Coinbase has worst week of the year as crypto stocks plummet

Bitcoin and Crypto Stocks Tumble Amid Concerns Over US Economy #

Bitcoin, ether, and crypto-related stocks experienced significant selling pressure this week due to concerns about the health of the US economy. The decline was reflected in the performance of Coinbase, which had its worst week of the year, as well as bitcoin miner Marathon Digital, which saw a 20% tumble. September has historically been a difficult month for crypto assets, with fears about economic slowdown and market sentiment leading to a decline in prices. In addition, weak manufacturing data and disappointing labor market results further contributed to the selloff. The total market cap of the crypto industry is now down close to 30% from its peak in 2024.