Why Bitcoin- And Ethereum-Related Stocks Bit Digital And Marathon Digital Are Nosediving Today

Bit Digital Inc BTBT and Marathon Digital Holdings Inc MARA shares are trading lower by 13.24% to $1.48 and 11.11% to $10.28 Tuesday afternoon respectively.

Shares of several technology companies at large are trading lower amid overall market weakness as traders assess Walmart's earnings results and anticipate a large number of earnings reports this week, along with an FOMC meeting on Wednesday. Ongoing inflation and monetary policy tightening concerns have weighed on the economic outlook.

Shares of crypto-related companies are also trading lower amid a recent pullback in the price of Bitcoin BTC/USD and Ethereum ETH/USD:

Bitcoin is trading 9.8% lower at around $20,894 over the trailing 5 days.

Ethereum is trading 13.0% lower at around $1,371 over the trailing 5 days.

See Also: So Do You Believe Bitcoin Is Going Above $40K, Ethereum Above $3K And Dogecoin Above 20 Cents By End Of 2022?

According to data from Benzinga Pro, Bit Digital has a 52-week high of $20.74 and a 52-week low of $1.19. Marathon Digital has a 52-week high of $83.45 and a 52-week low of $5.20.