MARA Stock: Shares Fall As Bitcoin Drops Below $77,000, Short Squeeze Setup In Focus

MARA Holdings (NASDAQ: MARA) stock declined Thursday alongside falling digital asset prices and broader market weakness, with the Nasdaq down 1.14% and the S&P 500 shedding 0.54%. 

Bitcoin fell 2% to $77,000 as Brent crude climbed past $102 a barrel and crude oil topped $97, hitting May-level highs amid the ongoing US-Iran conflict. Iran signaled readiness for escalation, while President Trump predicted the war would extend past the November midterm elections.

A Company Betting Big on a Short Squeeze

Thursday’s pullback follows a very different session just two days earlier. MARA stock jumped 4.60% to $11.83 on Tuesday even as Bitcoin itself slipped about 0.9%, a divergence that traders have flagged as significant. 

According to one technical analysis, roughly 26.3% of MARA’s outstanding shares are currently sold short, with some estimates putting short interest at 42% of the floating stock. A wave of forced short covering hit the stock last Friday, though most short positions reportedly remain open.

The same analysis pointed to MARA reclaiming a technical level near $10.88, alongside the previous quarter’s value area low, without a major rejection, a setup seen as opening the door toward $13.50-$14.25 if the breakout holds.