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      Crypto Stocks Rise as Bitcoin Approaches $80,000

      Crypto-related stocks experienced significant gains on Thursday as Bitcoin neared the $80,000 mark, rising over 5% to approximately $79,800. This surge in Bitcoin's value coincided with a decrease in expectations for a Federal Reserve interest rate hike later this month, following a rise in jobless claims that suggested potential weakness in the labor market.

      Notable stock movements included a 10% increase for MicroStrategy (MSTR) and Galaxy Digital (GLXY), a 9% rise for Coinbase Global (COIN), and a 15% jump for Robinhood Markets (HOOD). The probability of a 25-basis-point rate increase at the Federal Open Market Committee's upcoming meeting decreased from 63.2% to 50.4%, influenced by comments from Fed Governor Christopher Waller regarding inflation and interest rates.

      In addition to Bitcoin, other cryptocurrencies also saw upward movement, with Ethereum rising 2.8% to around $2,460, Binance Coin increasing by 34% to $719.30, and XRP gaining 6.6% to $1.42. Robinhood's stock performance was bolstered by its chain generating $4.32 million in revenue over the past 24 hours, outperforming competitors such as Solana and Ethereum.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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