Cryptocurrencies generally fell: Bitcoin once fell below US$41,000 and rose by more than US$45,000 yesterday

Cryptocurrencies generally fell, with Bitcoin falling rapidly by more than 10%, once falling below $41,000. Ethereum once fell 8%. Coinglass data shows that in the past four hours, the entire network of cryptocurrency markets has been liquidated to US$379 million (long orders liquidated to US$363 million), and in the past one hour, the entire cryptocurrency market has been liquidated to US$384 million (long orders liquidated to US$374 million).

Cryptocurrency-related stocks then traded lower in pre-market trading. Cryptocurrency exchange Coinbase fell by more than 6%, Marathon Digital and CleanSpark fell by more than 10%, Riot Platforms fell by nearly 9%, and Cipher Mining and MicroStrategy fell by more than 6%. Share prices of crypto-related stocks have soared in 2023, with Marathon Digital rising nearly 600% and Riot Platforms rising more than 300%.

Yesterday, the price of Bitcoin exceeded the $45,000 mark for the first time since April 2022. This was largely boosted by market optimism that a spot Bitcoin exchange-traded fund (ETF) is expected to receive approval from the U.S. Securities and Exchange Commission (SEC).