Stocks recovered from steep losses following the market's worst day in over a month, erasing weeks of gains and pulling back from record highs.

Market cap falls below Bitcoin holdings as investors prefer ETFs over corporate crypto structures and leverage risks.

Major U.S. stock indexes finished mostly lower Friday, with the S&P 500 giving up gains as the closing bell neared. Investors are still missing key economic reports from the government despite its reopening earlier this week.

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Bitcoin has dropped into a bear market this month, and the world's largest crypto is on the verge of erasing its gains for the year.

As of publishing time on Friday, Bitcoin has been hovering around the $94,000 to $97,000 price range. That price point is the lowest Bitcoin has seen since early May and a big drop from the more than $126,000 all-time high that Bitcoin reached just early last month.

Cypherpunk has acquired 203,775 ZEC at an average $245.37 per token, now worth over $573 each. ・The company is backed by the Winklevoss twins' family office, Winklevoss Capital. ・It announced its rebranding from Leap Therapeutics and pivot to a Zcash-based treasury earlier this week.

The Bitcoin mining giant Hut 8 (Nasdaq: HUT) owns 80% of American Bitcoin, and the Trump brothers and other shareholders own the remaining 20%. The company's stock sank nearly 2% as the market opened. At the time of writing, it was exchanging hands at $4.67.

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