Cipher Digital Inc (NASDAQ:CIFR) stock traded lower on Thursday, driven by broad market weakness and continued downward momentum in Bitcoin from Wednesday. Macroeconomic factors weighed on investor sentiment too during the trading session.
The Nasdaq is down 0.97% while the S&P 500 has shed 0.61%.
According to Trading Economics, oil prices reached May highs, with Brent crude exceeding $102 per barrel and crude rising above $97 amid the ongoing U.S.-Iran conflict. Iran indicated readiness for intensified conflict.
On Thursday, Bitcoin (CRYPTO: BTC) traded at $76,838.53, down $1,421.86, or 1.82%, over the last 24 hours.
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