Crypto Stocks Rip Higher as Strategy Jumps 12%, Coinbase Climbs 9%
Crypto Stocks Rip Higher as Strategy Jumps 12%, Coinbase Climbs 9%
BitMine tells a similar story on the Ethereum side. The firm holds 5.82 million ETH tokens, worth roughly $11.4 billion and equal to 4.8% of Ethereum's circulating supply, chairman Tom Lee said this week, putting BMNR about as close to a pure Ethereum bet as a Nasdaq ticker gets.
Even after Wednesday's spike, Strategy, Coinbase, and BitMine remain deeply negative for the year, with analysts split on whether the move marks a genuine turn or another short-covering pop inside a longer downtrend. Follow-through volume on these assets over the next few sessions, alongside whether Bitcoin can hold the $70,284 resistance zone flagged on Wednesday's chart, will likely settle which read is right.
This article has been published in Yahoo.com via Yahoo News.
Crypto Stocks Rip Higher as Strategy Jumps 12%, Coinbase Climbs 9%
Strategy, Coinbase, Circle, and BitMine are riding Bitcoin's short squeeze toward $70K—and two of them may be squeezing equity bears of their own.
finance.yahoo.com
