Crypto stocks dip as bitcoin continues to fade from all-time high

MGT Capital Investment (OTCQB:MGTI), Bit Digital (NASDAQ:BTBT), The9 Limited (NASDAQ:NCTY), Sphere 3D (NASDAQ:ANY) and SOS (NYSE:SOS) are among a large group of crypto-related stocks that are trading deep in the red as bitcoin (BTC-USD) falls about 10% from its all-time high of $67.7K from just two days ago. Still, the largest digital token by market cap is up nearly 2.50% so far this week, +45% M/M and +386% Y/Y, as per the chart below. A lot has happened in the crypto community this week including the debut of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), which started trading this past Tuesday, and saw trade volumes just shy of $1B. Of course, BITO, which is highly correlated with the price of bitcoin (BTC-USD), declines 3.8% intra-day. Some other bitcoin proxies that are also trading lower include Grayscale Bitcoin Trust (OTC:GBTC -0.5%), MicroStrategy (MSTR -2.8%) and Osprey Bitcoin Trust (OTCPK:OBTC -2.2%). Additionally, the Valkyrie