“Strategy, MARA Holdings and Galaxy Digital are among crypto-related stocks posting double-digit percentage gains early Friday.”, — write: www.coindesk.com
Even with the bounce, bitcoin remains down 2% over the past 24 hours. Ether ETH$1,926.58 is lower by 3% and solana SOL$81.57 by 5% Outperforming is XRP XRP$1.3696which has climbed to $1.47, now higher by 8% over the last day.
Crypto-related stocks are seeing major upside moves Friday after plunging in the previous session.
Strategy (MSTR) — which reported a $14.2 billion fourth-quarter loss late Thursday — is higher by 14%, although at $122, still lower by 22% year-to-date. Galaxy Digital (GLXY) is up 15% and bitcoin miner MARA Holdings (MARA) is up 12%.
Underperforming on Friday was bitcoin miner-turned AI infrastructure provider IREN (IREN), down 1.8% after disappointing earnings results Thursday night.
Saylor gets serious about QuantumThose looking for bottom signals are pointing to last night’s Strategy earnings call in which Michael Saylor pledged a commitment to leading a Bitcoin security program that will address the quantum threat.
Some in crypto have argued that bitcoin’s security model faces a serious threat from quantum computing — a threat so imminent that many investors are either selling or refusing to allocate to bitcoin at all.
“Saylor’s announcement tells me prices have finally gotten the Bitcoin community to acknowledge and address quantum risk,” Quinn Thompson wrote.
Poised for technical bouncePaul Howard, director at crypto trading firm Vincent, noted that bitcoin is now back at price levels last seen 14 months ago with key momentum indicator RSI flashing deeply oversold conditions. He added that trading volumes in BTC and ETH have surged to their highest in over two years. That technical setup that often invites at least a short-term bounce.
“It would be odd if we did not see at least some short-term reversion here,” he said.