The cryptocurrency market is experiencing a significant downturn, with crypto stocks taking a hit alongside digital assets. The bearish sentiment is widespread, with Bitcoin's price plummeting to lows not seen in months. As of now, Bitcoin is trading at $64,114, a 1.60% drop in the last 24 hours. This has led to a ripple effect, causing altcoins and crypto stocks to nosedive.

Crypto stocks, which are companies affected by Bitcoin, altcoin, or blockchain developments, are trading in the red. Coinbase (COIN), a digital asset exchange, has seen a 3.9% outflow in the last 24 hours, with weekly losses totaling over 8%. While monthly figures are trading sideways, long-term stats remain high. Coinbase's stock performance is closely tied to Bitcoin's price, with surging activities in bull markets and declined numbers in bear markets.

Bitcoin mining companies are also feeling the pinch, with Marathon Digital (MARA) down 7% today and 4% this week. Hut 8, a Canadian-based miner, has fallen 5.28% today, while Riot Platforms is down 8%. However, MicroStrategy has seen inflows, indicating a bullish momentum. The decline in crypto stocks is short-term and will likely swing with the wider market. If macro factors improve, Bitcoin and other crypto assets will soar, leading to a rebound in crypto stocks.

The market is eagerly awaiting upcoming events, such as interest rate cuts by the Federal Reserve and the US Presidential elections, which could potentially turn the tide. Bulls are eyeing these events as a catalyst for a market upswing. While the current sentiment is bearish, the crypto market is known for its volatility, and a rebound is always possible.

In conclusion, crypto stocks are experiencing a significant downturn alongside digital assets, but this decline is short-term. The market is waiting for a spark to turn the tide, and upcoming events could be the catalyst for a rebound. As the market continues to evolve, investors will be watching closely to see if crypto stocks can regain their momentum.