Crypto Stocks Face Bearish Pressure Amid AI Market Sell-Off Concerns

Crypto stocks have been facing bearish pressure as the AI market sell-off weighs on prices. Coinbase (NASDAQ: COIN) and Bitmine (NYSE: BMNR), among others, closed lower on July 17, with traders watching for a potential crash or recovery.

COIN stock price dropped by 2.10% to close at $157, testing support at $152. Openheimer trimmed its target to $209, warning of weak earnings due to decreased crypto trading volumes. JPMorgan also reduced its COIN target and expressed concerns about the Hyperliquid partnership's impact on stablecoin revenues.

On the other hand, BMNR stock defied bearish expectations with a 1.62% gain to close at $15. Bitmine reported Q3 2026 revenue of $46 million, a 22 times increase from the previous quarter. However, the company holds significant unrealized losses on its Ethereum holdings.

Circle (NYSE: CRCL) stock hit a 6-month low due to regulatory headwinds and concerns about stablecoin yields in the CLARITY Act. MSTR stock also struggled despite Strategy's recovery plan, but showed signs of a potential reversal with shrinking AO bars.