Cipher Mining Inc's stock price is directly impacted by the performance of bitcoin, as evidenced by its recent fall alongside a decrease in bitcoin's value. The company's mining metrics, including the mining of 316 bitcoins last month, are crucial for investors, especially with the upcoming halving event that historically leads to market rallies. However, the current macroeconomic environment, including lower rate cut expectations from the Federal Reserve and a rise in the 10-year U.S. Treasury yield, has negatively influenced investor sentiment towards bitcoin and related stocks.