Cipher Digital Inc (CIFR) stock traded lower on Thursday, caught in a downdraft of broad market weakness and Bitcoin's continued slide from Wednesday. Macroeconomic factors also weighed on investor sentiment during the session.
The Nasdaq is down 0.97% while the S&P 500 has shed 0.61%.
According to Trading Economics, oil prices reached May highs, with Brent crude exceeding $102 per barrel and crude rising above $97 amid the ongoing U.S.-Iran conflict. Iran indicated readiness for intensified conflict.
On Thursday, Bitcoin (BTC) traded at $76,838.53, down $1,421.86, or 1.82%, over the last 24 hours.
What Does Cipher Digital Do?
Cipher Digital Inc. (formerly Cipher Mining) develops and operates industrial-scale data centers with a primary focus on high-performance computing (HPC) and artificial intelligence (AI) infrastructure.
Technical Analysis
From a trend perspective, CIFR is still in a repair phase: it's trading below all key moving averages, including the 20-day SMA ($16.45) and well under the 50-day SMA ($18.96) and 200-day SMA ($18.41). That keeps overhead supply in focus, because rallies can run into sellers as the stock approaches those longer-term trend lines.
The moving-average structure also shows a mixed backdrop—bearish in the near term (20-day SMA below the 50-day SMA), but still holding a bullish longer-term crossover (50-day SMA above the 200-day SMA). Practically, that often translates to choppy "two-way" trade where bounces can happen, but they need follow-through to reclaim the 200-day area and shift the intermediate trend.
Key levels traders tend to watch next are:
- Key Resistance: $18 — a round-number area that also sits near the 200-day SMA/50-day SMA zone, where rebounds can stall
- Key Support: $14.50 — a nearby floor area where buyers previously stepped in, making it a key "line in the sand" if selling accelerates
Zooming out, the stock is up 51.57% over the past 12 months, but it's also well off the $30.14 52-week high set in June and is now closer to the middle of its $7.90 to $30.14 range. That context matters because it frames the current move as a consolidation/mean-reversion battle rather than a clean breakout trend.
CIFR Stock Price Activity: Cipher Digital shares were trading at $15.47 down 8.34% at the time of publication on Thursday, according to market data.
