Crypto Exchange Stocks Drop as Bitcoin Falls Below $84K
Major crypto exchange stocks extended losses on Thursday as Bitcoin slid 6% below $84,000, reflecting cautious sentiment across the market. Coinbase (COIN), the largest publicly traded crypto firm, fell 7% on the day and is down 17% year-to-date, marking its eighth straight losing session—its longest streak since September 2024. The stock now trades at $195, retracing to levels last seen in May 2025.
Other exchanges also declined. Gemini (GEMI) fell 8% Thursday and 21% year-to-date, while Bullish (BLSH) and Circle (CRCL) are down 16% and 20% this year. Declines are linked not only to falling crypto prices but also to lower spot trading volumes, which totaled $900 billion in January—roughly half of January 2025’s $1.7 trillion, according to TheTie.
“Bitcoin has been hovering around $85,000, and investors are cautious amid geopolitical tensions,” said Eric He, Community Angel Officer and Risk Control Adviser at LBank. “Crypto remains in a wait-and-see phase, even as stocks and commodities push higher.”
AI Pivot Supports Some Firms
Some crypto companies are finding resilience through AI. Bitcoin miners leveraging computing power for AI workloads—including Hut 8 (HUT), IREN (IREN), CleanSpark (CLSK), and Cipher Mining (CIFR)—have posted year-to-date gains.
Galaxy Digital (GLXY), led by Mike Novogratz, has also benefited from expanding into data centers, driving strong performance in 2026 despite Thursday’s pullback.
