One-liners across all four coverage areas: Treasury Companies, Diversified Crypto, Bitcoin Mining, and Macro & Crypto FX.
Bitcoin edged up 0.7% on the week, but most of the crypto complex told a different story. Mining stocks fell between 8% and 26% as stress in AI credit markets, CoreWeave’s bond yields near 15% and a 10-year Treasury yield at 5.33% hit every company that needs debt to build data centers.
Platforms with lighter balance sheets held up much better, with Circle up 7.6% and Coinbase up 6.9%. MicroStrategy failed MSCI’s new screen for non-operating companies, but the index rules give it more time than the headlines suggest. In altcoins, breadth and correlation still support an altcoin season, yet momentum is fading and the gains are concentrated in a few sectors, led by PYTH, NEAR, OP and ARB.
Below, we go through more than 50 stocks and tokens and explain what drove each move and what we are watching next.
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