Bitcoin Tastes $48,000 As Ethereum And Avalanche Follow, Led By Record ETF Asset Inflows: The Week In Retrospect
Portfolio Pulse from Khyathi Dalal
Bitcoin surged to $48,000, driven by spot Bitcoin ETF inflows, marking its third-best inflow day. Ethereum and Avalanche also saw movements, with Avalanche gaining 3.3%. MicroStrategy's Bitcoin holdings increased by 50% to $9 billion, and Coinbase Global's stock rose 7.2% amid the crypto rally. The global cryptocurrency market cap increased by 1.25% to $1.78 trillion. Analysts remain bullish on Bitcoin, anticipating a rally to $50,000 leading up to the Bitcoin halving event in April 2024.
February 10, 2024 | 2:08 pm
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Coinbase Global's stock rose 7.2% amid a broader cryptocurrency rally, with the company set to report its quarterly earnings on Feb. 15.
Coinbase Global's stock price increase is directly linked to the broader cryptocurrency rally, particularly Bitcoin's surge. As a major cryptocurrency exchange, Coinbase benefits from increased trading volumes and investor interest during such rallies. The upcoming earnings report could further influence the stock's short-term performance, depending on the company's financial results and future outlook.
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