Bitcoin’s rally and US Crypto Stocks’ Performance
Bitcoin recently surged past $110,500 but has since dipped slightly. Despite this, the leading cryptocurrency is still a top performer. Interestingly, US crypto-linked stocks have risen with bitcoin, showing a strong correlation.
Over the past month, crypto stocks have seen double-digit gains, outperforming Bitcoin’s modest 4% rise. This trend suggests a growing interest in crypto stocks. Companies like Circle Internet Group (CRCL) and others are attracting attention. Circle’s stock, however, faced a setback, dropping nearly 8% after its Nasdaq debut. Despite Bitcoin’s slight decline, crypto stocks remain strong. This indicates a shift in investor preference towards stocks rather than direct crypto investments.
Bitcoin’s price is nearing its all-time high, with a 2% gap remaining. If it breaks this level, it could reach $122,172. Technical indicators like RSI and MACD suggest positive momentum. However, economic data, especially tomorrow’s U.S. inflation report,could impact this trend.
US crypto stocks are also gaining traction. Circle Internet Group’s (CRCL) stock, despite a recent dip
