{"id":61196,"date":"2022-05-09T17:38:02","date_gmt":"2022-05-09T14:38:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61196"},"modified":"2025-09-05T10:44:24","modified_gmt":"2025-09-05T07:44:24","slug":"crypto-sector-shares-fell-more-steeply-than-bitcoin-in-april","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/crypto-sector-shares-fell-more-steeply-than-bitcoin-in-april\/","title":{"rendered":"Crypto-sector shares fell more steeply than Bitcoin in April"},"content":{"rendered":"<p>In April, shares of cryptocurrency-related companies, including miners, fell significantly harder than Bitcoin, according to a ForkLog report.<\/p>\n<p>The price of digital gold fell 17.3% during the period, Ethereum dropped 16.9%. Total market capitalization declined 18%.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh4.googleusercontent.com\/wpAGOzF8qayZH-NnY1QbN0mPRKkdEPYdrcLgyYSHwVkeFYp2ACeTPxrywNdE6a1JCXCVSazHcqao1pctWUoo3hbngwln_QnMWsxz-GcB_tZftX1ujQRu525QaQ5rGALeuExP85XoiyRwQaMDdA\\\" alt=\\\"In April, crypto-company shares fell deeper than Bitcoin.\\\"\/><figcaption>Daily BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>Against this backdrop, Coinbase, the largest US cryptocurrency exchange, fell by more than 40%, while Bakkt declined 38.1%.<\/p>\n<p>Losses among mining-industry companies were even higher: Riot Blockchain&#8217;s shares fell 50.8%, Marathon Digital&#8217;s price dropped 45.3%. The mining-hardware maker Canaan recorded a 35% decline in its stock price.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh3.googleusercontent.com\/jFBrx2YwtEmPPX251Z0OCoWTlUc08NRUKNCibuDmWQCQHd87z6GtszG9I9TAJt9SdvzVBJsAhOSOaIN3sWCHASDeiDa6LuPIKRotGOMOPNDBakbTktzAhhtfKbmQbX3iOwQIKKS6uKjRGP2hPA\\\" alt=\\\"In April, crypto-company shares fell deeper than Bitcoin.\\\"\/><figcaption>Data: ForkLog.<\/figcaption><\/figure>\n<p>In April, the stock market broadly resumed its downward trend. The Nasdaq Composite retraced from its mid-month high by 22.2%, while the S&#038;P 500 declined 12.78%.<\/p>\n<p>During the period, Bitcoin&#8217;s correlation with the US stock market strengthened. The statistical correlation with the S&#038;P 500 stood at 0.52, up from 0.48 in March. For Ethereum, the figure reached 0.57.<\/p>\n<p>Former BitMEX CEO and co-founder Arthur Hayes predicted that, due to the correlation with traditional markets, Bitcoin and Ethereum would test the $30,000 and $2,500 levels respectively by the end of Q2 2022 <a href=\\\"https:\/\/forklog.io\/souchreditel-bitmex-predskazal-obval-bitkoina-k-30-000\/\\\">test the $30,000 and $2,500 levels<\/a> respectively.<\/p>\n<p>On May 9, the price of digital gold <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-32000\">fell below the $33,500 level<\/a>. Shares of cryptocurrency-related companies also continued to decline.<\/p>\n<p><script async src=\\\"https:\/\/telegram.org\/js\/telegram-widget.js?19\\\" data-telegram-post=\\\"forklog\/25401\\\" data-width=\\\"100%\\\"><\/script><\/p>\n<p><strong>Sponsor of the &#8220;Bitcoin Industry in Numbers&#8221; column \u2014 the global blockchain ecosystem<\/strong> <a href=\\\"https:\/\/www.binance.com\/ru\\\"><strong>Binance<\/strong><\/a><strong>.<\/strong><\/p>\n<p>Analysts at Arcane Research proposed an industry metric for comparing public mining companies. <a href=\"https:\/\/u1f987.com\/en\/news\/arcane-research-marathon-digital-shares-are-overvalued\">The most overvalued were<\/a> Marathon and Riot shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In April, shares of cryptocurrency-related companies, including miners, fell significantly harder than Bitcoin. According to a ForkLog report.<\/p>\n","protected":false},"author":1,"featured_media":61197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1252,1211],"class_list":["post-61196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-reports","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=61196"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61196\/revisions"}],"predecessor-version":[{"id":61198,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61196\/revisions\/61198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61197"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}