Bitcoin Nears $93K After 10% Two-Day Rally; Crypto Stocks Continue Uptrend
Bitcoin erased an early dip to $91,800 on Wednesday and climbed back toward $93,000 by the afternoon. After a swift 10% gain over the past two days, the cryptocurrency is now encountering resistance near the 2025 yearly open at $93,400—a level that will need to be decisively reclaimed for the rally to extend higher.
Ethereum’s ether also advanced, reclaiming $3,100 and reaching a two-week high. Ether rose 3.5% over the past 24 hours, outperforming bitcoin’s roughly 1% gain during the same period.
Markets briefly faltered in the morning following a report from The Information that Microsoft (MSFT) was lowering AI software sales quotas due to slower-than-expected adoption. The report knocked nearly 3% off MSFT shares and dragged the Nasdaq into negative territory, though Microsoft later denied the claims.
Crypto Stocks Gain Momentum
Crypto-related stocks extended their rally as well. USDC issuer Circle (CRCL) and exchange Gemini (GEMI) surged nearly 10%, while Coinbase (COIN), Galaxy Digital (GLXY), and Robinhood (HOOD) each rose about 5%. Bitcoin miners also saw gains, led by IREN with a 6% increase.
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