Public crypto proxies sold hard with the spot dump. CoinDesk’s morning tape had Coinbase, Circle, Strategy, and Robinhood each down roughly 8–10% early Thursday; later wrap-ups from The Block and market desks still showed Strategy and Coinbase around −10% while AI/data-center miners printed double-digit losses. Circle’s move also drew separate commentary on earnings quality — but the session’s primary driver was the beta hit from Bitcoin and Nasdaq.
Why it mattersCT often trades the equities as a leveraged BTC mirror; today that mirror cracked with tech, not just crypto-native flow.
News summary written by fadeCT from the linked reporting. Not financial advice. The fadeCT take, when present, is opinion.