Crypto Stocks Soar as Bitcoin Rallies to Retake $20K

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A Tuesday rally has sent bitcoin above $20K for the first time in nearly 3 weeks, and ether to about a one-month high. $COIN, $MSTR, $RIOT, $HUT, $MARA are among the crypto names sporting double-digit percentage gains. SteveAlpher reports

) is ahead just shy of 11% to its highest price since the Merge, leading a broad rally in cryptocurrencies and related stocks.

Among names on the move are Coinbase and MicroStrategy – each up 10%. Many of the crypto miners are doing even better, with Hut 8 , Bitfarms , Marathon Digital and Riot Blockchain higher by 11%-18%. Crypto is rallying alongside traditional equity markets, with the Nasdaq higher by 1.6% and S&P 500 by 1.1%. At play is the idea that the Fed is nearing the end of its rate hike cycle, and both bond yields and the dollar are sharply lower in Tuesday trade.

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SteveAlpher “Crypto stocks” lol

SteveAlpher

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