MSTR, COIN, CRCL Stocks Dip: Crypto Equities Pull Back After Bitcoin's $82K Rejection

Ethereum outperformed Bitcoin over the past 24 hours, helping shares of ETH treasury company BitMine Immersion Technologies edge higher in premarket trading.

• Bitcoin traded around $78,700 on Monday, extending its retreat after climbing above $82,000 last week.
• Bitcoin’s dominance rate fell for a fifth straight day, while several altcoins posted sharp gains following Bitcoin’s August rally.
• Oil prices have climbed 9.5% this month, adding to inflation concerns and shifting expectations for the Federal Reserve’s September policy meeting.

Shares of crypto-linked large-cap stocks slipped in early trading Monday, tracking Bitcoin’s (BTC) retreat after the cryptocurrency climbed above $82,000 last week. 

Bitcoin’s price was trading around $78,700, down nearly 1% in the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘neutral’ territory over the past day.

Michael Saylor-backed Strategy (MSTR), Circle (CRCL) and Coinbase (COIN) dipped in pre-market trading following the correction. MSTR stock fell more than 2%, while CRCL and COIN shares dipped around 1.5%.

Robinhood Markets (HOOD) edged higher, continuing its recent decoupling from Bitcoin’s price action. BitMine Immersion Technologies (BMNR) also gained in pre-market trading, with Ethereum (ETH) outperforming Bitcoin. HOOD’s stock gained around 0.6%, while BMNR’s stock edged 0.7% higher.