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Seeking Alpha 2022-03-03 21:31:46

Bitcoin slips to $42.1K but still keeps within two-month range

Bitcoin (BTC-USD) has been bouncing between $34K and $45K for the past two months. On Thursday, the world's largest cryptocurrency was on the downside, sliding 4.5% to $42.1K in late afternoon trading. Bitcoin-linked stocks followed suit. MicroStrategy (NASDAQ:MSTR) fell 6.7%, Marathon Digital Holdings (NASDAQ:MARA) dropped 8.3%, Riot Blockchain (NASDAQ:RIOT) sank 9.9% , and Silvergate Capital (NYSE:SI) dropped 9.0% on Thursday. In a similar trend, those stocks have been roughly tracking bitcoin (BTC-USD) since the start of 2022, but have fallen more than the token as seen in this chart. Bitcoin (BTC-USD) has lost 9.1% of its value YTD since the start of the year, while bitcoin miners Marathon Digital (MARA) sank 18% and Riot (RIOT) dove 21%. Looking at SA Quant ratings, crypto-related stocks don't screen well. Among a collection of crypto stocks, the Quant rating warns that Bakkt (NYSE:BKKT), Riot (RIOT), and Bit Digital (NASDAQ:BTBT) are at risk of performing poorly, each holding a Strong Sell rating. For example,

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