Crypto Stocks Tumble in Pre-Market Trading as Bitcoin Dives to $112K

Group 1 - Crypto-related company stocks experienced significant declines in pre-market trading, with Coinbase (COIN) down 3%, Strategy (MSTR) down 2.3%, and both Mara Holdings (MARA) and Metaplanet (TYO: 3350) losing over 3% [1] - The sell-off in equities was exacerbated by a rough morning for crypto treasury companies, with Forward Industries (FORD) down 5% and BitMine (BMNR) down 3.9% in pre-market trading [2] - The downturn in the crypto market followed a challenging weekly open, with Bitcoin (BTC) and Ether (ETH) down 2.3% and 6.4% respectively, alongside several altcoins experiencing double-digit declines [2] Group 2 - The market reversal was attributed to several tokens losing momentum after a previous week of gains, coinciding with the Federal Reserve's decision to cut interest rates by 25 basis points [3] - This reversal resulted in widespread liquidations across crypto derivatives exchanges, with $500 million worth of ETH positions unwound in the past 24 hours [3] - Overall, the crypto market faced $1.6 billion in liquidations across derivatives exchanges due to the ongoing sell pressure [1]