Crypto stocks rise as bitcoin rebounds past $96,000
14/01/2025 13:53
** Shares of cryptocurrency and blockchain companies rise in
premarket trade as bitcoin recovers from a Monday selloff
** Bitcoin BTC= , the world's biggest cryptocurrency, last
up 2.4% at $96,389.21, after slumping below $90,000 on Monday
** Crypto exchange Coinbase Global COIN.O rises 3.8%
** Crypto miners recover ground: Riot Platforms Inc RIOT.O
up 3.9%, MARA Holdings MARA.O up 3.8%, Hut 8 HUT.O up 4.6%
** BTC buyer MicroStrategy MSTR.O rises 3.4%
** iShares Bitcoin Trust ETF IBIT.O rises 3.1%
** Bitcoin has been volatile after initial surge following
Donald Trump's victory in the U.S. presidential election, as
investors gauge the likelihood of Federal Reserve rate cuts this
year
** Digital asset investment products saw outflows of $940
million during the latter half of last week after the release of
the Fed's Dec meeting minutes and stronger-than-expected labor
market data, as per CoinShares data
** "This suggests the post-U.S. election honeymoon is over,
and macroeconomic data is once again a key driver of asset
prices" - CoinShares analysts
** Bitcoin products saw net inflows of $214 million last
week, CoinShares says
** BTC up just 0.5% this month to date
(Reporting by Lisa Mattackal)