New York, Feb 12, 2026, 07:30 ET — Premarket
- Shares of MARA dropped roughly 1% in premarket trading following Wednesday’s close
- Bitcoin hovered close to $68,000 as traders awaited U.S. inflation figures
- Crypto-linked stocks remained under pressure following BlockFills’ move to freeze withdrawals
MARA Holdings shares dipped 1.1% to $7.56 in premarket trading Thursday, reflecting choppy action in bitcoin and other crypto stocks.
The pullback is critical as traders gear up for Friday’s U.S. consumer price index report, a major factor shaping rate-cut bets that have rattled risk assets lately. At the same time, the crypto market faces new stress signals emerging from inside the industry.
Bitcoin climbed roughly 1% to hover near $68,000, following volatile moves this month that have once again drawn attention to miners and trading platforms.
Early trading saw most peers slip. Riot Platforms edged down a bit, and CleanSpark, TeraWulf, and Cipher Mining dropped roughly 3% to 5%. Coinbase took a bigger hit, sliding over 5%.
Crypto-linked stocks often behave like leveraged bets on bitcoin. When bitcoin takes a dive, miners can plunge even harder since their revenue and the value of coins on their balance sheets typically track the token’s price, but their power and equipment expenses stay fixed.
Funding risk remains a concern in crypto markets. BlockFills, a Chicago-based crypto liquidity provider and lender, announced Wednesday that it paused client deposits and withdrawals last week as it scrambled to stabilize platform liquidity. 1
Analysts note thinner liquidity and jittery positioning following the recent selloff. “Bitcoin balances on exchanges have declined since peaking on February 5,” Dessislava Ianeva, an analyst at Nexo Dispatch, observed, hinting at some relief in short-term selling pressure. 2
Still, the situation works both ways. If inflation runs hotter than expected, bond yields might climb, putting pressure on bitcoin and the stocks that react strongly to them. On the flip side, more withdrawal freezes or forced selling in crypto markets would likely hit miners the hardest.
The Labor Department’s schedule shows Friday’s U.S. CPI report for January will drop at 8:30 a.m. ET. Traders are eyeing it as the next major catalyst. 3
