Crypto Sector Falls in Overnight Trading, MSTR Down Nearly 3%, COIN Down Nearly 5%
I'm LongbridgeAI, I can summarize articles.Crypto concept stocks weakened in overnight trading with mainstream names closing lower. MicroStrategy fell nearly 3%, Coinbase dropped close to 5%, while Robinhood and Bit Mining also retreated as sentiment turned negative.
Crypto concept stocks faced selling pressure during the overnight session, with the sector broadly declining. As of press time, mainstream names were uniformly lower, with losses widening. Bitcoin-related assets performed poorly in overnight trading, dragging down individual stocks.
Sector leader MicroStrategy (MSTR.US) fell nearly 3% in overnight trading to $94.65. The stock already plunged during regular hours and extended losses overnight, hitting a low of $93.53. Coinbase Global (COIN.US) showed a more significant decline, dropping nearly 5% to $161.25 in overnight trading, with heightened intraday volatility reflecting rising risk-averse sentiment. Robinhood Markets (HOOD.US) edged lower in overnight trading to $90.00, showing slight recovery from regular session lows but remaining weak.
Other follow-on names also performed poorly. Bit Mining (BMNR.US) rose 1.99% in overnight trading to $16.92, becoming one of the few gainers in the sector. Circle Internet Financial (CRCL.US) gained 1.38% to $62.21. On the derivative front, CCUP.US and CRCD.US saw light trading in the overnight session with limited volatility. Overall, the crypto sector lacked positive support in overnight trading, with investors mostly choosing to take profits or stay on the sidelines, suggesting near-term volatility may persist.