🔴 IREN is trading 6.3% down today as profit-taking follows Citadel-driven rally and crypto weakness

IREN is trading 6.3% down at $35.85 as investors lock in profits following a massive two-day rally and broader weakness in the cryptocurrency market.

• The pullback follows a 30.5% surge in the previous session, which was triggered by news that Citadel acquired a liquidated $300 million AI fund position in the company.
• Downward pressure is being exacerbated by a decline in major cryptocurrencies, with Bitcoin and Ethereum both falling over 2%, weighing on crypto-linked equities.