MARA, MSTR Dropped as Bitcoin Dips, Wait and Trade at Right Side

Marcus_Web3
07-05

On July 4, 2024, $Bitcoin(BTC.USD.CC)$ Dips below $58,000 for the first time in two months, causing a ripple effect across the crypto market.

$Coinbase Global, Inc.(COIN)$, $Marathon Digital Holdings Inc(MARA)$ , $MicroStrategy(MSTR)$ dropped 6.41% ,8.34%, 8.61% at premarket,

$Marathon Digital Holdings Inc(MARA)$ Pool is ramping up with btc mined coins this month. In 5 days of July it mined 100 btc. If that pace will continue, company will mine via pool ~620 $Bitcoin(BTC.USD.CC)$

I was thinking to plan put spread strategies between $199~208 area $Coinbase Global, Inc.(COIN)$ but maybe it is too early, as we dont know whether the drop is short term or long term, when it is bottom out. I think it will be good time to add back.

@ESKED_@ESKED_

If BTCUSD about to turn the momentum from positive to negative on the weekly, time to short or buy put on $Bitcoin(BTC.USD.CC)$ related stocks and ETFs?

The top 10 companies holding the most Bitcoin.

$MicroStrategy(MSTR)$ $Marathon Digital Holdings Inc(MARA)$ $Tesla Motors(TSLA)$ $Hut 8 Mining Corp(HUT)$ $Coinbase Global, Inc.(COIN)$

$Galaxy Digital Holdings Ltd.(BRPHF)$ $Block(SQ)$ $Riot Platforms(RIOT)$ $Bitcoin Group SE(BTGGF)$ $CleanSpark, Inc.(CLSK)$ and $MicroStrategy(MSTR)$ worth look at.

Related bitcoin assets: $Coinbase Global, Inc.(COIN)$ $Marathon Digital Holdings Inc(MARA)$ $Block(SQ)$ $Hut 8 Mining Corp(HUT)$ $MicroStrategy(MSTR)$ $CME Bitcoin - main 2405(BTCmain)$ $Invesco Galaxy Bitcoin ETF(BTCO)$ $BIT Mining(BTCM)$ $WisdomTree Bitcoin Fund(BTCW)$ $Grayscale Bitcoin Trust(GBTC)$ $Fidelity Wise Origin Bitcoin Fund(FBTC)$ $iShares Bitcoin Trust(IBIT)$ $ARK 21Shares Bitcoin ETF(ARKB)$

Citron Shorts MSTR: Would You Bottom or Go Short?
MicroStrategy, known as a "major Bitcoin holder," saw its stock price plummet after Citron Research, led by Andrew Left, posted on social platform X announcing a short position against the software company. Citron argued that MicroStrategy has essentially transformed itself into a Bitcoin investment fund. ----------------- Would you consider bottoming them during a pullback? What's your target price for MSTR?
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