Crypto stocks tumble as investors go into risk-off mode

Crypto stocks suffered Tuesday as investors fled tech stocks and riskier corners of the market.

Among crypto exchanges, Coinbase and eToro fell more than 5% and 6%, respectively, while Robinhood and Bullish both dropped more than 6%. Crypto financial services firm Galaxy Digital tumbled 10%. In the burgeoning sector of crypto treasury firms, Strategy lost 7%, SharpLink Gaming slid 8%, Bitmine Immersion slumped 9% and DeFi Development tumbled 13%. Stablecoin issuer Circle lost 4.5%.

Meanwhile, the price of bitcoin pulled back nearly 3% to just over $113,000. Ether was down more than 5% to the $4,100 level, according to Coin Metrics.