Bitcoin Nears Record High, Crypto Stocks Show Mixed Performance
11/7/2025
Bitcoin’s latest climb toward historic highs sent ripples through crypto equities on Thursday, with some stocks advancing in tandem while others lagged despite the broader rally.
The leading cryptocurrency rose more than 4% during the session, trading around $117,700 at the latest check—a 5.78% increase over the previous 24 hours—as it edged closer to the $118,000 mark.
Winners in the Crypto Rally
Strategy (MSTR), the largest corporate bitcoin holder among publicly listed firms, added 3.2%. Galaxy Digital (GLXY), known for its institutional crypto services, advanced 4%.
Internationally, Japanese firm Metplanet (3350) gained 2.9%, while The Blockchain Group (ALTBG) surged 9.3% in Paris. Both companies have followed Strategy’s model of adding bitcoin to their balance sheets.
Bitcoin miners benefited from the higher price environment, with MARA Holdings (MARA) rising 3.2%, Hive Digital (HIVE) gaining 2.1%, and Riot Platforms (RIOT) up 1.5%. Rising bitcoin prices enhance miners’ revenue potential by boosting the value of mined coins.
Losers Despite Bitcoin Strength
However, the gains weren’t universal. Cipher Mining (CIFR) fell 2.5%, and Bit Digital (BTBT) slipped 1%.
Crypto exchange Coinbase (COIN) declined 1.6%. Circle Internet (CRCL), the issuer of the USDC stablecoin, dropped 7%. Nonetheless, Circle remains significantly elevated at $204.80, more than six times its IPO price of $31 from just a month earlier.
Cantor Equity Partners (CEP), which is transitioning into a publicly traded bitcoin investment firm under the name Twenty One Capital, continued to climb, finishing up 8.2% after a 9% rally the previous day.
Bottom Line: Bitcoin’s surge is propelling parts of the crypto equity market higher, especially firms tied directly to bitcoin holdings or mining. Yet, other sectors like exchanges and stablecoin issuers are seeing pressure, underscoring that not all crypto stocks move in lockstep with bitcoin’s price action.
