Post-Rally Correction Hits Crypto Stocks, with Coinbase, Circle, Strategy, and MARA Leading Losses

Crypto Stocks Retreat as Weekend Sell-Off Hits Bitcoin, Ether

Shares of crypto-linked companies fell Monday as digital assets reversed their Friday surge, with traders locking in profits after a volatile weekend.

MARA Holdings (MARA) and Circle (CRCL) each dropped about 6% in early trading, while Bullish (BLSH) slid 5% and Strategy (MSTR) declined 3%. Coinbase (COIN), eToro (ETOR), and Robinhood (HOOD) also traded lower, reflecting renewed weakness across the sector.

The pullback came as bitcoin (BTC) slid roughly 4% in the past 24 hours to $109,666, while ether (ETH) dropped 5.5%, erasing gains from Friday’s rally sparked by Fed Chair Jerome Powell’s dovish remarks. Powell’s comments briefly lifted risk assets on expectations of a possible rate cut in September, but momentum faded as investors reassessed broader macro conditions.

“The crypto market is grappling with macro pressures: shifting Fed signals, dollar strength, and risk reduction,” said Joel Kruger, strategist at LMAX. “Powell’s tone hinted at easing, but without a strong dovish signal, markets remain cautious.”

U.S. stock benchmarks were flat Monday, with the S&P 500, Nasdaq and Dow little changed, alongside muted moves in gold and Treasury yields. Attention now turns to Nvidia’s earnings on Wednesday and key economic releases later in the week, including Thursday’s GDP and jobless claims and Friday’s core PCE data.