Crypto-Linked Stocks Fall as Bitcoin Hits Lowest Since August

The breadth of the selloff — hitting miners, exchanges, and treasury-holding firms alike — suggests this is a macro risk-off move rather than a crypto-specific story, with rate concerns acting as the common thread. The dispersion matters: MARA and Galaxy fell harder than Coinbase or Circle, hinting that higher-beta names absorb the sharper swings when sentiment turns. Whether bitcoin's slide toward its August lows becomes a broader de-risking signal across listed crypto proxies, or stabilizes as rate anxiety fades, is the open question worth tracking.