Strategy, BitMine and Robinhood Shares Hit Monthly Lows as Bitcoin Sinks Further
Major crypto-related stocks and cryptocurrencies saw sharp declines Friday amid escalating geopolitical tensions involving Iran, with Bitcoin dropping over 4% to $65,804—its lowest level since March 2. Ethereum fell about 4% to $1,980, Solana dropped 5% below $83, and BNB decreased 3% to $608. Over $500 million in crypto positions were liquidated in the past 24 hours, predominantly from long positions. MicroStrategy, the largest corporate Bitcoin holder, saw its stock fall over 5% below $126, reaching a monthly low. BitMine Immersion Technologies (BMNR) hit a similar monthly low at $18.42, with a daily dip of over 4%. Robinhood's stock also hit a monthly low, trading just above $66, marking an 11% decline over the past month and a 50% drop over six months. Broader stock markets were down, with the Nasdaq, S&P 500, and Dow slipping over 1%. Market sentiment has turned bearish, with prediction markets now giving a 64% chance that Bitcoin’s next move is down to $55,000 rather than up to $84,000.
