Crypto-related stocks tumbled Tuesday as investors pulled back from tech and other high-risk assets.

Coinbase and eToro each lost more than 5 per cent while Robinhood and Bullish fell over 6 per cent.

Galaxy Digital slid 11 per cent and among crypto treasury firms, Strategy dropped 7 per cent, SharpLink Gaming 8 per cent Bitmine Immersion 12 per cent, and DeFi Development 15 per cent Stablecoin issuer Circle also shed 5 per cent.

Bitcoin retreated nearly 3 per cent to just above $113,000, and ether slipped more than 4 per cent to around $4,100, according to Coin Metrics.

This came just a week after bitcoin hit an intraday record near $125,000.

The Nasdaq Composite fell more than 1 per cent Tuesday, dragged lower by Nvidia and other big tech names.

Analysts say crypto often mirrors tech moves given its growth-driven investor base, speculative character, and reliance on lower interest rates.

Markets now await the Federal Reserve’s Jackson Hole symposium for signals on monetary policy.

Any dovish hints from Chair Jerome Powell could give crypto a rebound.

“With Powell speaking at Jackson Hole, we typically see profit-taking ahead of his remarks,” said Satraj Bambra, CEO of hybrid exchange Rails. “Any time there’s communication uncertainty from the Fed, you can generally expect some profit-taking as traders de-risk their positions.”

“With Powell speaking at Jackson Hole, we typically see profit-taking ahead of his remarks,” said Satraj Bambra, CEO of hybrid exchange Rails. “Any time there’s communication uncertainty from the Fed, you can generally expect some profit-taking as traders de-risk their positions.”