Bitcoin (BTC) Price Drops Below $56,000 As Crypto Weakness Continues; Coinbase (COIN) falls to 7-month lows

Crypto-focused stocks also underperformed. Crypto exchange giant Coinbase ( COIN ) fell 1%, briefly dipping below $160 for the first time since February, erasing the lows it hit during the early-August crash due to trading in the Japanese yen. Large-cap bitcoin miners Marathon ( MARA ) and Riot Platforms ( RIOT ) fell 4% and 2%, respectively.