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Crypto stocks opened the week under pressure as traders took profits following a sharp Friday rally across digital assets and broader financial markets.

MARA Holdings (MARA) and Circle (CRCL) led the losses, falling about 6% in early trading. Bullish (BLSH) was down 5%, while Strategy (MSTR) slipped 3%. Other publicly traded platforms with crypto exposure, including Coinbase (COIN), eToro (ETOR), and Robinhood (HOOD), also traded lower.

The moves mirrored a broader pullback in digital asset prices. Bitcoin BTC$110,020.53 and ether (ETH) were both down significantly from their weekend highs, falling roughly 4% and 5.5%, respectively, over the past 24 hours.

That Friday rally followed dovish comments by Federal Reserve Chair Jerome Powell on Friday morning, which briefly boosted risk appetite across markets. Crypto surged alongside stocks as investors interpreted Powell’s remarks as a signal that the Fed may be lowering interest rates next month.

In traditional markets, the S&P 500, Nasdaq and Dow Jones Industrial Average were little changed on the day, as was the price of gold and the yield on the U.S. 10-year Treasury Note.

“The crypto market is grappling with macro pressures: shifting Fed signals, dollar strength, and risk reduction,” LMAX market strategist Joel Kruger said in a note. “While [Powell] hinted at rate cuts, the nuance and less dovish undertone left markets jittery.”

Nvidia’s upcoming earnings on Wednesday will be a key sentiment check for the broader stock market, with further focus on Thursday’s GDP and jobless claims data and Friday’s core PCE, said Jake Ostrovskis, OTC trader at crypto trading firm Wintermute.

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