Crypto-adjacent stocks slipped to start the week as risk appetite cooled and unprofitable tech names moved lower. Goldman Sachs’ basket of bitcoin-sensitive names, heavily tilted toward Coinbase $COIN ( ▼ 0.02% ) , MARA Holdings $MARA ( ▲ 6.78% ) , and MicroStrategy $MSTR ( ▲ 2.01% ) , fell more than 3 percent early. The drop followed another overnight slide in bitcoin $BTC ( ▼ 0.3% ) , although the coin steadied once US trading opened.
Robinhood $HOOD ( ▼ 0.86% ) also traded lower, continuing its tendency to loosely track crypto sentiment.
No one can say exactly what triggered the downdraft, but S&P’s recent warning about the vulnerability of Tether’s $USDT.X ( ▲ 0.01% ) during bitcoin’s decline may be weighing on the broader crypto-linked group.think their playbook, and even aging nuclear plants are getting a second look.