Shares of American Bitcoin Corp (ABTC), a mining company headed by Eric Trump, plummeted 53% on Tuesday as the cryptocurrency market grapples with continued volatility. ABTC’s stock dropped to $1.75 during intraday trading after reaching $9.31 in early September following its merger with Gryphon Digital Mining. The decline reflects broader sell-offs across crypto-related stocks, with Bitcoin’s price falling from record highs and traders unwinding risk positions. While ABTC posted a profitable third quarter, with strong revenue and net income, market pressure has overshadowed these results. Analysts suggest that the company’s aggressive investment in Bitcoin reserves contributes to its vulnerability during volatility periods. This trend is reflected across the broader crypto industry, where mining companies are heavily reliant on Bitcoin’s price movements, even with improved operational metrics. The downturn comes amid a wider sell-off of digital assets, with investors reprioritizing their positions. While ABTC’s recent listing has brought liquidity to the market, volatility remains high for companies linked to the cryptocurrency cycle. Whether this trend will stabilize or continue, the future of ABTC and the crypto industry at large hinges on Bitcoin’s trajectory.