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Strategy Tumbles to 4-Month Low as Crypto Stocks, Digital Asset Treasuries Sink
Galaxy, SharpLink, BitMine were among the names that plunged nearly 10% as risk appetite faded and bitcoin sunk to $113,000.
Aug 19, 2025, 9:07 p.m.
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What to know:
- Crypto-related stocks fell sharply on Tuesday as markets turned risk-off with BTC dropping to $113,000.
- MSTR fell 7.8%, while some ETH and SOL-focused digital asset treasuries suffered deeper drawdowns.
- Investors are cautious ahead of Federal Reserve Chair Jerome Powell's upcoming speech.
Crypto-related stocks tumbled on Tuesday in a broad-market crypto slide that brought bitcoin down to $113,000.
Strategy (MSTR), the largest corporate owner of BTC, closed the session 7.8% down at $336, at its weakest price since April 22.
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Ethereum treasury firms SharpLink Gaming (SBET) and BitMine (BMNR) lost 8%-9%, while Solana-focused accumulators DeFi Development (DFDV) and Upexi (UPXI) plunged 13.7% and 9%, respectively.
Digital asset investment firm Galaxy (GLXY) slid 10%, while Robinhood (HOOD) sank 6.5% and Coinbase (COIN) fell 5.8%. BTC miner MARA Holdings (MARA) declined nearly 6%, while some high-flying HPC names like Bitdeer (BTDR), IREN (IREN) and Hut 8 (HUT) plummeted nearly 10%.
Risk appetite quickly evaporated this week as traders anticipate Fed Chair Jerome Powell's Friday speech at Jackson Hole, Wyoming.
Read more: Bitcoin Drops Below $114K, Ether Loses $4.2K as Jackson Hole Speech Might Bring Hawkish Surprise
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