Crypto Stocks Break Free as Wall Street Buckles Under Iran Risk

U.S. crypto-linked stocks broke from a broader Wall Street sell-off Monday as bitcoin held above $64,000 while mounting tensions over Iran, Oman, and the Strait of Hormuz rattled traditional markets.

That disconnect produced a rare trading session. Crypto stocks, which often get hammered alongside other speculative assets when investors turn defensive, instead caught a bid from bitcoin while geopolitical fears hit the broader equity market harder.

Strive climbed roughly 5% to 6%, while MARA Holdings gained about 4% to 5%. Circle Internet Group also advanced about 4%, while crypto exchange operator Bullish gained roughly 4%. Coinbase Global was up about 1% to 2% by mid-day, depending where you looked, clawing back losses after opening lower.

Not every crypto-linked name caught the bid. Bitgo Holdings slipped about 1%, while bitcoin mining equipment maker Canaan fell roughly 2%. Cleanspark and Hut 8 posted smaller gains, signaling traders were picking winners rather than blindly buying anything carrying a crypto label.

Oman has been conducting separate talks with Iran about shipping through the strait as diplomatic efforts drag on. A 60-day negotiating period tied to a June memorandum expired Monday without delivering a broader settlement between Washington and Tehran.

For crypto market observers, Monday’s break between bitcoin-linked stocks and major indexes matters because many of these companies remain deeply below their 2025 highs. Strategy, Coinbase, MARA, and other crypto-sensitive equities can magnify bitcoin’s moves, meaning a sustained cryptocurrency rebound could fuel further gains, but another bitcoin sell-off could erase them just as fast.