MARA Holdings, a leading cryptocurrency mining company, witnessed a 5.10% plunge in its stock price during the after-hours trading session on Thursday. The decline in MARA's shares was accompanied by a wavering Bitcoin price, which struggled to maintain a foothold above the $90,000 level.

Bitcoin, the world's largest cryptocurrency, has experienced significant volatility in recent weeks, fluctuating between highs of $99,000 and lows of $78,000. This volatility has had a direct impact on crypto-related stocks, including MARA Holdings, as they are closely tied to the performance of digital assets.

Several factors contributed to the downward pressure on Bitcoin and, consequently, on MARA Holdings' stock price. Broader market sentiment and investors' shift away from riskier assets played a role, as did crypto-specific factors such as uncertainty surrounding regulatory developments and potential announcements from the White House regarding a strategic crypto reserve.