The Metaplanet stock price has crashed and has entered a bear market as the deceased vans for bitcoin treasury companies and investors started booking profits.
Summary
- The price of the Metaplanet share has fallen from year to year to 55%.
- Stock bitcoin has fallen as divers by treasury companies.
- Technical analysis indicates a more negative side in the near period.
Metaplanet’s shares reached 00 ($ 6.18), the lowest level since 23 May and 55% below this year’s peak. This decline has increased the company’s market capitalization from 1.14 trillion to ° 638 billion.
Why Metaplanet stock price crashed
Metaplanet’s share price has declined in the last few months, even Bitcoin (BTC) has dropped a few points from its all -time high.
First, there are signs that are wearing a demand for bitcoin treasury shares. For example, the strategy, the largest bitcoin accumulator, has been dropped from its all -time high to 30%. Other similar companies like Mara Holdings and Trump Media have also declined in double digits.
Second, Metaplanet’s shares have fallen due to some investors taking advantage. At its peak in June, the stock was more than 15,000% of its lowest level in 2024.
It is common for shares to pull back after a large rally. From the perspective of a technical analysis, the stock has preferred the distribution of Wyckoff theory or the markdown stage.
Third, there is a concern about the valuation of Metaplanet. Despite a decline of 55% from its all -time high, its net asset value (NAV) is more than 2 compared to many bitcoin treasury companies. The strategy has a navy of 1.47, which is on Mara 1.
Additionally, concerns remain when there is a continuous weakening. In a statement last week, the company announced an additional $ 3.7 billion to buy more bitcoins. The move will increase when weakened, as it increased the shares to 460 million in January last year from 114 million.
Metaplanet share price technical analysis
The daily chart suggests that the price of Metaplanet’s stock has reminded in a strand trend in June from 1,929 to ° 920 in a strand trend.
It has fallen below 50-day and 100-day weighted moving average. Meanwhile, the relative power index has increased to 27, and the average directional index has increased to 35.
Therefore, Metaplanet is the least resistance to the share price Dowards, the next target is at ° 720, its highest point in February.
