Bitcoin’s rally above $79,000 drove double-digit gains in crypto-related stocks, fueled by U.S. Treasury bond buybacks boosting risk appetite.
Bitcoin’s climb above $79,000 triggered a broad rally in crypto-related stocks, with miners and treasury companies posting gains of up to 25%. The surge followed the U.S. Treasury’s announcement to double long-dated bond buybacks, aimed at improving market liquidity and supporting risk assets.
Canaan led the gains among Bitcoin miners, rising over 25%, while MARA Holdings and Strive, which holds 20,000 BTC, each jumped more than 16%. Japan-listed Metaplanet, which recently expanded its Bitcoin treasury strategy, also saw a 16% increase. Ether (ETH) rose nearly 30% over the week, surpassing $2,400.
The rally extended to crypto exchanges and brokerages, with Coinbase and Robinhood posting double-digit percentage gains. Bitcoin’s weekly advance reached 23%, reflecting renewed investor confidence in digital assets.