Stock Track | IREN Ltd Plunges 6.38% in Pre-Market as Crypto Market Selloff Intensifies

Stock Track

2025/12/01

IREN Ltd (IREN) saw its shares drop sharply by 6.38% in pre-market trading on Monday, mirroring a broader downturn in crypto-related stocks.

The decline followed a sharp selloff in the cryptocurrency market, with Bitcoin sliding 6% to below $86,000 and Ether dropping over 7%. The selloff was fueled by multiple factors, including Strategy Inc.'s CEO hinting at potential Bitcoin sales if its mNAV turns negative, S&P Global Ratings downgrading the stability assessment of USDT, and China's central bank issuing warnings about virtual currencies. These events collectively heightened investor caution, leading to a risk-off sentiment in crypto-linked equities like IREN.

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