Crypto-related stocks rally in tandem with Bitcoin's rebound

IconCryptoNewsTerminal Staff15 Jul, 2024

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Crypto-related stocks rally in tandem with Bitcoin's rebound

Bitcoin’s recent price surge has had a positive impact on crypto-related stocks, with many experiencing significant gains. Cipher Mining (CIFR) led the pack with a jump of over 27%, while Marathon Digital Holdings (MARA), Hut 8 (HUT), Riot Platforms (RIOT), and CleanSpark (CLSK) all gained between 15% and 19%. Coinbase (COIN) also performed well, rising over 11% to close at its highest point in a month. MicroStrategy (MSTR) was another notable gainer, climbing 15.3%. Notably, Iris Energy (IREN) bucked the trend, ending the day lower. This decline may be attributed to a recent short-seller report published by Culper Research.