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Bitcoin miners MARA and Riot drop 6% while Bitcoin price holds near $79,500, signaling miner-specific selling.

Market News
28 Aug 2026
24/7 Wall Street
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Bearish
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Bitcoin remains steady near $79,500, but key Bitcoin mining stocks MARA Holdings and Riot Platforms fell 6% amid profit-taking rather than a broad crypto selloff. The miners have lagged Bitcoin's 26% rally over the past month, with MARA up only 4% and Riot down 2%, indicating investors favor direct Bitcoin exposure over mining equities. The iShares Bitcoin Trust ETF, which tracks Bitcoin directly, moved only slightly, reinforcing that the decline is miner-specific. Investors should watch if Bitcoin holds this level, as a drop could drag miners and the ETF lower, but for now, the miner selloff appears to be a positioning event rather than a fundamental shift.

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