The stock of MARA Holdings, a leading cryptocurrency mining company, plummeted by 5.02% in pre-market trading on Friday, reflecting broader volatility in the crypto markets.
While Bitcoin recently surpassed $95,000, reaching new highs, investors have been pulling money out of Bitcoin ETFs amid macroeconomic uncertainties. According to reports, 11 Bitcoin ETFs recorded a combined net outflow of $582 million on Wednesday, marking the second-largest total withdrawal since these investment vehicles began trading a year ago.
The crypto market has also been closely watching regulatory developments, as the US Senate is set to form a crypto oversight subcommittee chaired by Senator Lummis. These factors have likely contributed to increased uncertainty and volatility in crypto-related stocks like MARA Holdings.
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