Bitcoin $BTC ( ▼ 0.81% ) is back under pressure, and the ripple effect is hitting crypto-linked equities. After briefly surging late last week, the cryptocurrency slid back below the $70,000 level, dragging down shares of companies closely tied to the digital asset ecosystem in premarket trading.
Names like Strategy $MSTR ( ▲ 1.44% ) , MARA Holdings $MARA ( ▼ 1.15% ) , Riot Platforms $RIOT ( ▲ 4.15% ) , and Coinbase $COIN ( ▲ 0.55% ) were all lower as traders reacted to the renewed downturn.
From Big Bounce to Fast Retreat
The move comes just days after Bitcoin logged its biggest daily gain since March 2023, jumping more than 11% on Friday. Prices edged higher over the weekend before momentum reversed sharply overnight, with selling pressure carrying into the start of the new week.
That kind of whiplash highlights how fragile sentiment remains in the crypto market, where sharp rallies can quickly give way to equally sharp pullbacks.
Volatility Gap Widens
Crypto’s mood swings are also showing up in volatility metrics. Short-term price swings for the iShares Bitcoin Trust $IBIT ( ▲ 1.63% ) have recently run far hotter than those of the broader stock market, with its 20-day realized volatility significantly outpacing that of the SPDR S&P 500 ETF $SPY.
That gap has widened to levels not seen in months, underscoring how much more turbulent crypto trading has become compared with traditional equities.
For investors, the message is familiar: when Bitcoin sneezes, crypto-adjacent stocks tend to catch a cold.