Bitcoin dives further from $30K, sending crypto stocks lower

Bitcoin ( BTC-USD ) continued its downward spiral in Thursday afternoon trading, sliding further away from the closely-watched $30K mark, as sentiment toward the stock market took a hit as investors digested the latest bout of corporate earnings. The token's price has been retreating since since reaching $31K last week -- the highest level since June 2022. It slipped 2.5% to $28.61K at 12:37 p.m. ET, coinciding with intraday slumps in ethereum ( ETH-USD ), -1.7% , XRP ( XRP-USD ), -4.1% , dogecoin ( DOGE-USD ), -5.3% , and cardano ( ADA-USD ), -4.1% . The bearish price action, partly triggered by renewed interest-rate jitters amid stubbornly high global inflation , pulled the global crypto market cap down 1.9% to $1.21T after eyeing $1.30T just days ago, according to data from CoinMarketCap. At the same time, all three major U.S. stock indices fell modestly, with the Dow Jones slipping 0.2% , S&P 500 -0.4% , and tech-heavy Nasdaq -0.3% . Most crypto-exposed stocks traded in negative territory at the time of writing. The biggest decliners featured MicroStrategy ( MSTR ), -4.1% , Core Scientific ( OTCPK:CORZQ ), -9.1% , Greenidge Generation ( GREE ), -7.6% , Bit Digital ( BTBT ), -9.7% , Bitfarms ( BITF ), -6.8% , and CleanSpark ( CLSK ), -7.9% , while BIT mining ( BTCM ), +2.8% , and Sos ( SOS ), +1.6% , eked out small gains. Take a look at the latest crypto-market outlooks .