Bitcoin Surge Sparks Crypto Stock Rally, Miners and Treasuries Soar
Crypto stocks surged at the end of the week as Bitcoin reclaimed its recent trading range. The rally coincided with an announcement from the US Treasury to double certain long-dated bond buybacks, aimed at supporting liquidity in the Treasury market.
The move above $79,000 helped lift publicly traded miners and crypto treasury companies, including Canaan, Strive, and Metaplanet. These stocks rose by more than 16% on Friday, mirroring the strength in the underlying crypto complex.
Crypto exchange and brokerage stocks like Coinbase and Robinhood also advanced sharply, reflecting spillover from BTC's strength. The US Treasury's decision to double long-dated bond buybacks and renewed calls for the CLARITY Act by Donald Trump added fuel to the rally.