Crypto Stocks Slide as Weekend Sell-Off in Bitcoin and Ether Weighs on Markets

Crypto-linked equities started the week on the defensive after a sharp Sunday night decline in digital assets erased much of Friday’s post-Powell rally.

MARA Holdings (MARA) and Circle (CRCL) were among the biggest decliners, each dropping about 6% in early trading. Bullish (BLSH) slid 5%, while Strategy (MSTR) lost 3%. Shares of Coinbase (COIN), eToro (ETOR), and Robinhood (HOOD) also traded lower, reflecting the broader risk-off sentiment across the sector.

The weakness tracked a retreat in crypto markets, with bitcoin (BTC) down roughly 4% and ether (ETH) off 5.5% over the past 24 hours, slipping from weekend highs.

Last Friday, digital assets had surged alongside stocks after Federal Reserve Chair Jerome Powell delivered dovish remarks, which investors interpreted as a sign that rate cuts could come as soon as September. But by Monday, those gains had largely evaporated as traders reassessed Powell’s tone and pared risk.

Broader equity benchmarks — the S&P 500, Nasdaq, and Dow Jones Industrial Average — were little changed on the session, as were gold prices and the yield on the 10-year U.S. Treasury.

“The crypto market is grappling with macro pressures: shifting Fed signals, dollar strength, and risk reduction,” said Joel Kruger, market strategist at LMAX. “While Powell hinted at rate cuts, the nuance and less dovish undertone left markets jittery.”

Attention now turns to Nvidia’s earnings report due Wednesday, which could serve as a key sentiment driver for tech and risk assets. Traders will also be watching Thursday’s GDP and jobless claims data and Friday’s core PCE release for further clarity on the Fed’s path.