MSTR, BMNR, COIN, CRCL Stocks Slide After Bitcoin Falls Below $63K

Crypto-linked stocks often move in tandem with Bitcoin, particularly companies whose business models or balance sheets have significant exposure to digital assets.

Strategy is the largest corporate holder of Bitcoin, and its shares have become a closely watched proxy for the cryptocurrency's price. Circle's business is tied to the broader USDC stablecoin and digital asset ecosystem, while Coinbase remains heavily exposed to cryptocurrency trading activity.

Bitmine, meanwhile, is the largest corporate treasury with Ethereum (ETH) on its balance sheet, while Robinhood generates a portion of its revenue from cryptocurrency transactions despite efforts to diversify into other financial products.

Why Is Bitcoin’s Price Falling?

One factor weighing on crypto sentiment Friday was a delay in a closely watched Securities and Exchange Commission (SEC) regulatory initiative.

The SEC had been expected to discuss its first major digital asset rulemaking effort, known as “Regulation Crypto,” at a meeting on Friday. However, the agency canceled the meeting in a statement late Thursday, saying it was moved to “a later date” due to “an unforeseen scheduling issue.”

Oil Prices Add To Risk-Off Pressure

The crypto selloff also came amid weakness across broader risk assets and a rebound in oil prices. West Texas Intermediate (WTI) crude rebounded Friday following two consecutive sessions of declines, climbing above $82 a barrel and adding to inflation concerns that weighed on risk assets.

The United States Oil Fund (USO) edged 0.45% higher in morning trade, with retail sentiment trending in ‘bullish’ territory over the past day.

After markets closed Thursday, Treasury Secretary Scott Bessent said the U.S. would apply economic measures against Iran “that have never been seen on Iran.”

Meanwhile, U.S. Defense Secretary Pete Hegseth reportedly said Thursday that the U.S. military could maintain its naval blockade of Iran “indefinitely,” with ships rotating in and out of the region.