MSTR, COIN, CRCL Stocks Slide With Bitcoin Below $84K Ahead Of Trump-Xi Meeting

Michael Saylor-backed Strategy led the decline among major crypto-linked stocks, while Coinbase and BitMine each fell more than 2%.

• The 10-year Treasury yield closed Wednesday at 5.11% before climbing back above 5%, its highest levels since July 2007.
• XRP led losses among major cryptocurrencies, while Solana and Ethereum also traded lower.
• Investors are watching the Trump-Xi summit in Washington, with trade, technology and Iran among the issues in focus.

Crypto-linked large-cap stocks including Strategy (MSTR), Coinbase (COIN) and Circle (CRCL) traded lower pre-market on Thursday as Bitcoin (BTC) continued to slide, dipping below $84,000 in the last 24 hours. 

The sell-off comes ahead of the meeting between President Donald Trump and Chinese President Xi Jinping on Thursday afternoon and continued uncertainty around the US-Iran war.

Strategy, the Michael Saylor-backed Bitcoin treasury company, led losses among the group, with MSTR stock down more than 3% in premarket trade. On Stocktwits, retail sentiment around the company continued to trend in ‘bullish’ territory over the past day. 

COIN stock and Ethereum treasury company BitMine Immersion Technologies (BMNR) each fell more than 2%, while USDC stablecoin issuer CRCL fell about 1.6%.