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Crypto Stock Mixed Performance: Bitcoin Price Adjustment Triggers Sector Divergence
Source: BlockMedia Original Title: [크립토스톡] 가상자산 관련주 혼조…코인베이스·MSTR 조정, 페이팔·써클은 선방 Original Link: With the New York stock market hitting record highs, crypto asset-related stocks showed mixed performance amid Bitcoin price adjustments. Following Bitcoin’s failure to break through $95,000 and entering a consolidation phase, profit-taking and selective buying flows appeared simultaneously across related stocks.
As of the 6th (local time), the total market cap of global crypto asset-related stocks recorded approximately $1.9777 trillion according to CoinGecko data, with the sector index rising 4.76% on a daily basis. However, internally, fortunes diverged by sub-sector.
The ‘BTC Treasury’ sector with high Bitcoin holdings showed relative weakness, declining 3.75%. Coinbase (COIN) fell 1.71%, while MicroStrategy (MSTR) dropped 4.1%, directly impacted by Bitcoin price adjustments. Robinhood (HOOD) also closed down 1.25%.
In contrast, payment and stablecoin-related stocks showed relatively firm performance. PayPal (PYPL) rose 0.88%, while Circle (CRCL) maintained gains in neutral territory. This is interpreted as reflecting expectations for expanded stablecoin usage, with $1 billion worth of USDC recently issued on the Solana chain.
Mining stocks also experienced predominant adjustment pressure. Iren (IREN) fell 4.83%, while Cipher Mining (CIFR) and Bitmine (BMNR) showed declines around 3%. Conversely, Riot Platforms (RIOT) rose 1.28%, with bargain-hunting inflows appearing in some stocks. Riot recently disclosed selling 1,818 BTC in December, reducing holdings to 18,005 BTC.
By sector, exchanges (-1.27%), mining (-2.51%), and BTC Treasury (-3.75%) showed weakness, while crypto investment (+1.97%), stablecoins/payments (+0.67%), and other sectors (+3.73%) demonstrated relative strength. This indicates capital migration toward areas with structural growth expectations rather than stocks with direct exposure to Bitcoin volatility.
Individual news also drove stock volatility. Coinbase announced inclusion of MegaETH (MEGA) in its listing roadmap and previewed spot trading listings for Brevis (BREV). Bitwise received SEC approval for a Chainlink (LINK) spot ETF listing.
Market observers note that with Bitcoin failing to breach the $95,000 resistance in the short term and related stocks entering a consolidation phase, the adjustment magnitude could be limited given that the New York stock market is hitting record highs and risk-on sentiment persists. Analysis suggests that should Bitcoin re-establish direction, crypto asset-related stocks will likely see sector rotation across different segments.