American Bitcoin’s stock unraveled in real time Tuesday. 

The mining and Bitcoin-treasury company co-founded by Eric Trump saw its stock plunge more than 50% in the first hour of trading, triggering multiple halts and wiping out months of speculative gains. 

The company, listed on Nasdaq under the ticker ABTC, had already been reeling from Bitcoin’s steep pullback over the past month. 

But the speed of Tuesday’s sell-off stunned even veteran crypto-equity watchers. Shares collapsed to an intraday low of $1.75, a 51% drop, before stabilizing slightly. By time of writing, the stock is still down more than 35%.

No single headline set off the avalanche. But market…

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