The post COIN, MSTR Stock Prices Drop 6% and 7% Pre Market appeared on BitcoinEthereumNews.com.

Crypto stocks crashed in the pre-market session as Bitcoin and most altcoins plunged, leading to a $1.4 billion liquidation. Coinbase (COIN) crashed by 6%, while Strategy (MSTR) stock, formerly Microstrategy, was down by 7%, meaning that they have fallen by 40% and 51% from their 2024 highs. What’s causing crypto stocks to collapse so severely? Let’s explore. COIN and MSTR Stock Price Fall in the Pre-Market Most crypto stocks, including Bitcoin miners, dropped in the premarket session after Bitcoin and most altcoins crashed. Bitcoin price dropped to $88,000, while Ethereum slipped to below $2,400. The market cap of all cryptocurrencies tracked by CoinMarkeCap dropped by almost 10% and moved below $3 trillion. These stocks also retreated as part of the ongoing sell-off in American equities. Futures tied to the S&P 500 index retreated by 10 points, while those linked to the Dow Jones and Nasdaq 100 indices fell by 0.10% and 0.36%. Coinbase and MicroStrategy are highly exposed to the crypto industry. COIN is the biggest crypto exchange in the US and the seventh-biggest Bitcoin holder with 9,480 coins. Therefore, the falling crypto prices mean that its transaction volume will continue falling. Data shows that the volume of crypto traded in January was lower than that in December, and this month may worse. CEX Monthly Volume MicroStrategy is the biggest Bitcoin holder. It revealed that it bought 20,356 more Bitcoins in a nearly $2 billion deal. It now holds 478,740 coins valued at $42 billion and Michael Saylor has hinted the acquisition will continue.  Bitcoin Price to Determine Fate of Coinbase and MicroStrategy Stocks The performance of the COIN and MSTR stock price will depend on whether Bitcoin bounces back and retests its all-time high.  The daily chart points that the Bitcoin price has more downside in the near term.…

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Filed under: News - @ February 25, 2025 8:20 pm