Bitcoin, Ether, Solana Treasuries Lead Crypto Stock Slump; NAKA, MTPLF, HSDT Slide Over 10%
Crypto stocks, especially those holding digital assets like Bitcoin, Ether, and Solana, experienced a significant sell-off as Bitcoin dropped toward $84K.Summary
Crypto-related stocks began December with a sharp decline, mirroring Bitcoin's fall toward $84,000. Shares of major exchanges like Coinbase, Gemini, and Galaxy Digital fell nearly 6%, while mining stocks also dropped between 7% and 9%.
Bitcoin treasury play MicroStrategy (MSTR) was hit particularly hard, sliding 11% to its lowest since October 2024 after cutting its 2025 profit outlook. Other corporate holders of BTC, such as Metaplanet (MTPLF), and Ether/Solana-focused companies like BitMine and Solana Company (HSDT), also saw double-digit percentage losses.
The sector-wide pullback occurred as broader markets dipped slightly, attributed by analysts to surprise signals of interest-rate hikes from the Bank of Japan, reinforcing cryptocurrency's status as a risk-on asset sensitive to macro events.
(Source：CoinDesk)