MSTR, BMNR Stocks Defy Stock Market Slump – COIN Drops Despite Upgrade With 20% Upside

• Broader equity markets weakened following reports of renewed tensions near the Strait of Hormuz, which pushed Brent crude above $74 a barrel.
• Coinbase fell despite receiving a 'Buy' upgrade from U.S. Tiger, which cited improving Bitcoin fundamentals and a favorable risk-reward profile.
• Trump-backed American Bitcoin Corp. posted the steepest decline among crypto-linked stocks, falling more than 17%.

The largest corporate holders of Bitcoin (BTC) and Ethereum (ETH), Michael Saylor’s Strategy (MSTR) and Tom Lee-backed Bitmine Immersion Technologies (BMNR), defied the broader slump in markets in afternoon trade on Tuesday.

Both the leading cryptocurrencies traded in the green while the stock market dipped into the red following reports that Iran may have fired upon more than two commercial ships near the Strait of Hormuz and Brent crude oil prices rose to over $74 a barrel.

Bitcoin’s price edged 0.2% higher in the last 24 hours to just under $64,000, while MSTR’s stock price rose over 2% in afternoon trade. Ethereum’s price rose 0.6% to cross $1,800, pushing BMNR’s stock price higher by 0.5%. 

On Stockwits, retail sentiment around MSTR’s stock rose to ‘extremely bullish’ from ‘bullish’ territory over the past day, amid ‘normal’ levels of chatter. Sentiment around BMNR’s stock climbed higher within the ‘bullish’ zone and chatter pumped to ‘high’ from ‘normal’ levels. 

However, not all crypto stocks bucked the sell-off in which the SPDR S&P 500 ETF Trust (SPY) fell 0.3%, SPDR Dow Jones Industrial Average ETF (DIA) dropped 0.25% and the Nasdaq-100-tracking Invesco QQQ Trust Series 1 (QQQ) fell over 1%. 

Coinbase Slides Despite Analyst Upgrade

Coinbase (COIN) fell over 1.4% in afternoon trade despite receiving an upgrade to ‘Buy’ from ‘Hold’ from U.S. Tiger, as per the fly. Retail sentiment on Stocktwits also took a hit, dropping to ‘neutral’ from ‘bullish’ territory over the past day. 

U.S. Tiger set a price target of $200 on COIN’s stock, which represents a potential upside of over 20% from current levels. It said Bitcoin’s risk/reward ratio was reflecting a "more constructive view". 

The firm added that it believes the largest part of Bitcoin's cycle de-risking has already passed after a roughly 54% drawdown from the October 2025 cycle high. It stated that roughly three meaningful realized-loss capitulation waves had materially reset on-chain profitability.

Meanwhile, Trump-backed American Bitcoin Corp. (ABTC) took the biggest hit among crypto-linked stocks. ABTC’s shares slumped over 17% in afternoon trade, with retail sentiment on Stocktwits falling to ‘extremely bearish’ from ‘bearish’ territory over the past day.

Read also: A Crypto Trade Group Just Joined The Fight To Stop Someone From Claiming Satoshi-Linked Bitcoin

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