The global crypto market suffered a broad selloff Wednesday, with Bitcoin slipping from $68,000 to below $65,000 intraday before recovering to near $68,000. Ethereum, XRP, Solana and Dogecoin also fell, while total market liquidations reached $470 million and Bitcoin trading volume rose 25% over 24 hours.

BitMine Immersion Technologies shares closed down 2.41% on the session, mirroring the crypto downturn and underperforming peer Strategy Inc., which fell 5.21%. The stock's drop reflects its exposure to digital asset price swings and the mining technology sector’s sensitivity to crypto volatility.

On-chain data show whale outflows from exchanges rising to a 30-day simple moving average of 3.2%, indicating large holders continue withdrawing Bitcoin to private wallets. This pattern mirrors early-2022 accumulation waves and could presage either a bullish buildup or extended selling pressure that influences mining firms’ valuations.