Markets turned bearish on cryptocurrency related stocks on Monday with Coinbase Global, Robinhood Markets, Marathon Holdings and MicroStrategy Incorporated facing selling pressure.

Robinhood Markets (NASDAQ: HOOD) is rapidly closing the gap with its competitor, Coinbase (NASDAQ: COIN), in the retail cryptocurrency trading space, as Bitcoin rallies toward $100,000.

Robinhood (NASDAQ:HOOD) has outlined an ambitious vision for the next decade during its investor day on December 4, emphasizing near-term product enhancements and long-term geographic expansion.

Coinbase Global gained 2 percent as cryptocurrencies witnessed a recovery after a highly volatile session on Monday. Bitcoin, Ethereum and Solana faced massive selling pressure at higher levels.

Bitcoin has been showcasing strongly bullish trends and five stocks witnessed strength whenever cryptocurrency markets gain.

Cathie Wood’s ARK Invest has made a notable move by purchasing approximately $2.2 million worth of Coinbase (COIN) stock, marking its first acquisition of the crypto exchange shares since September