U.S.-listed bitcoin mining and crypto-focused stocks, including Marathon Digital Holdings Inc. (MARA), sold off heavily in the last trading session of the year, with MARA's stock declining by 15.5%. The sell-off, which saw Bitcoin slipping below $41,880, was part of a broader downturn in the crypto market, with stocks such as HUT, COIN, and RIOT also experiencing losses. The downturn followed a significant end-of-year surge in the cryptocurrency market and was attributed to profit-taking. Despite the negative trend, MARA lost more money at each subsequent peak in Bitcoin. Updated stock performance numbers show BILI up by 8.59%, LI up by 4%, JD up by 4.29%, with CLSK down by 4.5%, and COIN down by 1.24%. Additionally, options volume leaders for the day, excluding the 'Mag-7', included AMD, NIO, SOFI, BABA, PLTR, FSR, PYPL, AFRM, and BAC, with MARA experiencing the most bullish option flow, often used as a proxy for Bitcoin.
Crypto stocks moving lower today after big EOY surge: $HUT -16% $COIN -6% $MARA -15.5% $RIOT -11.6% #Bitcoin -0.96% to $42,084
Crypto stocks moving lower today after big EOY surge: $HUT -18% $COIN -6.2% $MARA -15.5% $RIOT -13% #Bitcoin -1.4% to $41,880
Most bullish option flow of the day over in tradfi land is MARA, which is often used as a proxy for BTC Despite this, it's down 15%. Riot -14%, Coinbase -7%. The apes are slamming options on BTC proxies for higher beta lmao https://t.co/JYMSO6JbJC
Options Volume Leaders Today (Excluding Mag-7) $MARA $AMD $COIN $RIOT $NIO $SOFI $BABA $PLTR $FSR $PYPL $AFRM $BAC More call volume than put volume in all of these names excluding Affirm — however, based on price action, a good portion of that call volume is likely selling.
Crypto profit taking continues today after big EOY surge: $HUT -18% $COIN -6.2% $MARA -15.5% $RIOT -13% #Bitcoin -1.4% to $41,880
Man #bitcoin & Miners continue to remain weak.. probably wait till next year to take my shots 😂 $MARA $CLSK $RIOT
U.S.-listed #bitcoin mining and crypto-focused stocks sold off heavily Friday as profit-taking set in during the last trading session in the year with $BTC slipping below $42,000. @sndr_krisztian reports $MARA $RIOT $COIN https://t.co/la5Y1UevZP
Updated numbers: $BILI: 🟢+8.59% $LI: 🟢 +4% $JD: 🟢 +4.29% $MARA: 🔴-6.82 $HUT 🔴-10.84% $CLSK 🔴 -4.5% $COIN 🔴-1.24% https://t.co/R08mlvuP6c
Maybe times have changed or maybe I'm just grumpy, but $MARA lost more money at each subsequent peak in $BTC I know fundamentals don't matter in a FOMO fever but caveat emptor applies. https://t.co/4WvtzO40MD https://t.co/Py38vrwGNF