Bitcoin Rallies Above $93,000 as Crypto Outperforms Stocks
Bitcoin (BTC$84,578.75) bounced back above $93,000 Tuesday morning after dipping below $90,000 overnight, marking a roughly 1% gain over the past 24 hours. The rebound comes as U.S. stocks continue to struggle, with the Nasdaq down 1.1% and gold slipping 0.3%.
Altcoins saw stronger gains, with ether (ETH$2,751.02), Solana (SOL), BNB (BNB$827.99), and XRP (XRP$1.9505) rising between 2.5% and 4%. While the crypto outperformance is currently limited to a short-term move, it provides hope for bulls after months of underperformance relative to stocks and gold.
Crypto-related equities also bucked the broader market trend. MicroStrategy (MSTR) led the gains, climbing 8.3% following a 30% decline last month. ETH-focused Bitmine Immersion (BMNR) rose 7% after losing 40% over the previous month, while Coinbase (COIN), Circle (CRCL), and Bullish (BLSH) each gained around 1.5%.
About The Author
More Stories
XRP Posts an 89% Surge Over the Past Year While Bitcoin, Ether, and the CD20 Index Lag With Mild Performance
Citadel Securities Puts $200M Into Kraken as Exchange Closes $800M Raise
LINK rebounds 4% to trade near $14, leading gains as sentiment improves across cryptocurrencies.