Leading cryptocurrencies tumbled alongside equities on Thursday as heightening tensions in the Middle East dampened investor appetite for risk.
Ethereum slipped to approximately $1,800, erasing gains made earlier in the week. XRP and Dogecoin also experienced downward pressure.
Shares tied to the cryptocurrency sector also saw declines, with MicroStrategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) finishing the session down 6.38% and 6.48%, respectively.
More than $250 million in cryptocurrency market positions were liquidated over the past 24 hours, with $188 million in bullish long positions accounted for in those losses.
Stocks Edge Lower
Equities continued their downward trend on Thursday. The Dow Jones Industrial Average dropped 506.93 points, or 0.97%, to finish at 51,711.65. The S&P 500 fell 1.21% to 7,408.30, while the Nasdaq Composite, heavily weighted toward technology, shed 2.15% to close at 25,137.69.
U.S. military strikes on Iran reached their 13th consecutive day.
