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Aptos Leads Losses as Crypto Weakness Continues; Coinbase Shares Fall to 7-Month Lows
Bitcoin tumbled below the $56,000 level on Thursday before a modest bounce.

Cryptocurrencies continued trending to the downside as recession fears weighed on risk assets ahead of Friday's key jobs data report.
Bitcoin BTC
Read more: Bitcoin Flounders Ahead of Friday Jobs Report That Might Push Fed to Slash Rates by 50 Basis Points
Native token of layer-1 blockchain Aptos APT
Cryptocurrencies usually underperformed the broader market in a window of seven days before and after large token unlocks over past years, a recent Messari research concluded analyzing hundreds of unlock events over the past years.
Looking at traditional markets, key U.S. equities declined during the morning session in a broader risk-off sentiment. The Dow Jones Industrial Average (DJIA) was down 0.9%, while the broad-based S&P 500 lost 0.5% by 12:00 Eastern time. The tech-heavy Nasdaq 100 erased its opening gains and stood mostly flat.
Crypto-focused stocks also performed poorly. Crypto exchange giant Coinbase (COIN) declined 1%, briefly slipping below $160 for the first time since February, taking out the lows hit during the early August crash due to the Japanese yen carry trade unwind. Large-cap bitcoin miners Marathon (MARA) and Riot Platforms (RIOT) were down 4% and 2%, respectively.
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
