Crypto Stocks on the Run as Bitcoin Eyes New ATH: COIN, BITF, and MSTR In Spotlight

Bitcoin (BTC) price is currently eyeing a new all-time high (ATH) amid renewed momentum in the market. The rising Bitcoin price has sparked a recent rally in crypto stocks.

Shares of Coinbase (COIN), Bitfarms (BITF), and Strategy (MSTR) have shown bullish performance over the past 24 hours.

Bitcoin Price Sentiment and Market Ripple Effect

According to data from market data, Bitcoin price hovered around $120,178 as of this writing. BTC climbed as high as $122,370 earlier today before dropping to the current level.

The leading cryptocurrency moved less than $600 away from hitting its all-time high. The upward momentum is likely to continue as long as favorable sentiments remain.

If this happens, BTC could easily surpass its ATH of $122,946 and hit new highs. Market participants are currently eyeing a potential breakout of the $123,236 resistance.

For now, the broader crypto stocks and altcoin market have benefited from the ongoing BTC rally. Ethereum (ETH), the leading market altcoin, has rallied over 1.4% over the past 24 hours.

Currently, ETH is priced at $4,278, representing a 17.6% increase over the past 7 days.

Other altcoins like XRP, Solana (SOL), Binance Coin (BNB), and Dogecoin (DOGE) also benefited from the BTC rally. These digital assets surged 0.9%, 1.6%, 0.5% and 2.2% over the previous day.

Furthermore, crypto analyst Walter Bloomberg on X pointed out rallies from COIN, BITF, and MSTR stocks alongside BTC soaring prices.

The analyst noted these crypto stocks rallied 4.3%, 2.8%, and 3.1%, respectively, within 24 hours.

Crypto Stocks: COIN, BITF, and MSTR Outlook

As of this writing, Google Finance data showed COIN traded at $329.7, demonstrating a 6.2% increase over the previous day.

COIN traded within the daily range of between $320.32 to $329.57, within a market cap of $84 billion.

Recall that the COIN stock dropped 15% after Coinbase released its Q2 earnings report, with the price hovering at $321. Thus, the latest rally is seen as a bold move by the crypto stock.

The COIN rally also follows a positive Coinbase sentiment from brokerage firm Bernstein. Analysts at Bernstein believe Coinbase will become the biggest beneficiary of the next altcoin rally.

They cited Coinbase’s over 250 listed tokens and integration of Base chain tokens with the Coinbase App as key factors.

As regards BITF, the stock is currently priced $1.74, up 1.75% in premarket trading. The surge in BITF follows news that MMCAP International Inc. SPC trimmed its holdings in Bitfarms by 11.2% in Q1, 2025.

MSTR stock, on the other hand, has rallied 3.6% in pre-market trading. MSTR traded within the range of $402.80 – $414.36.

Meanwhile, Strategy Chairman, Michael Saylor, announced the firm has acquired an additional 155 BTC, valued at $18.0 million.

This purchase pushed Strategy’s total Bitcoin holdings to 628,946 BTC, acquired at approximately $73,288 per BTC.

More Crypto Stocks Rallies in View?

Shares of Circle (CRCL) have also jumped 6.8% to $165.8, according to data from Yahoo Finance.

At the same time, BTC miners, including Mara Holdings (MARA) and Riot Platforms (RIOT) advanced more than 0.8% and 0.44%.

However, many investors expect prices of crypto stocks to cool down in August, given their outstanding performance in the second quarter.

Historically, August has proven a weak trading month for trading, including in the crypto market.

Thus, if history repeats this month, the prices of crypto stocks could drop drastically. For now, market participants are enjoying the market rally, and only time will tell the next move.