Bitcoin (BTC) price falls below $56,000 as crypto bears continue, Coinbase (COIN) falls to 7-month low

Crypto-focused stocks also underperformed. Crypto exchange giant Coinbase (COIN) fell 1%, briefly falling below $160 for the first time since February, breaking the lows it hit in early August as Japanese yen carry trades unwound. Major Bitcoin miners Marathon (MARA) and Riot Platforms (RIOT) fell 4% and 2%, respectively.