Shares of several prominent cryptocurrency-related companies, including Strategy, SharpLink Gaming, and MARA Holdings, have experienced significant declines as Bitcoin struggles to maintain its value, fluctuating around the $90,000 mark. According to data from crypto price aggregator CoinGecko, Bitcoin fell by 2.5% over the past 24 hours, trading as low as $89,929 before recovering slightly to around $90,535.
Despite the downturn, trading volume has increased by 14%, reaching approximately $68.6 billion, indicating heightened market activity as investors return from the Martin Luther King Jr. Day holiday. While traditional U.S. stock markets were closed for the holiday, the continuous operation of cryptocurrency exchanges has seen trading patterns influenced by institutional participation.
Adding to the market’s volatility, geopolitical tensions have emerged following President Donald Trump’s threats to impose tariffs on European nations that oppose his ambition to control Greenland. Bitfinex analysts noted that while the immediate market reaction to Trump’s tariff threats was subdued, it contributes to an ongoing atmosphere of uncertainty that has characterized the global market for much of the past year.
As a result of the market dynamics, major U.S. stock indices have reported drops of over 1%, with cryptocurrency stocks faring worse. Strategy, a Bitcoin treasury firm that recently announced the acquisition of $2.1 billion in Bitcoin, saw its shares decline by more than 6%. Currently, trading on the Nasdaq, its shares are hovering around $162.60, having recently dipped below $160.
SharpLink Gaming, also linked to Ethereum through its treasury holdings, witnessed its shares fall 7.8%, trading at $10.14. The company maintains approximately $2.4 billion worth of Ethereum, which CEO Joseph Chalom has referred to as “permanent capital.” Chalom emphasized the importance of 2026 as a year for productivity following the initial accumulation phase in 2025.
Bitcoin miner MARA Holdings similarly felt the pressure, with its shares dropping 5.7% to $10.70. The company signed a letter of intent with MPLX to supply natural gas to its West Texas data center facilities, an effort to bolster its operational capacity.
Market analysts have expressed concerns over Bitcoin’s price trajectory, with some suggesting that a critical support level is at $90,000. Without adequate support at this level, Bitcoin could risk declining into the mid-$80,000 range, according to Wintermute analysts. They noted that the current setup in the market feels more like a coiling period rather than a complete breakdown, hinting at potential volatility ahead.
In the broader context, as cryptocurrency markets continue to navigate external pressures and internal dynamics, investors remain vigilant in response to economic, geopolitical, and trading signals affecting the industry.
