Crypto Stocks Tumble, Led by Digital Asset Treasuries, as Bitcoin Falls to $84K

Crypto Stocks Slide as Bitcoin Dips Toward $84K Amid Rate-Hike Concerns

Crypto-related stocks opened December lower, following a decline in bitcoin toward $84,000 during U.S. morning trading.

Shares of leading exchanges fell nearly 6%, including Coinbase (COIN), Gemini (GEMI), and Galaxy Digital (GLXY). Crypto mining companies also took a hit, with MARA Holdings (MARA), Riot Platforms (RIOT), and Hive Digital (HIVE) declining 7%–9%.

Bitcoin treasury play Strategy (MSTR) dropped 11% to its lowest level since October 2024 after unveiling a $1.44 billion cash reserve and lowering its 2025 profit outlook. Other crypto treasury bets also retreated: Metaplanet (MTPLF) ADRs fell 10%, KindlyMD (NAKA) dropped 9.9%, and American Bitcoin (ABTC) declined 6.7%. Ether-focused BitMine (BMNR) and SharpLink Gaming (SBET) slumped more than 10%, while Solana-focused firms DeFi Development (DFDV) and Solana Company (HSDT) recorded double-digit losses.

Broader U.S. markets were weaker as well, with the Nasdaq down nearly 1% in early trading and the S&P 500 falling 0.3%.

The pullback coincided with renewed signals of potential interest-rate hikes from the Bank of Japan. Paul Howard, senior director at trading firm Wincent, noted, “The potential rate hike news from BoJ took many in the markets by surprise and led to a pulldown in risk assets generally overnight. Cryptocurrency continues to be the risk-on asset class and a bellwether of macroeconomic events 24/7.”