Crypto Stocks Soar as Bitcoin and Altcoins Rebound, Weak US Jobs Data Weighs on Interest Rates

Crypto stocks like Coinbase, BitMine, and Strive have seen significant jumps in the premarket, with Coinbase rising by 3.5% and BitMine soaring by 2.8%.

This rally comes as Bitcoin and most altcoins rebounded, with the total trading volume across the crypto market jumping to over $103 billion and futures markets involved seeing a 10% increase to over $225 billion.

The US releasing weak jobs data, with only 29,000 jobs created in September and a downgraded August jobs report, has also contributed to the rally, as the Federal Reserve is likely to hold interest rates steady.

Additionally, the rising demand for tokens has driven up the value of these stocks, with spot Bitcoin ETFs adding over $102 million this month and other altcoin ETF inflows continuing to grow.