Scott Wapner (Host) 00:00.070
mac tell us about bitcoin we're just showing and there's red all over the board yes
Mackenzie Sigalos (Technology Reporter) 00:04.230
there is scott bitcoin and the broader crypto market is under pressure today breaking from the strength that we're seeing in tech equities bitcoin
Mackenzie Sigalos (Technology Reporter) 00:10.990
trading at that eighty eight K level and all coins like XRP are in the red
Mackenzie Sigalos (Technology Reporter) 00:15.190
spot bitcoin etfs are net negative on the week a sign that institutional demand is cooling for now
Mackenzie Sigalos (Technology Reporter) 00:20.910
analysts they say this looks like classic year end tax loss selling as investors lock in write offs
Mackenzie Sigalos (Technology Reporter) 00:26.550
and within holiday trading in a big options expiry friday QCP capital says moves can be exaggerated but they expect this to settle once january volume comes back
Mackenzie Sigalos (Technology Reporter) 00:37.270
now the bigger damage is actually showing up in crypto aligned stocks today coinbase circle etoro and bullish are all lower along with the digital asset treasury names including bitcoin proxies like strategy and twenty one capital
Mackenzie Sigalos (Technology Reporter) 00:50.110
ether linked reserve plays are sliding to including eats zilla and tom lee 's bit mine immersion