Top 3 Crypto Stocks To Watch This Week: MSTR, BMNR, And CRCL

Crypto stocks remain in focus as investors monitor Bitcoin price, which holds $79,000 and Ethereum near $2,200 closely. Major crypto stock developments keep Strategy, Bitmine and Circle on the map. 

In recent trading sessions, MSTR shed close to 5% while BMNR fell by nearly 10% and CRCL slipped by almost 8%. Key technical levels are also under focus as digital asset and crypto-related stocks grow volatile in this week.  In response to the U.S. list of “conditions” to achieve peace to end the war, Iran has replied.

MSTR Stock Slides 5% as Strategy Weighs Bitcoin Sales and Debt Buyback

MSTR stock fell as Strategy revealed plans to review Bitcoin sales for debt reduction. The company recently raised nearly $2 billion in STRC Shares to purchase more Bitcoins recently. The average daily trading volume for STRC shares was also robust, at $1.53 billion. 

The market, meanwhile, was left uncertain after Strategy confirmed a $1.5 billion debt buyback. MSTR fell over 5% on Sunday’s trading. Immediate support is located around $175, and more significant support is seen around $170. 

The positive side, resistance levels are near $180 and $187. If Bitcoin sentiment rises further, MSTR could move towards the $195 target with a breakout above $187.

BMNR Stock Drops as Bitmine Slows Ethereum Buying Activity

BMNR stock fell after Bitmine revealed reduced accumulation of ETH over the past week in the latest trading week. The company bought nearly 26659 ETH, which is lower than the previous weeks. 

Previous trading volume has been more than 100,000 ETH per week during a period of aggressive growth. Bitmine also revealed that it has total holdings in Ethereum of about 5.2 million ETH. 

Trading activity continued to be volatile while crypto stocks tracked a wider market sell-off. Technically, the support level is around $19 and $18. 

The next major support and resistance level is $20.50 and $22, respectively. If it moves above the $22 mark, BMNR will likely be heading toward the $24.50 mark in the next sessions.

CRCL Stock Prediction After U.S. Clarity Act Advances in Senate Committee

CRCL continued to struggle as the U.S. Clarity Act moved forward in the Senate Banking Committee. The proposed bill provides a national regulatory structure for stablecoins and digital assets. This development was closely watched by investors as the USDC is one of the top stablecoins in the cryptocurrency market. 

The market calls for regulations that are more transparent to give institutions more confidence in digital assets. From a technical standpoint, $105 is providing immediate support and $110 is providing higher level support. The resistances seem to be at $118 and $123. If bulls get back in the game, CRCL may take a shot at $130 on a breakout from $123.

What’s Next For Crypto Stocks

Crypto stocks could remain volatile as investors monitor geopolitical tensions, Bitcoin price action, and upcoming regulatory developments closely. This week traders are likely to be watching breakout levels, instant demand and general crypto market sentiment.