From Nasdaq: 2024-04-02 18:49:00

Stocks like Cleanspark (CLSK) and Bit Digital (BTBT) saw significant price drops due to the poor performance of Bitcoin. Meanwhile, Bitcoin’s value dropped to slightly over $65,000 from a recent peak of over $70,000, partly due to the rise in the U.S. dollar’s value driven by a manufacturing index exceeding expectations.

The recent outflows of nearly $86 million from spot Bitcoin ETFs suggest a volatile market. It’s uncertain whether this is a short-term correction or a longer slide, but the popularity of ETFs and positive sentiment toward cryptocurrency hint at a possible short-term correction amidst the volatile crypto market.

Read more at Nasdaq: Why Crypto Mining and Associated Stocks Tumbled on Tuesday