MARA Holdings shares fell 8.23% to $6.58 on October 30, extending a rough month for the Bitcoin miner. The stock traded as low as $6.44, its weakest level since 2023. The session was still open at the time of writing, so the closing price was not final. Early in the day shares opened at $6.81 and stayed below that mark.
September rebound fades
MARA had approached $14 in September before the sharp reversal. By the latest check it had lost more than half of that peak. A brief attempt to hold the $7 to $7.50 area also gave way on Friday, and the chart’s moving averages still slope downward above the stock. That suggests MARA is trading below its recent average prices, and earlier recovery attempts have not reversed the broader slide. Perhaps the next close matters more than intraday moves, since the session had not settled.
Bitcoin retreat adds pressure
Bitcoin was near $76,714 and had touched $76,500 during the session. It had retreated from around $87,000 in September and early October, then fell below the $80,000 to $82,000 area where it recently traded. MARA’s chart showed a 20-period correlation reading of positive 0.78 against BTCUSDT. That points to a strong positive relationship between their closing-price levels over the selected daily window. The link is not perfect because Bitcoin trades continuously and MARA follows stock-market hours, but the recent direction has been similar.
What stabilization would look like
Friday’s low of $6.44 is the first nearby zone to watch. If MARA keeps trading below it, the decline could extend into new lows. The share price has not been at these levels since March 2023. A push back past $7 would put it above levels it has been comfortable with lately. Some consolidation in the $7 to $7.50 area over the next few days could signal that the latest slide is losing steam.
For Bitcoin, the nearby reference is around $76,500, close to its 200-day average. If selling continues, the 75k low range from previous sessions is a level to watch. Both charts show limited recovery from their latest falls. The next closing prices should help show whether buyers can establish firmer ground.
The post MARA shares fall 8% as Bitcoin drops toward $76,500 appeared first on TheCryptoUpdates .
