According to Woofun AI, as major assets like Bitcoin, Ethereum, and Ripple retreat from their September highs, crypto-related stocks are broadly under pressure, with this week's market focus centered on the holdings and financial developments of four core targets: BitMine (BMNR.US), MicroStrategy (MSTR.US), Strive (ASST.US), and BitGo (BTGO.US).

After a short-term correction of 10% from its September high, MicroStrategy's stock price has closely tracked Bitcoin's pullback from $87,200 to $83,000. Michael Saylor previously hinted that the company continued buying last week and believes there is "more room to add," making its upcoming purchase disclosure a key market variable. Currently, MicroStrategy holds 848,000 bitcoins, ranking first among global institutions, with total value exceeding $70 billion, a substantial expansion from its low of more than $49 billion earlier this year. In addition to accumulating BTC, the company is also using new financing to repurchase STRC (STRC.US) shares, aiming to raise net asset value to par.

Meanwhile, Strive, associated with Vivek Ramaswamy, has also become a key focus this week. Its latest report disclosed the purchase of 2,000 bitcoins at $84,422 each, costing approximately $169 million, funded by its preferred stock instrument SATA (SATA.US). Data compiled by Woofun AI shows that Strive now holds 29,462 bitcoins, with a total value exceeding $2.4 billion. Its stock price has surged 285% from its low for the year, placing it among the world's largest BTC holders.

Regarding BitMine, Tom Lee's stock price fell from a September high of $28.8 to $24, a decline consistent with Ethereum's drop from $2,806 to $2,540. The market is closely watching its ETH purchases last week. Previous reports showed its holdings had reached 6,016,414 coins, representing 4.9% of total holdings, and it is expected to soon hit the 5% threshold. After halting BTC purchases, BitMine shifted its strategic focus to generating revenue through staking and pledged to avoid diluting shareholder equity through additional share issuance.

In contrast, custody giant BitGo faces a more severe situation. Its stock price has plummeted more than 70% from its historical high, and its market value has shrunk from $2.14 billion to $861 million. More critically, BitGo is facing a $141 million lawsuit filed by DWF Maas and Falcon Digital, alleging it improperly sold WLFI tokens before the lock-up period ended. The project is led by World Liberty Financial, which is backed by the Trump family. On the financial front, although BitGo's second-quarter revenue grew 79.6% year-over-year to $4.32 billion, net profit swung from $38.3 million in the same period last year to a net loss of $19 million, worsening profitability has intensified market concerns.

This week, market sentiment has swung sharply between enthusiasm for accumulation and litigation risk. The aggressive position-building strategies of MicroStrategy and Strive stand in stark contrast to BitGo's financial difficulties, reflecting diverging views within the crypto industry on the path to asset appreciation. This is a typical cycle in which crypto companies once again face dual tests of fundamentals and compliance following heightened regulatory uncertainty. Going forward, attention should focus on the extent of stock price corrections after each company's earnings disclosure.