Crypto Stocks Fall as Bitcoin Approaches $84K Amid BoJ Rate-Hike Signals
Crypto-related stocks opened December lower as bitcoin slid toward $84,000 during U.S. morning trading.
Major exchanges including Coinbase (COIN), Gemini (GEMI), and Galaxy Digital (GLXY) fell nearly 6%, while crypto miners MARA Holdings (MARA), Riot Platforms (RIOT), and Hive Digital (HIVE) dropped 7%–9%.
Bitcoin treasury play Strategy (MSTR) tumbled 11% to its lowest level since October 2024 after unveiling a $1.44 billion cash reserve and cutting its 2025 profit outlook. Other crypto treasury stocks also declined: Metaplanet (MTPLF) ADRs fell 10%, KindlyMD (NAKA) lost 9.9%, and American Bitcoin (ABTC) dropped 6.7%. Ether-focused BitMine (BMNR) and SharpLink Gaming (SBET) fell more than 10%, while Solana-centric DeFi Development (DFDV) and Solana Company (HSDT) also suffered double-digit losses.
Broader markets were lower, with the Nasdaq down nearly 1% and the S&P 500 off 0.3% in early trading.
The sell-off coincided with renewed signals of potential interest-rate hikes from the Bank of Japan. Paul Howard, senior director at trading firm Wincent, said, “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.”
