{"id":20106,"date":"2022-06-16T22:55:33","date_gmt":"2022-06-16T22:55:33","guid":{"rendered":"http:\/\/egrowonline.com\/?p=20106"},"modified":"2022-06-16T22:55:33","modified_gmt":"2022-06-16T22:55:33","slug":"why-bitcoin-ethereum-and-litecoin-related-stocks-are-nosediving-today","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=20106","title":{"rendered":"Why Bitcoin-, Ethereum- And Litecoin-Related Stocks Are Nosediving Today"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"core-block\">Shares of crypto-related stocks, including <strong class=\"core-block\">Coinbase Global Inc<\/strong> <span class=\"ticker\" data-ticker=\"COIN\" data-exchange=\"NASDAQ\">COIN<\/span> and <strong class=\"core-block\">Riot Blockchain Inc<\/strong> <span class=\"ticker\" data-ticker=\"RIOT\" data-exchange=\"NASDAQ\">RIOT<\/span>, are trading lower Thursday afternoon amid ongoing weakness in <strong class=\"core-block\">Bitcoin<\/strong> (CRYPTO:<a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\" class=\"core-block\" rel=\"noopener\"> <\/a>BTC) and <strong class=\"core-block\">Ethereum<\/strong> (CRYPTO:<a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\" class=\"core-block\" rel=\"noopener\"> <\/a>ETH).<\/p>\n<p class=\"core-block\">Bitcoin is trading 4.35% lower Thursday afternoon at around $21,200.<\/p>\n<p class=\"core-block\">Ethereum is trading 7.10% lower Thursday afternoon at around $1,120.<\/p>\n<p class=\"core-block\">Companies in the broader <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/money\/bitcoin-mining-software\/\" class=\"core-block\" rel=\"noopener\">Bitcoin mining<\/a> and financial services sector are also experiencing marked weakness after the Federal Reserve Wednesday afternoon raised its target fed funds rate by 75 basis points to a new range of between 1.5% and 1.75%, its largest interest rate hike in 28 years.<\/p>\n<p class=\"core-block\">Cryptocurrencies have been seen by some investors as a speculative hedge against inflation and the Fed&#8217;s plans to curb inflation could weigh on the broader <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/money\/best-cryptocurrency\/\" class=\"core-block\" rel=\"noopener\">cryptocurrency<\/a>\u00a0sector.<\/p>\n<p class=\"core-block\"><em class=\"core-block\">See Also:<a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/news\/22\/06\/27727459\/federal-reserve-raises-interest-rates-by-0-75-hikes-inflation-estimates\" class=\"core-block\" rel=\"noopener\"> Federal Reserve Raises Interest Rates by 0.75%, Hikes Inflation Estimates<\/a><\/em><\/p>\n<p class=\"core-block\">Coinbase is the leading cryptocurrency exchange platform in the United States.<\/p>\n<p class=\"core-block\">Coinbase is trading lower by 5.68% at $51.88 per share.<\/p>\n<p class=\"core-block\">Riot Blockchain is focused on building, supporting and operating blockchain technologies.<\/p>\n<p class=\"core-block\">Riot Blockchain is trading lower by 6.89% at $4.52 per share.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/06\/27748452\/why-bitcoin-ethereum-and-litecoin-related-stocks-are-nosediving-today\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of crypto-related stocks, including Coinbase Global Inc COIN and Riot Blockchain Inc RIOT, are trading lower Thursday afternoon amid ongoing weakness in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Bitcoin is trading 4.35% lower Thursday afternoon at around $21,200. Ethereum is trading 7.10% lower Thursday afternoon at around $1,120. Companies in the broader Bitcoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[50,158,7233,8925,455,446],"class_list":["post-20106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-bitcoin","tag-ethereum","tag-litecoinrelated","tag-nosediving","tag-stocks","tag-today"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/25_2.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20106"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20106\/revisions"}],"predecessor-version":[{"id":20108,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20106\/revisions\/20108"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/20107"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20106"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}