Bitcoin-Linked Stocks Dive on October 11 After Nasdaq’s Sharpest Drop Since April—Coinbase, MicroStrategy and American Bitcoin Hit Hard

COINOTAG News (Oct. 11) — U.S. equities closed lower on Friday, with the Dow down 1.9%, the S&P 500 off 2.7% and the Nasdaq Composite slipping 3.5%; both the Nasdaq and S&P 500 recorded their largest single-day drops since April 10, reflecting broad-based selling pressure across market caps.

The sell-off extended to cryptocurrency stocks, with notable moves including Coinbase (COIN) -7.75%, Circle (CRCL) -11.66%, MicroStrategy (MSTR) -4.84%, Bullish (BLSH) -9.44%, Bitmine (BMNR) -11.22%, SharpLink Gaming (SBET) -9.65%, BTCS (BTCS) -12.7%, BNB Network (BNC) -7%, ALT5 Sigma (ALTS) -8.82% and American Bitcoin (ABTC) -9.16%. Eightco Holdings (ORBS) rose 16.59% while Helius (HSDT) -12.91%, NAKA -7.22% and Figure (FIGR) -12.03% also posted declines.

Market participants tracking cryptocurrency stocks should incorporate these price moves into their risk management frameworks, emphasizing position sizing, liquidity considerations and correlation to major indices when rebalancing exposure.

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