The Nasdaq is down 1.65% while the S&P 500 has shed 0.77%.

Bitcoin Downturn Presses High-Beta MinersInstitutional Backing Limits Downside Velocity

The downward momentum stands in stark contrast to positive catalysts, which noted institutional accumulation.

Recent 13F regulatory filings revealed that hedge fund Situational Awareness LP sharply boosted its stake in CleanSpark. The fund expanded its position to 12.28 million shares from 1.64 million shares held at the end of 2025—a 7.48-fold increase.

This aggressive institutional acquisition lifted the fund’s portfolio weight in the company to 0.76% from 0.3%, driving the total position value to $104.5 million.

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