- Bitcoin’s price pared gains on Tuesday morning and was trading around $66,500 after nearly touching $70,000 in the last 24 hours.
- Circle’s share price fell more than 6% in pre-market trade, while Robinhood’s stock took a tumble of around 5.8%.
- Crypto DATS like Strategy and Bitmine also drifted lower in early morning trade alongside Bitcoin miners, despite many pivoting to AI-HPC workloads recently.
Circle (CRCL), Robinhood (HOOD) and Coinbase (COIN) led the pre-market drop among crypto-linked equities on Tuesday after Bitcoin’s (BTC) price dropped back under $67,000 and the stock market shot lower in early morning trade.
The SPDR S&P 500 ETF Trust (SPY) was down 1.83% in early morning trade, while the Invesco QQQ Trust Series 1 (QQQ) fell as much as 2.33% on fears of the widening conflict between U.S. and Iranian forces. Both were among the top trending on Stocktwits before market open.
Meanwhile, Bitcoin’s price pared gains and fell to around $66,500 on Tuesday morning after nearly touching $70,000 in the last 24 hours, still holding onto a gain of 0.3%. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bullish’ territory over the past day.
Crypto Stocks Under Pressure
CRCL’s stock fell over 6% in pre-market trade, after clocking a gain of over 15% on Monday and hitting a three-month high. On Stocktwits, retail sentiment around the USDC stablecoin issuer remained in ‘extremely bullish’ territory over the past day while chatter stayed at ‘extremely high’ levels.
Meanwhile, HOOD’s stock took a tumble of 5.8% in pre-market trade. It is currently among the top losers in the S&P 500 for the year. Retail sentiment around the financial platform remained in ‘bearish’ territory over the past day amid ‘extremely low’ levels of chatter.
Shares of digital asset treasuries (DATs) were also in the red during pre-market trade. Bitmine Immersion Technologies (BMNR) dropped more than 5% while Michael Saylor’s Strategy (MSTR) was down around 4.5%.
Bitcoin Miners Join Selloff Despite AI-HPC Pivot
Among crypto miners, MARA Holdings (MARA) fell over 5% and Riot Platforms (RIOT), which reported earnings after hours on Monday, fell around 4.6% in early morning trade.
Core Scientific (CORZ), among the many Bitcoin miners that to have pivoted to AI-HPC workloads in recent months, dipped 3.88% pre-market. The company missed fourth quarter (Q4) earnings and announced that it had sold nearly 2,000 Bitcoin from its treasury recently, leaving it will around 600 BTC on the balance sheets.
The overall cryptocurrency market dropped back below $2.4 trillion. CoinGlass data showed nearly $400 million of crypto trades has been wiped out over the last 24 hours, with a near even split between long and short bets.
Tuesday was the fourth day of the U.S. war against Iran. Joint U.S.-Israeli military strikes killed Supreme Leader Ayatollah Ali Khamenei over the weekend. U.S. President Donald Trump said he expects the war to last four to five weeks, but that it could go on “far longer than that.”
Read also: Bitcoin Rebounds Toward $70K After US-Iran Clash – ‘Sign Of Life,’ Says VanEck CEO
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