Bitcoin Nears $93K After 10% Rally; Crypto Stocks Extend Gains
Bitcoin rebounded from an early dip to $91,800 on Wednesday, climbing back toward $93,000. After a sharp 10% rally over two days, the largest cryptocurrency now faces resistance near the 2025 yearly open at $93,400. Bulls will need a decisive push above this level to continue the upward momentum.
Ethereum’s ether also advanced, reclaiming $3,100 and marking its highest price in two weeks. Ether gained 3.5% over 24 hours, outpacing bitcoin’s roughly 1% rise.
Markets were briefly rattled by a report from The Information claiming Microsoft (MSFT) had lowered AI software sales quotas amid slower-than-expected adoption. Microsoft shares dipped nearly 3%, pulling the Nasdaq into negative territory, though the company later denied any change to quotas.
Crypto Stocks Lifted by Bitcoin Momentum
Crypto-related equities extended their rally. USDC issuer Circle (CRCL) and exchange Gemini (GEMI) jumped nearly 10%, while Coinbase (COIN), Galaxy Digital (GLXY), and Robinhood (HOOD) each gained around 5%. Bitcoin miners also moved higher, led by IREN with a 6% increase.
