Crypto’s equity proxies hit the red as bullish analysts keep their powder dry

Circle (CRCL), Robinhood (HOOD), and Coinbase (COIN) retreated on Monday as crypto stocks tracked broader weakness in technology shares and digital assets. The pullback came even as US PCE inflation matched Wall Street expectations, while the Federal Reserve maintained interest rates amid persistent economic uncertainty.

The decline followed recent losses among leading technology stocks and reinforced cautious investor sentiment across the broader financial sector. The Kobeissi Letter warned that markets may be experiencing a hidden bear phase, highlighting the recent fall in prices of leading companies in the space.

Despite the downturn, market analysts remained bullish, with some viewing the retreat as an opportunity for investors to enter the market at a discount. Bitget advertised Bitcoin, Ethereum and 500+ cryptocurrencies for trading.