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Bitcoin (BTC) edged higher after its sharp retreat from the $89,000 zone, lifting parts of the crypto-equities sector even as broader markets remained mixed. The asset bounced from a seven-month low of $89,393 and was trading 0.3% higher at $93,397.45 at press time.
Market data from Nov. 18 showed uneven performance across crypto-linked stocks, with several names posting solid gains while others continued to lag behind the recovery.
MSTR, Bitmine, WULF climb despite sector weakness
Shares of Michael Saylor's Strategy (NASDAQ: MSTR), one of the largest corporate holders of Bitcoin, outperformed the market with an 8.05% intraday surge. Right before the drop, Strategy had added 8,178 bitcoin for $835.6 million, taking its total holdings to 649,870 BTC.
Digital-asset treasury firm Bitmine (AMEX: BMNR) also moved higher, gaining 5.33% as traders looked for exposure to companies tied directly to BTC reserves or network activity. Chairman Tom Lee recently predicted that Ether is entering the same “Supercycle” that once helped Bitcoin rise more than a hundred times from his original recommendation in 2017.
Just a day ago, Bitmine also acquired over 54,000 ETH worth approximately $173 million, bringing its total holdings to nearly 3.6 million ETH.
Mining firm TeraWulf Inc. (NASDAQ: WULF) staged one of the strongest moves of the session, climbing 8.28%. The company's third-quarter earnings, revealed last week, indicated an 87% jump in revenue, thanks to Bitcoin's rising price and expanded mining capacity.
Stablecoin issuer Circle (NYSE: CRCL) held firm as well, rising 1.34% and remaining largely insulated from the day’s volatility.
The biggest crypto exchange in the U.S., Coinbase (NASDAQ: COIN), was also showing recovery, trading 1.23% higher.
HOOD, TSLA, Block struggle to rebound
Other crypto-exposed equities failed to catch the bounce. Robinhood (NASDAQ: HOOD) traded 1.79% lower despite improving sentiment in BTC markets.
Tesla (NASDAQ: TSLA) was down 1.22%, with the EV maker still grouped among BTC-treasury-linked stocks due to its digital-asset holdings.
Block Inc. (NYSE: XYZ), which maintains a Bitcoin-focused strategy through its treasury and payments ecosystem, fell 2.55% as investors rotated away from select fintech names.
This article has been published in TheStreet via Yahoo News.
