Digital-asset stocks retreat as spot market activity slows and Bitcoin breaks $84,000.

Crypto Exchange Stocks Fall as Bitcoin Slides Below $84K

Crypto exchange shares extended their January losses on Thursday as Bitcoin dropped 6% below $84,000, reinforcing cautious sentiment in the market. Coinbase (COIN), the largest publicly traded crypto firm, fell 7% on the day and is down 17% year-to-date, marking its eighth consecutive losing session—its longest streak since September 2024. The stock now sits at $195, levels last seen in May 2025.

Other exchanges also struggled. Gemini (GEMI) fell 8% Thursday and 21% year-to-date, while Bullish (BLSH) and Circle (CRCL) are down 16% and 20% in 2026. The selloff reflects both declining crypto prices and reduced spot trading volumes, which totaled $900 billion in January—roughly half the $1.7 trillion recorded a year ago, according to TheTie.

“Bitcoin has been stuck near $85,000, and investors are showing caution amid geopolitical tensions,” said Eric He, Community Angel Officer and Risk Control Adviser at LBank. “Crypto remains in a wait-and-see phase, even as stocks and commodities push higher.”

AI Pivot Keeps Some Firms Afloat

Some crypto firms have fared better by diversifying into AI. Bitcoin miners using computing and energy resources for AI workloads, including Hut 8 (HUT), IREN (IREN), CleanSpark (CLSK), and Cipher Mining (CIFR), are posting year-to-date gains.

Galaxy Digital (GLXY), led by Mike Novogratz, has also benefited from a shift into data centers, delivering strong performance in 2026 despite the broader market pullback.