Bitcoin Drop Shakes Crypto Stocks As Coinbase, Robinhood, MARA, Riot Dip: Do Traders See A Bargain?

Bitcoin's BTC/USD tumble below $80,000 sent shockwaves through crypto-related stocks on Monday, with names like Coinbase Global Inc COIN, Robinhood Markets Inc HOOD, MARA Holdings Inc MARA and Riot Platforms Inc RIOT all taking a hit in early trading.

But as the dust settles, traders are scanning the charts for signs of opportunity.

Coinbase Global: A Bearish Trend, But Signs Of Life?

Coinbase stock slipped over 10.5% during early trading (by 10:30 AM) on Monday, weighed down by Bitcoin's slump and a disappointing White House Crypto Summit. Adding insult to injury, the stock was passed over for inclusion in the S&P 500, a move that could have triggered institutional inflows.

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Technically, Coinbase stock is flashing bearish signals across multiple time frames. The stock is trading below its eight-day ($211.20), 20-day ($237.59), 50-day ($260.90) and 200-day ($235.75) simple moving averages, indicating downward pressure. Bearish momentum prevails over the stock.

Robinhood Markets: A Pullback Or A Setup?

Robinhood stock faced the steepest drop, sliding over 13% in morning trade. Despite this, retail traders remain bullish, seeing the dip as a potential buying opportunity.

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The technicals, however, paint a cautious picture. HOOD stock is below its eight, 20 and 50-day moving averages, reinforcing a bearish trend.

Yet, its 200-day moving average at $31.14 is far below HOOD stock trading at $38.23, signaling that longer-term momentum remains intact.

Marathon Digital: Strongly Bearish

Bitcoin mining giant Marathon Digital Holdings’ MARA stock also took a hit, down over 12% in early trading. Trading sentiment around the stock among retail traders echoes in the technicals.

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From a technical standpoint, MARA stock is extremely bearish. The stock is trading below its eight-day ($14.37), 20-day ($14.95), 50-day ($17.05) and 200-day ($18.79) moving averages—all bearish signals—signaling short and long-term bearish pressure.

Riot Platforms: The Struggle Continues

RIOT stock declined more than 6%, extending a rough year-to-date performance.

Chart created using Benzinga Pro

With the stock trading well below key moving averages—eight-day ($8.69), 20-day ($10.28), 50-day ($11.30), and 200-day ($10.15)—the trend remains firmly bearish. However, some traders see the steep declines as an eventual buying opportunity if Bitcoin stabilizes.

Buy-The-Dip Or Caution?

Crypto stocks are moving in lockstep with Bitcoin, and with BTC's recent weakness, traders are treading carefully. While long-term technicals remain bullish for HOOD stock, the broader trend remains bearish across the sector.

For investors eyeing an entry, the key question is whether Bitcoin stabilizes or continues its descent.

If BTC finds support, crypto-linked stocks could stage a rebound. If not, the pain may not be over just yet.

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