Major crypto-related stocks fell sharply Friday, with some hitting their lowest prices in at least a month as markets reacted to continued uncertainty around the Iran war, and Bitcoin fell to its lowest price since March 2.
Bitcoin was recently trading at $65,804, down more than 4% on the day. It fell as low as $65,720 earlier Friday, which is the lowest price registered since March 2, the first business day after the United States and Israel began bombing Iran, as markets reacted to the surprise weekend assault.
Other major cryptocurrencies are similarly feeling the pain, with Ethereum down about 4% to $1,980, Solana falling 5% to under $83, and BNB dipping 3% to $608. Over $500 million worth of crypto positions have been liquidated in the last 24 hours, per data from CoinGlass, with nearly 90% of the carnage coming from long positions.
Strategy, the largest corporate holder of Bitcoin with approximately $50 billion in holdings, saw its stock (MSTR) fall more than 5% on the day as of this writing, recently trading below $126. It fell below $124 earlier Friday, marking its lowest price in more than a month.
The top Ethereum treasury firm, BitMine Immersion Technologies (BMNR), similarly hit a monthly low of $18.42 earlier Friday, and was recently trading just above that level at a more than 4% daily dip. (Disclosure: BitMine Chairman Tom Lee is an investor in Decrypt‘s parent company, Dastan.)
Crypto and stocks trading platform Robinhood (HOOD) also fell to a monthly low earlier Friday, trading just above $66. HOOD is now down more than 11% over the last month, with its six-month plunge now topping 50% as of this writing.
Stock market indices are broadly down again Friday, with the Nasdaq falling 1.5% as of this writing, with the S&P 500 and Dow both down just over 1% each. U.S. President Trump said Thursday after markets close that he would pause a planned assault on Iranian energy sites, but Israel then said it would “escalate” attacks on Iran following missile strikes against it.
Bitcoin traders have flipped increasingly bearish on the coin in the last couple days, with users on Myriad—a prediction market platform operated by Decrypt‘s parent company, Dastan—currently penciling in a 64% chance that Bitcoin’s next stop is $55,000 rather than $84,000. That sentiment was flipped as recently as early Thursday morning.
