Cryptocurrency-linked stocks tumbled on Monday as an extended sell-off in digital assets rippled through equity markets. Pre-market trading saw sharp declines across major crypto-adjacent companies, with losses accelerating amid renewed investor fears.
MicroStrategy (MSTR) and Coinbase (COIN) both fell more than 5% before the market opened. Bitcoin mining firms MARA Holdings (MARA), Riot Platforms (RIOT), Core Scientific (CORZ), and CleanSpark (CLSK) also traded lower, each dropping at least 2.5%. The sell-off came as Bitcoin plunged to $80,226, dragging down the broader crypto sector.
Coinbase and MicroStrategy Face Steep Losses
Coinbase’s stock sank below $205 in pre-market trading, exacerbating the company’s struggles. The crypto exchange operator failed to secure a spot on the S&P 500 following the index’s latest rebalancing, dealing a further blow to investor confidence. Coinbase shares, which had closed at $217.45 on Friday, lost 5.49% in pre-market activity, falling to $205.52.
MicroStrategy, a publicly traded company known for its aggressive Bitcoin accumulation strategy, suffered even steeper losses. The stock plunged 5.79% in pre-market trading, dropping to $270.55 after closing at $287.18 the previous session. The company’s Bitcoin-heavy balance sheet makes it particularly vulnerable to fluctuations in the cryptocurrency market.
Bitcoin Miners Struggle Amid Broader Market Weakness
Bitcoin mining stocks also saw red across the board. MARA Holdings declined 5.24% in pre-market trading, falling to $15.18 after closing at $16.02. Riot Platforms slipped to $7.93, marking a 5.26% decline from its prior close of $8.37. Core Scientific dropped 2.57% to $7.58, while CleanSpark tumbled 4.30% to $8.45.
The weakness in mining stocks reflects broader concerns about profitability as Bitcoin’s price struggles to maintain upward momentum. With market conditions deteriorating, companies reliant on mining operations are seeing increased pressure on their margins.
Market Sentiment Deteriorates as Crypto Fear Index Hits Multiyear Low
Investor sentiment has reached new lows, with the crypto fear and greed index plummeting to 17—classified as “extreme fear.” The index, which gauges market sentiment based on volatility, momentum, and other factors, signals that investors are becoming increasingly risk-averse.
The latest sell-off coincides with mounting macroeconomic uncertainty. The potential for renewed tariffs under a Trump administration has injected further volatility into risk assets, including cryptocurrencies and crypto-linked equities. Market analysts have pointed to regulatory uncertainty and broader economic headwinds as key drivers behind the downturn.
With Bitcoin and leading altcoins posting sharp declines, the path forward for crypto stocks remains uncertain. Investors are now watching for signs of stabilization or further downside pressure in the days ahead.
