Shares of digital asset miners including Marathon Digital Holdings Inc (NASDAQ:AMRA) and Riot Platforms Inc (NASDAQ:RIOT) are trading lower Monday amid a weekend decline in the price of Bitcoin (CRYPTO: BTC) and other cryptocurrencies.
Other crypto-related stocks are also seeing selling pressure, including Coinbase Global Inc (NASDAQ:COIN) and MicroStrategy Inc (NASDAQ:MSTR).
What Happened: Bitcoin crossed the $30,000 mark for the first time since June 2022 last week, which helped fuel a rally in several cryptocurrencies including Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).
Despite falling below the $30,000 level, Bitcoin is still up more than 78% since the start of the year. $28,200 was a strong resistance point, which could become support moving forward. Last week, some bulls were calling for a continued move to the $36,000 level.
Marathon Digital is engaged in mining digital assets. The company owns mining machines and a data center for digital assets. The stock was down 6.52% at $11.19 at time of publication.
Riot Blockchain is another Bitcoin miner focused on building, supporting and operating blockchain technologies. It was down 6.23% at $12.64 at last check.
Coinbase and MicroStrategy were both down approximately 3% Monday morning.
Check This Out: Over $2B Staked Ethereum Withdrawn As The Second-Largest Crypto Hits 11-Month High
$BTC Price Action: Bitcoin fell below $30,000 in weekend trading and was continuing to trade lower early Monday. It was last down 2.48% over a 24-hour period at $29,535.
Photo: mohamed_hassan from Pixabay.
