US Stocks Bounce Back: Crypto-Related Shares See Significant Gains

On Monday, cryptocurrency-related stocks made a significant recovery in the US stock market. Circle (CRCL.US) led the pack, surging over 11%, followed closely by Bitmine Immersion Technologies (BMNR.US), which rose more than 8%. Other notable gains were seen in Coinbase (COIN.US), Robinhood (HOOD.US), and Strategy (MSTR.US), all of which gained more than 7%. CleanSpark (CLSK.US) and MARA Holdings (MARA.US) also climbed over 5%.

Bitcoin's price jumped more than 4%, breaking through the $66,000 mark, while Ethereum soared nearly 10%, surpassing $1,800. Strategy founder Michael Saylor stated on social media that the company has recently acquired 1,587 Bitcoins, investing approximately $100 million, bringing its total Bitcoin holdings to 846,842.

Bitmine's chairman noted in a recent letter that the company purchased an additional 76,881 Ethereum (ETH) over the past week, maintaining a relatively frequent pace of accumulation. The company believes the current pullback in ETH prices does not reflect improvements in Ethereum's fundamentals and sees the crypto market as being in the early stages of a bull run.