Markets
What You Absolutely Should Know (But Probably Don’t Want To):
- Coinbase (COIN), Strategy (MSTR), Mara Holdings (MARA) and Metaplanet (TYO: 3350) all fell by more than 2-3% in pre-market trading, which pretty much mirrors the crypto market’s general meltdown. It’s like a digital apocalypse, but with more graphs.
- Forward Industries (FORD), which is Solana-focused (because why not?), dropped as much as 5%. Meanwhile, BitMine (BMNR), a company somehow obsessed with Ether, lost nearly 4%. Corporate balance sheets are not having a good day. Poor things.
- After last week’s somewhat happy dance, where the Fed cut rates by 0.25%, BTC and ETH decided to be rebellious teenagers, reversing sharply and triggering $500 million in ether liquidations. And just like that, someone’s net worth just got a lot smaller.
In case you’ve been living under a rock, crypto-related company stocks plunged in pre-market trading on Monday. Bitcoin and several altcoins experienced what can only be described as an emotional breakdown, sparking a massive $1.6 billion in liquidations across derivatives exchanges. Yes, billion with a B. It’s like watching a drama unfold, but with more digital wallets involved.
Coinbase (COIN) is down by a cool 3% in pre-market trading. Strategy (MSTR) slid by 2.3%, because apparently, strategy is overrated. Mara Holdings (MARA) and Metaplanet (TYO: 3350) also decided they didn’t want to be left out of the fun, losing more than 3% each. Everyone’s invited to this crash party.
The crypto treasury companies were not spared. Forward Industries (FORD) – the Solana enthusiast – sold off by 5% in pre-market trading. BitMine (BMNR), the ethereal ETH-focused entity, lost 3.9%. They didn’t even get a proper warning, just a swift plunge. Ouch.
The reason for this collective sorrow? A brutal weekly open for crypto markets during the Asian morning. BTC and Ether (ETH) are down 2.3% and 6.4% respectively. It’s like someone hit the pause button on the whole crypto scene, and altcoins are not taking it well, experiencing double-digit declines like it’s a sport.
This entire disaster is the result of a string of tokens losing their precious momentum after last week’s feel-good rally, which followed the Federal Reserve’s decision to cut interest rates by 25 basis points. Of course, the moment they make a move, the crypto market decides to do the opposite. Classic crypto.
The sudden reversal led to massive liquidations on crypto derivatives exchanges, with $500 million in ETH positions getting wiped out in the last 24 hours. It’s like a digital tidal wave, only with more zeros and less actual water. CoinGlass saw it all coming – too bad they didn’t have a lifeboat handy.
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2025-09-22 16:03