- Bitcoin dropped below $67,000, falling nearly 5% over the past 24 hours and weighing on crypto-linked equities.
- Coinbase led declines among the cohort with COIN’s stock dropping nearly 7% in morning trade.
- Robinhood, Strategy, Circle, and Bitcoin miners were also in the red amid the market uncertainty.
Gemini Space Station (GEMI) hit a record low at market open on Friday morning amid crypto-linked equities taking a tumble after Bitcoin (BTC) slumped below $67,000.
The broader selloff weighed on major names across the sector, with Coinbase (COIN), Robinhood (HOOD), Strategy (MSTR), and Circle Internet Group (CRCL) all trading sharply lower.
Bitcoin’s price fell nearly 5% in the last 24 hours to around $66,400. On Stocktwits, retail sentiment around the apex cryptocurrency dropped to ‘extremely bearish’ from ‘bearish’ territory over the past day, accompanied by chatter at ‘low’ levels.
The overall cryptocurrency market tumbled below $2.4 trillion and recorded over $450 million in liquidations. Bitcoin is on track of to record a rare six-month losing streak, while S&P 500 is headed for a fifth losing week in a row, dragging on crypto-linked equities.
GEMI Stock Hits Record Low
Gemini Space Station (GEMI), the cryptocurrency exchange led by the Winklevoss twins, fell more than 5% hit a record low of $4.38 extending its six-day losing streak. Retail sentiment around GEMI’s shares on Stocktwits trended in ‘bearish’ territory over the past day, while chatter fell to ‘low’ from ‘high’ levels.
The company has also recently been sued by shareholders on allegations that the Gemini made false and misleading statements in marketing documents for its initial public offering in September last year. The stock is down 88% since its debut.
Large Cap Crypto Equities Tumble Amid Bitcoin’s Slide
Coinbase was the worst hit among the crypto-linked large cap stocks. COIN’s stock fell nearly 7% in morning trade on Friday, hitting a one-month low of $161. Retail sentiment on Stocktwits around the Brian Armstrong-led company trended in ‘bearish’ territory over the past day, with chatter at ‘high’ levels.
One user on the platform commented that COIN's stock could fall even lower if the CLARITY Act does not get finalized soon.
Meanwhile, HOOD’s stock was down over 5% in morning trade, while MSTR’s stock tumbled over 6%. Retail sentiment around HOOD remained in ‘bullish’ territory over the past day, but sentiment around MSTR remained in the ‘bearish’ zone.
One user commented that as long as Robinhood’s narrative is tied to Bitcoin, it will continue to trade like a crypto-linked equity despite diversifying its revenue streams. HOOD’s stock is currently trading at lows last seen in June 2025.
Shares of Bitcoin miners like Riot Platforms (RIOT) and MARA Holdings (MARA) were also in the red, down by around 6% each. Stablecoin issuer Circle (CRCL) fell around 4.5%, and Ethereum (ETH)-backed digital asset treasury (DAT) Bitmine Immersion Technologies (BMNR) was down around 3%.
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