Crypto Crash: COIN, MSTR, and Miners in Chaos! 🚀💥

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On Nov. 18, Bitcoin 🚨💸 broke below $90k as risk appetite soured on rate-cut uncertainty, spilling into crypto-exposed equities. A crisis so profound, even the blockchain is questioning its life choices. 🧠

U.S. spot BTC ETFs experienced a mass exodus, with $1 billion vanishing in a week. The market’s bid was removed, leaving a void so deep, even the moon is questioning its existence. 🌕💸

Among the major crypto players, the miner stocks were hit the hardest. However, the companies that invest in cryptocurrencies were also affected. Here’s how major stocks reacted to the recent crypto bloodbath. Because nothing says “I’m stable” like a 7% drop. 😂

Coinbase and Microstrategy: Who Suffered Most

Major crypto exchange Coinbase (COIN) closed on Nov. 17 at $263.95, which represents a 7.06% drop. For those who thought crypto was a reliable investment, this is a gentle reminder that it’s more like a rollercoaster with a “no safety harness” sign. 🎢💸

COIN typically benefits from heightened volatility via volumes, but when crypto prices reset sharply, valuation compression can dominate. Like a magician who forgot the trick. 🎩🐇

Coinbase Shares Fall | Source: Google Finance 🤯💸

MicroStrategy / Strategy Inc. (MSTR) ended the day with $195.42 (2.17% drop), continuing its recent drawdown and tracking Bitcoin beta. However, Michael Saylor has reinstated his faith in Bitcoin, making yet another massive purchase of 8,178 BTC. Because nothing says “I’m confident” like buying more during a crash. 🧠💸

MSTR Shares Fall | Source: Google Finance 🤯💸

Big BTC Mining Stocks Trade Sideways

Despite being hit the hardest by the lower Bitcoin price, major mining stocks closed differently on Nov. 17. Like a group of people trying to agree on a movie. 🎬💸

Group moves hinge on hashprice (BTC price multiplied by network difficulty vs. power costs). Firms with lower-cost power or diversified compute (AI and/or HPC) can diverge, helping explain Monday’s mixed closes:

  • Marathon Digital (MARA): $11.51, −4%. For those who thought mining was a sure thing, this is a reminder that even gold can lose its shine. 🏴‍☠️💸
  • Riot Platforms (RIOT): $13.88, -0.5%. A drop so slight, it’s like a whisper in a hurricane. 🌬️💸
  • CleanSpark (CLSK): $10.61, −3.19%. Because nothing says “I’m resilient” like a 3% dip. 🧘‍♂️💸
  • Hut 8 (HUT): $37.7, +2%, bucking the group’s weakness. Like a stubborn donkey refusing to fall. 🐴💸

IREN (IREN): $47.41, +1.04%, another notable gainer on the day. Because apparently, some stocks are still trying to find their purpose. 🧭💸

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2025-11-18 19:07