Stock Track | MARA Holdings Plunges 6.53% in Pre-market as Crypto Stocks Slide on Fed Chair Selection Concerns
Stock Track
Feb 02
MARA Holdings' stock plunged 6.53% in pre-market trading, mirroring a broad decline across the cryptocurrency sector.
The downturn was triggered by Bitcoin's fall to $76,889 after former Federal Reserve Governor Kevin Warsh was selected as the next Fed chair. Investors are concerned that Warsh, who has called for a smaller Fed balance sheet, might tighten monetary policy, reducing liquidity that has historically supported speculative assets like cryptocurrencies.
Crypto-related stocks, including BitMine, SharpLink Gaming, Strive, CleanSpark, and Strategy, all experienced significant drops in overnight trading, reflecting sector-wide anxiety over potential regulatory and monetary policy shifts.
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