Bitcoin recently surged past $90,000, triggering significant stock price increases for Coinbase, MicroStrategy, and Riot Platforms. Coinbase is up 10.2%, MicroStrategy has risen 9.3%, and Riot Platforms saw a 13.2% increase. These stocks are trying to recover from their respective year-to-date losses, with each showing signs of technical support and resistance levels influencing their performance.
Bitcoin (BTC) has recently climbed back above $90,000, following significant inflows into U.S. exchange-traded funds (ETFs) linked to its price. The inflows amounted to $381.4 million, marking the largest daily total since January. This surge in Bitcoin’s value has led to a corresponding rise in the shares of several crypto-related companies, notably Coinbase Global Inc (NASDAQ:COIN), MicroStrategy Inc (NASDAQ:MSTR), and Riot Platforms Inc (NASDAQ:RIOT).
Coinbase Global Inc (COIN) has experienced a price increase of 10.2%, reaching $192.78. This rise helps reduce its year-to-date deficit of 23.7%. The stock has rebounded from a 52-week low of $142.58 recorded on April 7, indicating a potential recovery after finding support at the $175 level. It is currently facing resistance at the 40-day moving average, established in late February.
MicroStrategy Inc (MSTR) has also seen a significant uptick, with shares up by 9.3%, trading at $347.37. This marks its fourth consecutive daily gain and a notable 19.3% increase for the 2025 year-to-date. The stock has appreciated by 161.1% year-over-year, with upward momentum supported by its 20-day trendline, achieving its highest level since January.
Riot Platforms Inc (RIOT) shares rose by 13.2%, reaching $7.12. This increase comes as the stock recovers from an approximate two-year low of $6.19 recorded on April 17. Despite today’s rally, the stock has been on a downward trend since January, facing resistance from a descending 20-day trendline. To date, Riot Platforms has dropped by 29.6% this year.
