as well:
- Riot Platforms (NASDAQ:RIOT) down 4.5%
- MARA Holdings (NASDAQ:MARA) off 4.9%
- Hut 8 (NASDAQ:HUT) down 5.3%
- Bit Digital (NASDAQ:BTBT) lower by 3.4%
MicroStrategy (NASDAQ:MSTR), the largest public corporate holder of Bitcoin, fell 4.1% as the token’s downturn dragged on sentiment across the crypto ecosystem.
The latest slide extends a volatile November, a month marked by renewed questions about stretched valuations in high-growth technology and artificial intelligence plays—concerns that helped push investors into a more defensive stance. While markets saw a brief rebound in recent sessions, Bitcoin remains down roughly 7.5% year-to-date, raising worries that continued market risk aversion could keep pressure on digital assets.
Sentiment in Asia also weakened after the People’s Bank of China issued a warning about illegal activities involving digital currencies, triggering sharp declines in Hong Kong–listed crypto companies and adding to the global selloff.