Cipher Mining Inc is trading 10% down at $21.86 as part of a sharp pullback in crypto-linked and high-beta tech names following a strong multi-day rally.
- The drop tracks a 3–4% slide in major cryptocurrencies like Bitcoin and Ethereum.
- The move coincides with a broad risk-off sentiment in U.S. equities, with the Nasdaq and S&P 500 both down more than 1%.
- The price action appears driven by macro market trends rather than any new company-specific developments.