Trump-Linked American Bitcoin (ABTC) Crashes 40% on High Volume, Pulling Hut 8 (HUT) Down 12%

The cryptocurrency market witnessed a sharp sell-off for American Bitcoin (ABTC), a digital asset linked to former President Donald Trump. ABTC's price plummeted approximately 40% amid exceptionally heavy trading volume. This dramatic decline had a significant ripple effect, dragging down shares of the major Bitcoin mining company Hut 8 Corp. (HUT), which fell around 12% in tandem. The sell-off highlights the volatility and interconnected nature of assets within the crypto and mining sectors, especially those associated with high-profile political figures. Market analysts are monitoring the situation to determine if this is an isolated event or the start of a broader correction for related stocks and tokens.