Rich by Coin

Top cryptocurrency stocks are expected to face significant downward pressure on Monday after Bitcoin suffered a sharp crash to $95,000, marking a decline of roughly 25% from its peak this year.
Alongside Bitcoin, major altcoins, including Ethereum and XRP, have also plunged, dragging related stocks such as Robinhood (HOOD), MicroStrategy (MSTR), and Coinbase (COIN) into bearish territory.
Bitcoin’s recent chart pattern has raised alarms among analysts, as it has formed a death cross on the daily chart — a highly bearish indicator that occurs when the 50-day Exponential Moving Average crosses below the 200-day EMA.
This development suggests further downside risks for the cryptocurrency in the near term.
MicroStrategy, one of the largest institutional holders of Bitcoin, has been on a steep decline alongside the cryptocurrency.
The stock has plummeted more than 63% from its highest point in 2024, falling from a peak of $540 to around $200 currently.
The bearish trend is set to continue as the stock recently dipped below a critical support level of $231, its lowest since earlier this year.
The death cross formed in October and a rising Average Directional Index (ADX) at 40 signals a strengthening downtrend.
Analysts predict that the stock could test a lower support near $113, its last trough from September 2024.
Coinbase’s stock price has mirrored the sector’s woes, sliding from its year-to-date high of $445 in July to about $284.
The stock has broken through key support levels, including the 50-day and 200-day EMA and the critical $292 support level observed in August and September.
Additional technical signals only add to the bearish sentiment.
Coinbase has breached the 50% Fibonacci retracement level and key Murrey Math Lines points, pointing to further downside potential.
Robinhood (HOOD), increasingly identified as a crypto stock due to strategic investments like the acquisition of Bitstamp, is also showing signs of weakness.
The stock has formed a double-top pattern near $153—a bearish technical formation—with a neckline at $120, suggesting a potential trend reversal.
The share price has slipped below the 50-day moving average and significant support levels outlined by Murrey Math Lines.
The prevailing bearish price forecast for HOOD targets a decline towards $100, although a rally above $125 would break this negative outlook.