Well, shucks, folks! It seems like the crypto market has gone plumb crazy! In the pre-market trading session on Monday, those fancy crypto stocks like MicroStrategy (MSTR), Coinbase (COIN), and Marathon Digital (MARA) have taken a great big tumble ā a whoppinā 5% drop, to be exact!
And donāt even get me started on the tech-heavy Nasdaq 100, which has tanked a whopping 3.54% ā thatās a whole lotta cluckinā money, if you ask me!
Crypto Stocks Get a Good Scoldinā from Nasdaq 100 Crash
As of press time, the Nasdaq 100 futures are down 3.54% or 770 points, sendinā shockwaves across the globe like a wild mustang on the loose! And Bitcoin price? Well, itās lost its crucial support at $100K levels, causinā a right olā spillover effect with a broader market correction. Top crypto stocks like MSTR, COIN, MARA, and others are facinā the heat of this correction like a bunch of chickens in a hail storm!
MicroStrategy (MSTR) Takes a 4.95% Tumble
In the pre-market trading session on Monday, MicroStrategy share price has extended losses like a cowboy lassoinā a steer! MSTR stock is down by 4.95%, slippinā under $350 levels like a snake slippinā through the grass!
Although the stock price has been as volatile as a wildcat in a sack, the firm has continued with its Bitcoin acquisition strategy like a dog with a bone!
And whatās this? MicroStrategy executive chairman Michael Saylor is hintinā at further purchases like a sly fox in a henhouse! āVolatility is a gift to the faithful,ā Saylor wrote on X, like a wise old owl perched in a tree!
Keepinā in tradition from its past weeksā announcements, thereās a possibility that MicroStrategy might announce fresh purchases in todayās dip like a fisherman reelinā in a big catch!
COIN Stock Loses 6%, MARA Joins the Crypto Stocks Crash
The COIN stock price also tanked like a ship in a storm! Itās down by 6% in the pre-market trading session, droppinā to $280 like a hot potato!
The Donald Trump victory has favored a strong rally for Coinbase like a horse racinā to the finish line!
But since then, the COIN share price has been as volatile as a teenagerās mood swings!
Similarly, Bitcoin miner Marathon Digital (MARA) is another crypto stock losinā 5.5% like a gambler losinā his shirt in a poker game!
DeepSeek Fears Take Wall Street on a Wild Ride
Chinaās AI Startup DeepSeek has emerged like a phoenix from the ashes! Itās the most downloaded app on the Apple Store during the past weekend, like a best-sellinā novel on the shelves!
Its growinā popularity is challenginā multi-billion dollar giants like OpenAI like a young upstart challenginā the champ!
And whatās more, itās built with an investment of just $6 million, like a small-time farmer growinā a prize-winning pumpkin! Against tens of thousands of dollars, thatās like findinā a needle in a haystack!
Furthermore, it uses less advanced AI chips to deliver eye-poppinā results like a magician pullinā a rabbit out of a hat!
Chip Stocks Pre-Market Reaction to DeepSeek:
1. Broadcom, $AVGO: -11.9%
2. Nvidia, $NVDA: -11.5%
3. Taiwan Semi, $TSM: -11.2%
4. Super Micro, $SMCI: -10.8%
5. Arm, $ARM: -10.0%
6. Micron, $MU: -8.7%
7. AMD, $AMD: -5.6%
8. Qualcomm, $QCOM:
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2025-01-27 15:14