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Crypto Stocks Get Rekt on Wall Street

Stock market weakness spilled into crypto, with crypto-related tickers plunging as much as 20%.

Feb 3, 2026 • 1 min read

What began as a positive day for crypto-related equities quickly devolved into a bloodbath for the assets, with bluechip blockchain infrastruture companies and DATCos alike getting hit amid a tough day for tech stocks and crypto assets broadly.

What's the Scoop?

Widespread Weakness: The broader crypto industry took another beating today with the stock market's S&P 500 down over 100 points. Bluechip crypto stocks experienced immense weakness, with publicly traded crypto exchange Coinbase (COIN) falling over 7% on the day and crypto asset manager Galaxy (GLXY) sliding 20%.
DAT Destruction: Crypto's digital asset treasuries (DATs) have offered even greater volatility to crypto market moves, with ETH-heavy BitMine (BMNR) and BTC-focused Strategy (MSTR) falling nearly 10% intraday amid news of multi-billion dollar unrealized losses for both companies.
Tokens Tumble: Despite the relatively modest 3% drop experienced by the total crypto industry market capitalization (TOTAL), losses in BTC and notable altcoin majors ETH and SOL were amplified, registering 4%+ daily drawdowns.

MicroStrategy’s average cost basis is $76,052.

With $BTC currently trading in the mid-75s, Saylor is officially down on his position for the first time in nearly 3 years. pic.twitter.com/abJNod51zW
— the dude (@cryptodude999) February 3, 2026

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