Crypto Stocks Jump as Bitcoin Roars Back Above $71,000
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Shares of several cryptocurrency-linked companies rose Wednesday as Bitcoin climbed back above the $71,000 level, lifting sentiment in related equities.
BTC gained about 5% to roughly $71,277, its highest in more than three weeks, amid broader market rebound hopes.
Crypto exchange Coinbase Global
COIN
rose about 6%, while blockchain operator Bitfarms added around 4.5%, according to early premarket data. Smaller mining and blockchain names including MARA Holdings
MARA
and Riot Platforms
RIOT
also climbed between 4% and 6% on renewed investor interest in digital assets.Strategy
MSTR
, the publicly traded firm with a large Bitcoin holding, gained about 7%, outpacing several peers as traders appeared to rotate back into risk assets amid the crypto advance. Robinhood Markets
HOOD
and related trading platforms also saw modest gains in early session trading.The broader rise in crypto stocks followed a rebound in Bitcoin prices that has helped lift the overall cryptocurrency sector, even as other risk assets remain sensitive to macroeconomic and geopolitical developments.
source: https://www.tradingview.com/news/gurufocus:b0392c4f1094b:0-crypto-stocks-jump-as-bitcoin-roars-back-above-71-000/
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