MicroStrategy and Marathon Digital Lead Tenuous Bounce for Crypto-Related Stocks

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The government's Sunday evening backstop of depositors at failed $SIVB and $SBNY sent bitcoin above $22K, with stocks like $MSTR, $MARA, $RIOT posting modest rallies in premarket trading. $COIN, however, is losing a little ground. SteveAlpher reports

Signature Bank , with the government also promising to protect all depositors at that lender. The actions sent U.S. stock index futures all higher by more than 1%, though that rally has lost steam shortly before the open. At press time, only Nasdaq 100 futures remain in the green, up 0.2%.

The price of bitcoin on Sunday bounced as high as $22,600 on the news. It's currently pulled back a bit to $22,100. Among stock movers this morning, MicroStrategy is higher by 5.6%. Bitcoin miners Marathon Digital and Riot Platforms are up 5.5% and 2.6%, respectively. Crypto exchange Coinbase isn't yet participating in the rally, down 0.6%.

 

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