This Friday, following Bitcoin’s stabilization near $69,500, Strategy and Coinbase shares rebounded sharply. A market report indicates that MicroStrategy (MSTR) rose by 22%, while Coinbase (COIN) and BitMine (BMNR) recorded gains of 10% and 15% respectively, recovering ground after Thursday’s severe losses.
This Strategy rally occurs despite the firm reporting quarterly losses of $12.4 billion and its treasury of 713,502 BTC temporarily falling “underwater.” Analysts from BTIG and Canaccord Genuity slashed their price targets for MSTR but maintained their buy ratings, trusting in the firm’s “digital fortress” model.
In the coming hours, the community will be watching to see if Bitcoin can consolidate support at $60,000 to sustain this relief in equity markets. Investors will be keeping an eye on BitMine’s staking income flows and the impact of volatility on Coinbase’s transaction fees during the upcoming sessions.
Source:https://bitcointreasuries.net/
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