Yesterday, cryptocurrency stocks took a serious hit — the entire sector dropped by 5-10%. Coinbase, Galaxy, Gemini, miners, Robinhood, MicroStrategy — all declined simultaneously. Bitcoin fell below 66,000, and crypto-related stocks followed suit.

In general, this is part of something larger. Over the past few months, the market has erased $17 trillion in capitalization — Mag7 is down, gold is falling, silver has dropped 45%, and Bitcoin has retreated nearly 45% from its all-time high of 126,000. The Nasdaq is already in correction (down 10% from its January peak), and the S&P 500 is approaching the same. The Fed is caught between inflation and worsening labor market conditions, bond yields are jumping — investors are now expecting not rate cuts but possible hikes.

But an interesting pattern: every Monday after the start of the Middle East conflict, the market rises on relief (by about 3%), and then the entire week is marked by profit-taking. By Friday, people are mass closing positions and reducing risks. Cryptocurrency sector stocks are especially sensitive to this — they fall more sharply than others because they are perceived as high-risk assets. Over six weeks of war, Bitcoin has held within the range of 65-73 thousand, but this stability is only superficial — in reality, the market is increasingly dependent on a handful of institutional buyers with fixed mandates.

So yesterday’s decline in cryptocurrency stocks is not an isolated event but part of a broader risk reassessment amid geopolitical uncertainty and rising yields. If the pattern persists, we expect a recovery on Monday.