Crypto Stocks Diverge as Bitcoin Hits Highs; Strategy and Galaxy Advance, Coinbase Retreats

Crypto Stocks Split as Bitcoin Climbs Toward Record Highs

11/7/2025

Bitcoin’s latest surge pushed it close to new record highs on Thursday, but the rally left crypto stocks with mixed results, highlighting the market’s uneven reaction to the digital asset’s momentum.

The largest cryptocurrency by market capitalization rose more than 4% during the session, briefly approaching $118,000. At last check, bitcoin was trading near $117,700, up 5.78% in the past 24 hours.

Gainers Riding Bitcoin’s Rise

Among the biggest winners was Strategy (MSTR), the public company holding the largest bitcoin treasury, which gained 3.2%. Galaxy Digital (GLXY), a leading player in institutional crypto trading, rose 4%.

In overseas markets, Japanese firm Metplanet (3350) climbed 2.9%, and France’s The Blockchain Group (ALTBG) jumped 9.3%. Both companies are following Strategy’s model of acquiring bitcoin for their corporate balance sheets.

Bitcoin miners also saw gains as higher bitcoin prices improve profitability. MARA Holdings (MARA) advanced 3.2%, Hive Digital (HIVE) added 2.1%, and Riot Platforms (RIOT) increased 1.5%.

Declines Despite Bitcoin’s Boom

Yet not all mining stocks joined the rally. Cipher Mining (CIFR) slipped 2.5%, while Bit Digital (BTBT) declined 1%.

Some other crypto-related stocks also lagged. Crypto exchange Coinbase (COIN) fell 1.6%. Circle Internet (CRCL), issuer of the USDC stablecoin, dropped 7%. Despite the pullback, Circle shares remain elevated at $204.80 — still more than six times its IPO price of $31 just a month ago.

Meanwhile, Cantor Equity Partners (CEP), which is transforming into a publicly listed bitcoin investment company under the name Twenty One Capital, extended recent gains, rising 8.2% after finishing Thursday up 9%.

Takeaway: Bitcoin’s rally is lifting parts of the crypto sector but not uniformly. While miners and firms tied directly to bitcoin holdings are seeing strength, other players like exchanges and stablecoin issuers are experiencing pressure. Market watchers will be eyeing whether BTC’s momentum can carry the broader crypto stock landscape higher in the days ahead.