Bitcoin (BTC) experienced a minor rebound from its earlier lows, while bitcoin mining stocks continued to decline amid doubts about their value as data center plays. The broader crypto market also saw significant losses, with the Nasdaq and tech stocks taking a hit. The sharp decline led to the liquidation of nearly $1 billion in leveraged derivatives positions. Crypto-adjacent stocks, including Coinbase and Galaxy, also closed lower. Bitcoin mining stocks, such as Riot Platforms and MARA Holdings, suffered steeper losses. Miners that focused on high-performance computing for AI training fared even worse. Market participants will be watching the Federal Reserve meeting and large tech firms' earnings reports for further direction. The recent market correction may present an attractive entry opportunity for altcoin investors.



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