Simply put
- Shares of Strategy, Sharplink Gaming, MARA Holdings, and other leading crypto stocks declined as Bitcoin lingered around the $90,000 mark.
- Bitcoin dropped by 2.5% in the last 24 hours, yet its trading volume surged by 14% to $68.6 billion following the holiday.
- President Trump’s potential tariffs on European nations concerning Greenland have added to market anxiety and geopolitical strife.
Strategy, SharpLink Gaming, and MARA Holdings represent the remaining players in the crypto stock scene. By Tuesday morning, Bitcoin had dipped below $90,000.
At the moment, Bitcoin is fluctuating between $90,000 and $91,000, having slipped 2.5% since a bit earlier, according to data from CoinGecko. It touched $89,929 on Tuesday but rebounded to $90,535 as of this update.
Bitcoin’s trading volume spiked by 14% over the past day to reach $68.6 billion, according to Coinglass.
Most U.S. institutions, including the New York Stock Exchange and Nasdaq, were shuttered on Monday in observance of Martin Luther King Jr. Day. While cryptocurrency exchanges remain operational, the influx of institutional investors suggests that trading dynamics could be somewhat akin to traditional markets.
Traders are also navigating the fallout from President Donald Trump’s latest geopolitical threats. He has pledged to follow through “100%” on a plan to impose tariffs on European countries that resist his Greenland takeover ambitions.
“The immediate market reaction to the proposed Greenland tariffs might be subdued, but the step adds to the ongoing geopolitical uncertainty we’ve seen throughout the past year,” analysts from Bitfinex noted.
Major U.S. stock indexes have dropped by more than 1% as of Tuesday, with declines in top crypto stocks being noticeably sharper.
Shares of Strategy, which just revealed the purchase of $2.1 billion in Bitcoin, have declined over 6% since the opening in New York. The Nasdaq-listed company recently traded at $162.60, down from weekly lows beneath $160.
Meanwhile, Ethereum-focused Sharplink Gaming is monitoring its stock performance, which trades on Nasdaq. The ticker has dropped 7.8%, trading at $10.14. Sharplink currently holds approximately $2.4 billion in ETH, which the CEO has called “permanent capital.”
“2025 was when we first accumulated DAT. I believe 2026 needs to focus on productivity,” stated Sharplink CEO Joseph Chalom during a recent interview.
Additionally, MARA Holdings, a Bitcoin mining firm, saw its stock decrease by 5.7%, trading at $10.70 during this report. Late last year, MARA signed an agreement with MPLX to supply natural gas to its West Texas data center.
Bitcoin miners like MARA often feel the pinch when BTC prices drop. Analysts at Wintermute expressed some concern about Bitcoin’s significant decline but noted it’s too early to say it signals a complete downturn.
“The current situation feels somewhat shaky but not completely broken. We really need the psychological support level at $90,000; otherwise, we might see it test the mid-$80,000s,” they explained.
