Bitcoin and Crypto Markets Experience Significant Losses as Prices Drop Below Key Support Levels.

The price of Bitcoin continued to decline, reaching $28,200, causing related stocks to fall sharply in Thursday trading. Bitcoin miners, Marathon Digital and Riot Platforms, saw their stocks drop by about 10%, while Hut 8 Mining fell by 9%. Shares of Coinbase and MicroStrategy, which holds 140,000 bitcoins in its treasury, both fell more than 6%. The decline in Bitcoin's price may have been influenced by the U.K. consumer price report, which showed inflation continuing to hold above 10% in March. Meanwhile, U.S. economic data released on Thursday showed some weakness, and short-term rate traders have priced in a nearly 100% chance of another 25-basis point rate hike at the next meeting of the U.S. Federal Reserve's Federal Open Market Committee.