MARA Holdings shares dropped 8.23% to $6.58 on October 30, with the session still running and the closing print not yet set. The stock traded as low as $6.44, a level it had not seen since 2023. The move extends a rough month for the Bitcoin miner and puts more distance between the stock and its September highs.
September gains have faded
MARA came close to $14 in September. Since then, the stock has reversed sharply and lost more than half its value from that peak. A short attempt to hold the $7 to $7.50 area also failed Friday. Shares opened at $6.81 and stayed below that price while the session was underway. The chart’s moving averages remain above the stock and slope downward, which suggests recent recovery attempts have not changed the broader trend.
Bitcoin’s pullback matters
Bitcoin traded near $76,714 and touched $76,500 during the session. The largest crypto had already slipped from around $87,000 in September and early October. It then broke below the $80,000 to $82,000 area where it had been trading. MARA’s 20-period correlation reading against BTCUSDT was positive 0.78, pointing to a strong link between their closing-price levels over the daily window. The two markets do not share the same hours, since Bitcoin trades continuously and MARA follows stock-market schedules, so their daily percentage changes cover different windows. Still, the relationship helps explain why MARA has been under pressure while Bitcoin weakens.
Levels to watch
Friday’s low at $6.44 is the first nearby zone for MARA. If the stock keeps trading below that level, it would extend the decline into new lows. A push back above $7 would put it above the area where it has recently struggled. Some consolidation between $7 and $7.50 over the next few days might signal that the latest slide is losing steam. On the Bitcoin side, $76,500 is close to the 200-day average. If selling continues, the $75,000 low range from previous sessions is another level to watch. Both charts show limited recovery from their latest falls. The next closing prices may give a clearer sign of whether buyers can establish firmer ground.
