Crypto stocks have been hit hard by a market rout, with bitcoin BTC $ 65,977.39 below $66,000. Crypto exchange Coinbase (COIN) and Galaxy (GLXY) dropped nearly 7%, while Gemini (GEMI) slid almost 9%, marking one of the steepest losses in the group. Other high-risk assets, including Bitcoin-linked balance sheet plays, and miners, also saw declines. The Federal Reserve is dealing with inflation pressure from rising oil prices and signs of a deteriorating labor market, with Richmond Fed President Tom Barkin warning that higher gas costs could dent consumer spending. Meanwhile, Philadelphia Fed President Anna Paulson said the war in Iran created new risks to inflation and growth. The Nasdaq 100 index has now entered correction territory, trading more than 10% off its January all-time high. The 10-year Treasury bond yield, which hit nearly 4.5% earlier Friday, fell all the way back to 3.91% after earlier rising to 4.03%.