The crypto market rally has reversed, with major coins moving lower. Bitcoin ($BTC ) dropped 3.9% and is now trading around $86,500. Ether (ETH) also saw a sharp decline, falling 5.3%, while X$RP slipped 4.1%.

The weakness was not limited to cryptocurrencies, as crypto-related stocks also pulled back. Mining companies were among the biggest losers, with MARA Holdings (MARA) down 4.8% and Core Scientific (CORZ) falling 6%.

However, Hut 8 (HU$T) remained an exception. The stock is still up 12.8%, supported by positive sentiment after the company announced a $7 billion lease agreement.