On September 14, Riot Platforms fell 5.59% in regular trading, trading at $20.34/share, with turnover of approximately $47.94 million. The decline was triggered by on-chain data revealing that the company transferred additional Bitcoin holdings to a custodial account, fueling fears of continued asset liquidation.

According to on-chain monitoring by Onchain Lens, Riot Platforms' Foundry Digital mining pool wallet transferred 119.63 BTC, valued at approximately $9.3 million, to NYDIG Custody. Notably, this is not the first such transfer — in early July, Riot deposited 500 BTC (worth roughly $30.9 million) into the same NYDIG custodial account in two separate transactions of 413.793 BTC and 86.207 BTC, which was widely interpreted as preparation for a sale. The repeated pattern of BTC transfers to NYDIG has intensified market concerns that Riot is systematically liquidating its Bitcoin reserves, weighing on investor sentiment.

Despite the short-term pressure, multiple investment banks have maintained positive outlooks on the stock. Morgan Stanley recently set a $43 target price, while Macquarie raised its target to $35 with an Outperform rating. The analyst consensus target stands at approximately $32.98.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)