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Cryptocurrency stocks were falling Tuesday as Bitcoin slid from its record high last week.
Shares of MicroStrategy lost 12% in trading Tuesday, while Coinbase was off 5%, Riot Platforms was down 3.5%, and Marathon Digital declined 3.9%.
Bitcoin last week hit a record high of nearly $74,000, days after flying past its November 2021 peak near $69,000. Bitcoin has declined 5.1% over the past 24 hours to $63,520.
The downturn could gain momentum, according to analysts, but they remain optimistic on the long-term outlook, Barron’s reported. -- Barron's