Crypto Miners Get Crushed as Bitcoin Holds Firm—What’s Really Going On?

Bitcoin’s price refuses to budge, but mining stocks are getting slaughtered. Here’s the brutal truth behind the disconnect.

Market mechanics 101: When BTC flatlines, miners bleed. Their entire business model hinges on volatility and block rewards—neither of which are playing nice right now.

Meanwhile, Wall Street’s latest ‘crypto’ darlings are learning the hard way that pretending to understand blockchain doesn’t magically print money. Who could’ve seen that coming?

Fed jitters hit crypto mining stocks first

Crypto mining stocks plunged as investors digested the Fed’s May meeting minutes, which hinted at rising uncertainty and a tougher balancing act between inflation and economic growth.

While the central bank held rates steady at 4.25% to 4.50%, concerns over persistent inflation and a softening jobs outlook rattled risk assets.

Riot Platforms slid over 8%, CleanSpark dropped 7.6%, and Marathon Digital fell nearly 10% — even as Bitcoin’s prices remained largely unmoved.

Coinbase, Strategy extend losses

The sell-off wasn’t limited to miners.

Shares of Coinbase fell 4.55%, dragged down by broader risk-off sentiment and sensitivity to shifting Fed expectations.

Strategy extended its losing streak with a 2.14% drop. Investors reacted to news of a class-action lawsuit alleging the company misrepresented the nature and risks of its Bitcoin investments.

While crypto prices held steady, equity investors appeared more cautious — pricing in not only macroeconomic uncertainty but also the increasing legal and regulatory slashes facing crypto-related firms.

Politics? Not Bitcoin’s problem!

As political friction between President Donald Trump and Fed Chair Jerome Powell escalates, bitcoin has remained impressively resilient.

Trump’s fiery remark on the 17th of April revealed mounting pressure on the central bank to cut rates.

“Powell’s termination cannot come fast enough!”

Yet BTC has barely flinched. At press time, it traded at $108,624 with a modest 0.73% daily gain.

Technicals show stability: RSI was at a neutral 63, avoiding overbought levels. OBV trended slightly upward, hinting at steady accumulation.

Source: TradingView

Bitcoin’s calm price action during chaos suggests growing maturity — or, perhaps, investor fatigue with U.S. political noise.