Cipher Mining (CIFR) Stock is Down: Here’s the Indicator to Keep Tabs On[Stocks](https://moneymorning.com/category/article/stocks/) # Cipher Mining (CIFR) Stock is Down: Here’s the Indicator to Keep Tabs On  by Joshua Enomoto  October 8, 2025  Share it: Under any other circumstance, **Cipher Mining**’s ( [CIFR](https://moneymorning.com/stocks/cifr)) small dip in the market on Wednesday would hardly classify as even a minor pothole. Since the start of the year, [CIFR](https://moneymorning.com/stocks/cifr) stock has enjoyed a blistering 237% run — but that’s just the start of it. Indeed, the bullish narrative for [CIFR](https://moneymorning.com/stocks/cifr) has come alive in recent sessions. During the half-year period, the equity has skyrocketed 641%. In the trailing 30 (calendar) days, the market value of the blockchain miner has more than doubled. At the same time, broader fundamental concerns have weighed on the equities sector, raising questions about the more speculative names like [CIFR](https://moneymorning.com/stocks/cifr) stock. Overall, the market appears euphoric — and that’s really the problem for concerned investors. With so much [capital being poured into artificial intelligence](https://moneymorning.com/2025/10/08/ai-hype-hitting-reality-oracles-slim-ai-margins-send-tech-stocks-lower/), anxieties have emerged that the substance of the innovation can no longer support the hype. Subsequently, powerhouse enterprises like **Nvidia** (NVDA) and **Oracle** (ORCL) encountered volatile trading. While Cipher may not directly tie into generative AI, [CIFR](https://moneymorning.com/stocks/cifr) stock certainly falls under the broad wave of tech innovations that have seen market values soar over the past few months. As such, early stakeholders who have enjoyed resounding returns may be considering taking some profits off the table. Nevertheless, [CIFR](https://moneymorning.com/stocks/cifr) stock doesn’t necessarily demonstrate a worrying sign — as evidenced by options data. Specifically, Fintel reports that net long premiums bought — a metric that backs out bearish calls and puts and bakes in bullish equivalents — shows that on a cumulative basis between Sept. 10 through Oct. 7, traders have been exposed to the long side of the sentiment spectrum. Not only that, the trend continues to rise alongside the [CIFR](https://moneymorning.com/stocks/cifr) stock price.  In fact, the correlation coefficient between the two metrics clocks in at 72.28%. Essentially, as the smart money continues to pile in, [CIFR](https://moneymorning.com/stocks/cifr) stock marches higher. To be clear, the cumulative count of net long premiums bought isn’t a “real” metric in the sense that it’s not an absolute measure of contracts sitting in open interest. However, it does show the trend of option sentiment over a period of time — and from the available evidence, the smart money is buying in. **Beat the market, without relying on brokers or biased institutions.** Email(Required) Instagram This field is for validation purposes and should be left unchanged. Subscribe By submitting your email address, you will receive a free subscription to _Money Morning!_ and occasional special offers from us and our affiliates. 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