Three overvalued crypto-linked stocks have recently posted sharp declines in their value percentile ranking, signaling increased overvaluation and potential risk for investors eager to ride the Bitcoin (CRYPTO: BTC) wave.
3 Overvalued Crypto-Linked Stocks To Watch
According to the latest value percentile report, Bit Digital Inc. (NASDAQ:BTBT), HIVE Digital Technologies Ltd. (NASDAQ:HIVE), and CleanSpark Inc. (NASDAQ:CLSK) have experienced notable week-on-week drops, making them candidates for portfolio trimming by those aiming to minimize exposure to overheated sectors.
Bit Digital
- BTBT, a cryptocurrency mining firm, saw its value percentile ranking drop from 44.26 to 37.11, reflecting a 7.15-point decline over the past week.
- The stock was up 20.51% year-to-date and advanced 14.29% over a year.
- It maintains a stronger price trend over the short, medium, and long terms, with a poor growth ranking. Additional performance details are available here.
HIVE Digital Technologies
- HIVE, another leader in crypto mining, lost 13.12 points in value ranking, moving from a percentile of 63.31 to 50.19 week-on-week.
- The stock was higher by 109.03% YTD and 101.30% in a year.
- This stock maintained a stronger price over the short, medium, and long terms, with a strong growth ranking. Additional performance details are available here.
See Also: 4 Biotechnology Stocks Lead Momentum Gains Amid Strong Technicals
CleanSpark
- CLSK operates as a provider of Bitcoin mining and energy technology solutions. Its value percentile change—down 7.97 points from 57.44 to 49.47—signals increased investor caution.
- Higher by 104.02% YTD, the stock advanced 78.35% over the year.
- It had a stronger price over the short, medium, and long terms, with a strong growth ranking. Additional performance details are available here.
What Does Value Ranking Mean?
Benzinga Edge Stock Rankings‘ value percentile metric is a composite metric that assesses a stock’s relative worth by comparing its market price to fundamental metrics, including assets, earnings, sales, and operational performance, ranked against industry peers on a percentile basis.
A week-on-week decline in this ranking means the market price has moved further above intrinsic value benchmarks, rendering the stock more overvalued compared to its industry counterparts.
Price Action
On Friday, the S&P 500 index ended 2.71% lower at 6,552.51, whereas the Nasdaq 100 index declined 3.49% to 24,221.75. Dow Jones also tumbled 1.90% to 45,479.60.
The futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading higher on Monday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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