Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued.

Bitcoin slid 5.6% after being down nearly 12% earlier in the day, settling in just above $85,000. The most-traded cryptocurrency is down about 33% since hitting a record $126,210.50 on Oct. 6, according to crypto trading platform Coinbase. Bitcoin had soared since April in line with the stock market and driven partly by a more crypto-friendly tone in Washington.

Companies that enable investors to buy and sell cryptocurrencies, as well as the growing number of companies who have made investing in bitcoin their main business focus, were hammered in Monday’s sell-off.

Coinbase Global fell 4.8% and online tradin

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