Bitcoin Miners Lead Wall Street's Crypto Sell-Off: Why Are They Falling Hardest?

Bitcoin sank to about $68,000 on Friday. That is its lowest price since August. US stocks tied to the coin went down with it. The companies that mine new Bitcoin took the worst hit. Hut 8 dropped 6%. Riot Platforms and MARA Holdings each lost 3.9%. Coinbase, the largest US crypto exchange, slipped just 0.5%. Why is Bitcoin Falling? It started with prices at the shops. US consumer prices rose 0.4% in October, above the 0.3% economists expected, the Bureau of Labor Statistics said on Tuesday. Traders now bet the Federal Reserve will raise interest rates in December. Higher rates make risky bets like Bitcoin less attractive.

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