Coinbase, Strategy lead crypto stocks higher as bitcoin spikes above $72,000

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Coinbase, Strategy lead crypto stocks higher as bitcoin spikes above $72,000 Crypto-related equities saw large gains at the Wednesday open, rebounding from Tuesday's selloff. By Krisztian Sandor , Helene Braun | Edited by Stephen Alpher Mar 4, 2026, 3:11 p.m. Make us preferred on Google What to know : Crypto-related stocks rallied at the open of Wednesday's U.S. session as bitcoin briefly climbed above $72,000 for the first time in nearly a month. COIN, MSTR, GLXY, HOOD surged 8%-12%, with miners BITF, HUT, IREN also bouncing. Bitcoin's move into the closely watched $70,000 to $72,000 range, which has capped recent rallies, is a key test of whether the latest advance can be sustained. Crypto-related stocks opened the Wednesday U.S. session with sizable gains as bitcoin BTC $ 71,150.61 surged above $72,000 for the first time in almost a month. Crypto exchange Coinbase (COIN) jumped above $200 to its strongest price since late January, up 12% in the first minutes of trading. Strategy (MSTR), the largest corporate bitcoin holder, advanced nearly 9% to a one-month high. Galaxy Digital (GLXY), Robinhood (HOOD) and Ethereum treasury firm BitMine (BMNR) were up 6%-8%. Stablecoin issuer Circle (CRCL) climbed another 6%, now up over 70% in the week since its fourth-quarter earnings report. Bitcoin miners, increasingly tied to the artificial intelligence data center buildout, also rebounded following the Tuesday selloff. Bitfarms (BITF), Hive (HIVE), Hut 8 (HUT) and IREN saw 6%-10% gains. The broader U.S. equity market was also seeing gains, with the Nasdaq and S&P 500 each higher by about 1% in early action. The strong early showing came as bitcoin jumped to $72,600 at the start of the U.S. session, its highest price since early February. Recently, it pared some of the gains and retreated to $71,500, still up roughly 5% over the past 24 hours. The $70,000-$72,000 range, which capped previous rally attempts over the past month, is a crucial zone for bitcoin to overcome if this rally is to last. Bitcoin's outperformance over equities comes after crypto assets have massively underperformed any other asset class over the past two months, which could explain why it is now diverging, according to Wintermute OTC trader Jasper De Maere. Another factor could be that, unlike stocks, digital assets are not tied to supply chains, energy costs, or other narratives that seem to be weighing on prices, he wrote in a note. De Maere also argued that equities and crypto have become "substitute risk-assets." With uncertainty slowing inflows into stocks, capital may be rotating into digital assets instead. “Uncertainty is slowing down inflows in equities, which creates opportunity for crypto, which is what we’re seeing now,” he said. Still, he cautioned that the outperformance may not last. "The situation is fluid," and a chain reaction of longer tension resulting in higher energy prices, sticky inflation, which could lower the odds of another rate cut, would be negative for crypto. For now, he expects volatility to persist until there is greater clarity. Market Wrap Bitcoin News Coinbase MicroStrategy Breaking News More For You Pudgy Penguins: Challenging the Pokemon and Disney Legacy in the Global IP Race By CoinDesk Research Feb 27, 2026 Commissioned by Pudgy Penguins CoinDesk Research looks into how Pudgy Penguins disrupts traditional toys market via a phygital model. With 2M+ units sold, they scale via global partnerships and events. What to know : Disrupting a Stagnant Market : Pudgy Penguins is utilizing a "Negative CAC" model to challenge the traditional $31.7B licensed toy industry by treating physical merchandise as a profitable user acquisition tool rather than just a final product. View Full Report More For You Bitcoin 'air pocket' above $72,000 could mean quick run to $80,000 By James Van Straten | Edited by Stephen Alpher 13 minutes ago Data shows an extraordinarily thin supply between $72,000 and $80,000, suggesting there's little resistance in that range. What to know : Glassnode data shows roughly just 1% of bitcoin’s circulating supply sits between $72,000 and $80,000, creating a low resistance zone often referred to as an “air pocket.” CoinDesk Research notes more than 400,000 BTC were accumulated between $60,000 and $70,000 during the recent pullback, potentially strengthening support below current levels. 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