Crypto stocks surge as Bitcoin breaks above $72,000

CRYPTO-LINKED equities rallied strongly at the open after Bitcoin powered past the $72,000 level, buoying sentiment across the sector. Coinbase (COIN) jumped more than 12 percent in early trading to move above $200, its strongest price since late January. Strategy (MSTR), the largest corporate holder of bitcoin, climbed nearly 9 percemt to a one-month high, according to Coindesk.

Other digital asset-related names also advanced. Galaxy Digital (GLXY), Robinhood (HOOD), and ethereum treasury firm BitMine (BMNR) gained between 6 percent and 8 percent. Stablecoin issuer Circle (CRCL) rose an additional 6 percent, extending its rally to more than 70 percent in the week since releasing its fourth-quarter (Q4) earnings.

Bitcoin miners, which have become increasingly tied to artificial intelligence-driven data center expansion, rebounded following Tuesday’s selloff. Shares of Bitfarms (BITF), Hive Digital Technologies (HIVE), Hut 8 (HUT), and IREN posted gains of 6 percent to 10 percent.

The crypto rally unfolded alongside broader strength in U.S. equities, with both the Nasdaq and the S&P 500 up about 1 percent in early trading.

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Bitcoin surged to $72,600 at the start of the U.S. session, its highest level since early February, before trimming gains to trade around $71,500, still roughly 5 percent higher over the past 24 hours.

The $70,000 to $72,000 range, which has capped multiple rally attempts in recent weeks, is seen as a critical resistance zone that Bitcoin must clear decisively for the current momentum to hold.

According to Wintermute OTC trader, Mr Jasper De Maere, Bitcoin’s recent outperformance versus equities follows two months of sharp underperformance relative to other asset classes, potentially explaining the divergence. He noted that digital assets are less exposed to supply chain disruptions, energy price swings, and other macroeconomic pressures currently weighing on stocks.

De Maere also described equities and crypto as ‘substitute risk-assets,’ suggesting that slowing inflows into stocks amid uncertainty may be prompting capital rotation into digital markets. Still, he cautioned that the trend could reverse if rising energy prices, persistent inflation, and reduced prospects for further rate cuts weigh on sentiment. For now, he expects volatility to persist until clearer macroeconomic signals emerge.