Why Are Crypto Stocks Up Today?


  • Crypto stocks are rallying today alongside Bitcoin (BTC-USD).
  • The crypto reached a price not seen since 2022.
  • This has investors hoping for more positive action from BTC in 2023.
Crypto Stocks - Why Are Crypto Stocks Up Today?

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Crypto stocks are on the rise Tuesday as investors in the space react to the recent rally of Bitcoin (BTC-USD).

Bitcoin is hot topic among traders with the crypto managing to surpass $35,000 per coin late on Monday night. That’s worth noting as the crypto hasn’t been priced that high since May 2022.

That rally is spreading to stocks that are tied to crypto, especially those with direct links to Bitcoin. It’s likely investors in these companies are seeing the BTC surged yesterday as good news that could show returning strength for the crypto market.

Ryan Rasmussen, analyst at Bitwise Asset Management, said the following to CNBC about the BTC rally:

“I don’t think anyone expected the level of price action we’re seeing, and those investors who were shorting bitcoin in the $33,000 plus range are certainly feeling the pain of that surprise.”

Let’s check in on how some of the top crypto stocks are performing today below!

Crypto Stocks Up on Tuesday

  • Coinbase (NASDAQ:COIN) stock is climbing 10% higher as of Tuesday morning.
  • Robinhood (NASDAQ:HOOD) stock is up 2.5% as of this writing.
  • Riot Platforms (NASDAQ:RIOT) stock is jumping 10.6% on Tuesday morning.
  • Hut 8 Mining (NASDAQ:HUT) stock is rising 5.7% today.

Of course, investors will also note that BTC is up 2.8% over the prior 24-hour period as of Tuesday morning.

Traders seeking out even more of the most recent stock market stories today are in the right place!

We’ve got all of the biggest stock market news that investors need to know about out Tuesday. That includes what’s going on with shares of Overstock (NASDAQ:OSTK), DraftKings (NASDAQ:DKNG) and RTX (NYSE:RTX) stock. You can catch up on these topics down below!

More Stock Market News for Tuesday

Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-are-crypto-stocks-up-today-oct-24th/.

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