Bitcoin (BTC) Price Slips Below $56K as Crypto Weakness Continues; Coinbase (COIN) Falls to 7-Month Lows

Crypto-focused stocks also performed poorly. Crypto exchange giant Coinbase (COIN) declined 1%, briefly slipping below $160 for the first time since February, taking out the lows hit during the early August crash due to the Japanese yen carry trade unwind. Large-cap bitcoin miners Marathon (MARA) and Riot Platforms (RIOT) were down 4% and 2%, respectively.