Strategy, SharpLink Gaming, and MARA Holdings are the remaining participants in the crypto stock category. Bitcoin By Tuesday morning, it was below $90,000.
As of this writing, Bitcoin is hovering between $90,000 and $91,000, after falling 2.5% from this point yesterday, according to crypto price aggregator CoinGecko. Bitcoin price fell to $89,929 on Tuesday, but has rebounded to $90,535 at the time of writing.
According to blockchain analytics platform Coinglass, Bitcoin trading volume increased by 14% in the past day to $68.6 billion.
Most U.S. institutions, including the New York Stock Exchange and Nasdaq, were closed Monday in observance of Martin Luther King Jr. Day. Cryptocurrency exchanges will never shut down, but with increased participation from institutional investors, trading activity may mimic that of traditional finance.
But traders are also dealing with the effects of President Donald Trump’s latest geopolitical saber rattling. The president has vowed to follow through “100%” on a deal that imposes tariffs on European countries that oppose his plans to take control of Greenland.
“While the immediate market reaction to the proposed Greenland tariffs is muted, the tariffs add to the expected persistent geopolitical uncertainty established over the past year,” Bitfinex analysts said. decryption.
Major U.S. stock indexes are down more than 1% through Tuesday, but the decline in top crypto stocks has been even steeper.
Shares of Bitcoin treasury giant Strategy, which just announced the purchase of $2.1 billion worth of Bitcoin, have fallen more than 6% since the opening bell in New York. MSTR, traded on the Nasdaq, was recently trading at $162.60 after falling to weekly lows below $160.
Meanwhile, Ethereum treasury firm Sharplink Gaming, whose shares trade on the Nasdaq under the ticker SBET, fell 7.8% to trade at $10.14. The company currently has about $2.4 billion worth of ETH in its treasury, which the CEO recently referred to as “permanent capital.”
“2025 was the year of DAT’s first accumulation. 2026 needs to be the year of productivity,” Sharplink CEO Joseph Chalom said last week on the FOMO Hour. decryption Our sister company, La Radio.
Additionally, Bitcoin miner MARA Holdings’ stock price fell 5.7%, trading at $10.70 at the time of writing. Late last year, the company signed a letter of intent with midstream energy infrastructure company MPLX to supply natural gas to its data center campus in West Texas. This includes the construction of new facilities.
Bitcoin miners like MARA tend to take a hit when BTC falls. Wintermute analysts said: decryption Bitcoin’s steep decline is alarming, but we are not convinced that it portends a free fall.
“[The setup]feels more like it’s coiling than collapsing, but we need a psychological level of $90,000 to provide adequate support here, or risk testing the mid-$80,000s again,” they wrote.
