Cryptocurrency stocks like Strategy, Bitmine Immersion Technologies, and Coinbase rose significantly due to a $3.3 billion short squeeze in leveraged crypto bets, mostly on Bitcoin and Ethereum. Bitcoin jumped 10% and Ethereum 18%, marking the largest liquidation event of 2026, driving crypto stocks up despite broader tech stocks falling. Strategy's stock tracks Bitcoin gains due to its large Bitcoin holdings, while Bitmine Immersion Technologies benefits from Ethereum's stronger rally. Coinbase gains from increased trading volume amid volatility. Investors should watch if gains hold beyond the squeeze, as this rally may be temporary and driven by forced liquidations rather than organic buying.
Coinbase's stock dropped 11% following a record $6.3 billion hack at Binance and disappointing Q3 2026 earnings, with net revenue down 34% year-over-year and trading revenue falling 44%. Despite a $715 million crypto investment gain boosting net inco...
Strive purchased 6,182 Bitcoin last week, increasing its holdings to 43,000 BTC, while Strategy Inc., the largest corporate Bitcoin holder, paused its Bitcoin buying to spend $205 million on stock buybacks. This shift leaves Strive as the main corpor...
