Crypto extends decline as investors shed riskier assets

[Bitcoin falling down]
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Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) and other cryptocurrencies retrenched further on Tuesday, following high-growth tech stocks lower as investors [https://seekingalpha.com/news/4487083-palantir-oracle-lead-enterprise-software-stocks-lower-ahead-of-powells-comments] turned more risk averse ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech on Friday.

Bitcoin continued to backtrack from its $124.2K record last week, falling 2.4% over the last 24 hours to $113.5K as of 2:12 PM ET on Tuesday. Ethereum (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) slid 3.0% to $4.19K, slipping from its recent high $4.78K on Aug. 14, after not quite reaching its prior record of $4.88K.

Other popular tokens dropping include XRP (XRP-USD [https://seekingalpha.com/symbol/XRP-USD]) -4.2%, solana (SOL-USD [https://seekingalpha.com/symbol/SOL-USD]) -2.4%, cardano (ADA-USD [https://seekingalpha.com/symbol/ADA-USD]) --7.0%, and dogecoin (DOGE-USD [https://seekingalpha.com/symbol/DOGE-USD]) -4.0%.

Some of the hottest crypto stocks, especially recent IPO stocks, took a tumble. Bullish (NYSE:BLSH [https://seekingalpha.com/symbol/BLSH]) sank 6.1%, Circle Internet (CRCL [https://seekingalpha.com/symbol/CRCL]) dropped 5.0%, and eToro (ETOR [https://seekingalpha.com/symbol/ETOR]) slid 5.2%. The recent weakness may have blockchain-based lender Figure Technologies (FIGR [https://seekingalpha.com/symbol/FIGR]) holding off on scheduling its IPO. The company filed a registration statement [https://seekingalpha.com/news/4486887-blockchain-based-lender-figure-technology-files-for-ipo]for an IPO on Tuesday.

More-established crypto-linked stocks also felt the pain. Coinbase (COIN [https://seekingalpha.com/symbol/COIN]) dipped 4.7%, Bakkt Holdings (BKKT [https://seekingalpha.com/symbol/BKKT]) tanked 10%, Hut 8 (HUT [https://seekingalpha.com/symbol/HUT]) wilted 9.4%, Strategy (MSTR [https://seekingalpha.com/symbol/MSTR]) swooned 7.0%, MARA Holdings (MARA [https://seekingalpha.com/symbol/MARA]) lost 5.8%, and Riot Platforms (RIOT [https://seekingalpha.com/symbol/RIOT]) fell 3.9%.

MORE ON BITCOIN, BULLISH

* VanEck Mid-August 2025 Bitcoin ChainCheck [https://seekingalpha.com/article/4814740-vaneck-mid-august-2025-bitcoin-chaincheck]
* Cryptocurrencies Extend Their Decline From Recent Highs [https://seekingalpha.com/article/4814622-cryptocurrencies-extend-decline-recent-highs]
* Bullish: Hard To Be Bullish [https://seekingalpha.com/article/4814453-bullish-hard-to-be-bullish]
* Bullish says it arranged to receive $1.15B of IPO proceeds in stablecoins [https://seekingalpha.com/news/4486935-bullish-says-it-arranged-to-receive-115b-of-ipo-proceeds-in-stablecoins]
* BitMine Immersion ramps up ether holdings to $6.6B in past week [https://seekingalpha.com/news/4486615-bitmine-immersion-ramps-up-ether-holdings-to-66b-in-past-week]