5 Stocks to Offload as Bitcoin Declines
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2025
0mins
Should l Buy BKKT?
Source: Benzinga
Market Performance Overview: As 2025 concludes, most asset classes, including the S&P 500 and commodities, have seen significant gains, while cryptocurrencies, particularly Bitcoin, have struggled, with a year-to-date decline of 2% after a peak above $125,000.
Strategy Inc. Challenges: Strategy Inc. (MSTR), which shifted focus to Bitcoin, is facing a decline in stock value due to diminishing premiums and potential debt issues, as Bitcoin ETFs become more accessible.
Bitfarms and Hut 8 Struggles: Bitfarms (BITF) is experiencing a downturn in stock value due to harsh Bitcoin mining economics, while Hut 8 (HUT) faces pressure from a recent stock lockup expiry and a weakening Bitcoin price.
Bakkt and Core Scientific Declines: Bakkt Holdings (BKKT) is seeing declining revenues from its custody services amid slowing trading volumes, and Core Scientific (CORZ) is facing revenue challenges despite initial success, with both companies needing a significant crypto price recovery to improve their financial outlooks.
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Analyst Views on BKKT
Wall Street analysts forecast BKKT stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 10.060
Low
39.00
Averages
39.00
High
39.00
Current: 10.060
Low
39.00
Averages
39.00
High
39.00
About BKKT
Bakkt Intermediate Holdings, Inc., formerly Bakkt Holdings, Inc., provides solutions that enable institutional participation in the digital asset economy - spanning Bitcoin, tokenization, stablecoin payments, and artificial intelligence (AI)-driven finance. The Company operates primarily through Bakkt Crypto Solutions, LLC (Bakkt Crypto). Through Bakkt Crypto’s platform, customers can purchase approved crypto assets, store crypto assets in custodial wallets, liquidate their holdings, and transfer supported crypto assets between a custodial wallet maintained by Bakkt Crypto and external wallets in certain jurisdictions, if enabled by the client. Bakkt Crypto’s proprietary trading platform and relationships with liquidity providers provide access to a wide range of crypto assets and competitive pricing to its customers. Bakkt Crypto holds a New York State virtual currency license (BitLicense), and money transmitter licenses from all states throughout the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Other Stocks Struggling: Stocks like CleanSpark (CLSK), ALT5 Sigma (ALTS), Bakkt (BKKT), and KULR remained in negative territory despite an overall market recovery, indicating a lack of confidence in these equities.
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- New Equity Program: The company has filed to establish a new at-the-market equity program aimed at raising up to $300M through common stock sales, intended to enhance financial flexibility and accelerate its long-term growth strategy.
- Revenue and Costs Nearly Equal: Bakkt forecasts its Q4 digital asset revenue to be between $298M and $300M, while total costs related to digital assets, execution, clearing, and brokerage fees are projected at $297M to $299M, highlighting challenges in profitability as costs nearly match revenues.
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See More
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- Equity Offering Announcement: Bakkt has initiated a $300 million ATM equity program aimed at enhancing financial flexibility and capitalizing on growth opportunities, although no shares have been sold yet, raising concerns about potential dilution in the market.
- Negative Market Reaction: Following the announcement, Bakkt's shares fell by 18.92% to $17.36, reflecting a 39.91% decline over the past year, indicating investor caution regarding the company's future performance.
- Unfavorable Financial Forecast: The next earnings report is expected on March 18, with an estimated loss of 47 cents per share and revenue forecasted at $279.87 million, significantly down from $1.80 billion year-over-year, highlighting the challenges the company faces.
- Technical Indicators Show Weakness: Bakkt's stock is trading well below key moving averages, and the MACD indicates ongoing bearish pressure, suggesting that investors should remain cautious as further downward momentum may be likely.
See More
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- Shareholder Rights Investigation: Halper Sadeh LLC is investigating Stellar Bancorp, Inc.'s sale involving 0.3803 shares of Prosperity common stock and $11.36 in cash per share, potentially indicating breaches of fiduciary duties to shareholders.
- Merger Scrutiny: The merger of Bakkt Holdings, Inc. with Distributed Technologies Research Ltd. is under review, with Halper Sadeh LLC potentially seeking increased compensation and additional disclosures for shareholders.
- Executive Transaction Investigation: The sale of FONAR Corporation to CEO Timothy Damadian and other executives, involving $19.00 per share for Class B common stock and $6.34 per share for Class C common stock, raises concerns about potential conflicts of interest.
- Cash Acquisition Review: Clearwater Analytics Holdings, Inc.'s sale to Permira and Warburg Pincus for $24.55 per share in cash is being evaluated by Halper Sadeh LLC for potential violations of shareholder rights.
See More
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- Bitcoin Price Recovery: Bitcoin's price nearing $88,700 has boosted the performance of crypto-linked stocks, although some stocks remain under pressure, indicating a divergence in market sentiment.
- Strong GameStop Performance: GameStop (GME) closed up 4.44% and continued to rise in after-hours trading as investor Michael Burry increased his stake, reflecting optimistic market sentiment about its future prospects.
- Strategy Stock Decline: Strategy (MSTR) fell 1.55% due to the announcement of additional equity sales related to its Bitcoin accumulation strategy, although it slightly rebounded after hours, highlighting investor concerns over dilution risks.
- Other Stocks Struggling: Stocks like CleanSpark (CLSK), ALT5 Sigma (ALTS), Bakkt (BKKT), and KULR remained in negative territory despite an overall market recovery, indicating a lack of confidence in these equities.
See More
BitGo (BTGO) Goes Public, Raises $212.8M with $2.59B Valuation
- Successful IPO: BitGo listed on the New York Stock Exchange, pricing its IPO at $18 per share, exceeding the expected range of $15-$17, successfully raising $212.8M, marking the first stock market debut by a digital asset company in 2026.
- Strong Stock Performance: On its first trading day, BitGo's stock opened at $22.43 per share, reflecting strong market demand for its crypto custody services and enhancing the company's influence in the digital asset space.
- NYSE Tokenized Securities Platform: The New York Stock Exchange announced the development of a tokenized securities trading platform aimed at enabling 24/7 trading and instant settlement, intending to modernize market infrastructure by integrating blockchain technology with traditional securities trading.
- Strategic Bitcoin Acquisition: Strategy reported acquiring 22,305 bitcoins for approximately $2.125B between January 12 and January 19, demonstrating its proactive positioning in the cryptocurrency market, now holding 709,715 bitcoins with a total investment of about $53.92B.
See More
D.R. Horton Reports Q1 Net Income of $594.8M Exceeding Estimates
- Earnings Highlight: D.R. Horton reported a net income of $594.8 million for Q1 2026, translating to $2.03 per diluted share, surpassing the analyst estimate of $1.95, despite a revenue decline to $6.887 billion, showcasing the company's resilience amid market fluctuations.
- Sales Performance: While total revenue decreased from $7.613 billion year-over-year, sales exceeded expectations at $6.603 billion, indicating the company's strong sales capability in a competitive real estate market.
- Market Reaction: Amidst a broader market downturn, D.R. Horton's stock price remained relatively stable, reflecting investor confidence in its financial health, which may lay the groundwork for future growth.
- Industry Trends: Given the volatility in the real estate market, D.R. Horton's robust earnings report could attract more investor attention, particularly as economic uncertainties rise, positioning the company as a potential bellwether in the industry.
See More
Bakkt Holdings (BKKT) Cash Holdings Decline 18%, New $300M At-the-Market Equity Program Announced
- Cash Holdings Decline: Bakkt Holdings estimates its cash and cash equivalents will drop to between $26M and $28M by December 31, 2025, down significantly from $64.4M as of September 30, 2025, indicating financial strain.
- New Equity Program: The company has filed to establish a new at-the-market equity program aimed at raising up to $300M through common stock sales, intended to enhance financial flexibility and accelerate its long-term growth strategy.
- Revenue and Costs Nearly Equal: Bakkt forecasts its Q4 digital asset revenue to be between $298M and $300M, while total costs related to digital assets, execution, clearing, and brokerage fees are projected at $297M to $299M, highlighting challenges in profitability as costs nearly match revenues.
- Market Expansion Plans: Bakkt aims to expand its Bakkt Agent initiative and Zaira's stablecoin payment platform while increasing investments in Japan and India, reflecting a strategic focus on capturing growth opportunities in high-potential markets.
See More
Bakkt Holdings Inc Announces $300 Million ATM Equity Program, Shares Plummet
- Equity Offering Announcement: Bakkt has initiated a $300 million ATM equity program aimed at enhancing financial flexibility and capitalizing on growth opportunities, although no shares have been sold yet, raising concerns about potential dilution in the market.
- Negative Market Reaction: Following the announcement, Bakkt's shares fell by 18.92% to $17.36, reflecting a 39.91% decline over the past year, indicating investor caution regarding the company's future performance.
- Unfavorable Financial Forecast: The next earnings report is expected on March 18, with an estimated loss of 47 cents per share and revenue forecasted at $279.87 million, significantly down from $1.80 billion year-over-year, highlighting the challenges the company faces.
- Technical Indicators Show Weakness: Bakkt's stock is trading well below key moving averages, and the MACD indicates ongoing bearish pressure, suggesting that investors should remain cautious as further downward momentum may be likely.
See More
