Bitcoin, ether nosedive in wake of broader stock-market rout (Cryptocurrency:BTC-USD)

Bitcoin (BTC-USD), ether (ETH-USD) and other major cryptocurrencies dropped in Thursday morning trading as a wider stock-market rout led to weakening investor sentiment for risk assets.

At 10:30 a.m. ET, bitcoin (BTC-USD) slumped 3.8% to $64.2K. It was changing hands just below $70K only five days ago. Ether (ETH-USD), which drew significant attention following the final approval and subsequent launch of spot ETH exchange-traded funds, plunged 8.1% to $3.15K.

Other popular tokens trading in the red include: solana (SOL-USD) -7.5%, binance coin (BNB-USD) -4.7%, toncoin (TONCOIN-USD) -6.5%, staked ether (STETH-USD) -9.1% and dogecoin (DOGE-USD) -8.1%. Here’s full list on Seeking Alpha of real-time market data page for crypto.

The retreat, which led to hundreds of millions of dollars worth of bullish bets being liquidated, coincides with a notable drop in equities amid tumbling megacap tech shares. Risk aversion, therefore, spread to the crypto market.

Speaking of equities, shares of crypto-linked companies gapped down as well. Michael Saylor’s MicroStrategy (MSTR) slid -6.8%, crypto exchange Coinbase (COIN) dipped -4.5%, Galaxy Digital (OTCPK:BRPHF) -4.4%, Riot Platforms (RIOT) -2.3%, Hut 8 (HUT) -11.3%, and Bit Digital (BTBT) -6%.