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      Bitcoin Remains Stable as Crypto Proxy Stocks Decline

      Bitcoin has maintained its position near September highs, closing the month with a gain of approximately 6-7% and hovering around $83,500-$84,000. This performance contrasts sharply with the significant decline of several major Bitcoin proxy stocks, including Strategy (MSTR), Coinbase (COIN), Marathon Digital (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK), which all experienced steep drops in early October.

      The decline in these proxy stocks can be attributed to external market pressures, particularly the rise in the 10-year US Treasury yield, which has reached near 24-year highs, and increasing oil prices above $100. These factors have caused Bitcoin proxy stocks to react more dramatically than Bitcoin itself, which saw a smaller dip below $83,000 on October 7, resulting in liquidations of approximately $500-$700 million among leveraged traders.

      In September, Bitcoin benefited from substantial corporate treasury buying, with Strategy being a notable buyer, holding around 847,000-848,000 BTC at an average price of about $75,400. However, the recent shift from inflows to outflows in Bitcoin exchange-traded funds (ETFs) has raised concerns about future demand, as corporate buying appears to be waning. Investors are advised to monitor Bitcoin's support levels and the bond market's influence on crypto equity prices, as the divergence between Bitcoin and its proxies highlights the risks associated with leveraged exposure in a tightening liquidity environment.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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