Bitcoin Rally Sparks Coinbase, IBIT Surge at US Market Open

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Bitcoin Rally Sparks Coinbase, IBIT Surge at US Market Open

BE[IN]CRYPTO11-12

Coinbase spiked 13% Monday as U.S. markets opened, driven by Bitcoin’s recent bull run above $80,000. BlackRock’s Bitcoin ETF, IBIT, also gained, suggesting ongoing TradFi interest in crypto assets. ...

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BlackRock’s IBIT ETF also gained, signaling sustained bullish momentum for Bitcoin-linked traditional finance  products.Bitcoin’s impressive gains over the past week appear to be driving growth across related sectors, strengthening investor confidence in the broader crypto market.As of yet, it is unclear which other exchanges might post similar gains from Bitcoin’s rally. Binance, another leading exchange, was hit with a major lawsuit, possibly complicating its immediate price trajectory. In any","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4550":"红杉资本持仓","IE00B64PRP62.GBP":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","BK4588":"碎股","IBIT":"iShares Bitcoin Trust","IE00B3QW5Z07.USD":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","BLK":"贝莱德","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC","BK4551":"寇图资本持仓","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","IE00BGHQF631.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) ACC","BK4581":"高盛持仓","LU1861558580.USD":"日兴方舟颠覆性创新基金B","COIN":"Coinbase Global, Inc.","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","BK4135":"资产管理与托管银行","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","BK4112":"金融交易所和数据","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","BK4539":"次新股","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","BK4554":"元宇宙及AR概念","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","LU1481011911.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USDHDG) INC","LU0731783048.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) INC MONTHLY (G)","BK4594":"比特币ETF概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0772969993.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) ACC","BK4595":"比特币概念","FDN":"First Trust Dow Jones Internet I","LU0742537680.HKD":"FIDELITY GLOBAL DIVIDEND \"A \" (HKD) INC","LU1481011671.HKD":"FIDELITY GLOBAL DIVIDEND \"A\" (HKDHDG) INC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC"},"translate_title":"比特币反弹引发Coinbase、IBIT在美国市场开盘飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IBIT":1,"COIN":1,"FDN":0.9,"BLK":0.9},"content_text":"Coinbase spiked 13% Monday as U.S. markets opened, driven by Bitcoin’s recent bull run above $80,000.\nBlackRock’s Bitcoin ETF, IBIT, also gained, suggesting ongoing TradFi interest in crypto assets.\nCoinbase CEO Brian Armstrong anticipates pro-crypto regulations post-election, bolstering market optimism.\n\nCoinbase’s stock surged by 13% as US markets opened on Monday, reflecting a strong response to Bitcoin’s recent rally. BlackRock’s IBIT ETF also gained, signaling sustained bullish momentum for Bitcoin-linked traditional finance (TradFi) products.\nBitcoin’s impressive gains over the past week appear to be driving growth across related sectors, strengthening investor confidence in the broader crypto market.\nCoinbase’s Morning Spike\nSince Donald Trump’s re-election and a cocktail of other bullish market factors, Bitcoin has been booming. Its all-time high has surpassed $80,000, and many other areas of the crypto space have come along for the ride. This strong momentum has carried into another new sector today, as trading data shows that popular exchange Coinbase spiked 13% at market open. \nCoinbase Stock Performance. Source: Yahoo Finance\nCoinbase saw a dramatic jump as soon as trading began Monday morning, and it has continued to rise. At the time of writing, The firm’s stock value is nearly at $320 a share, the highest level since its ATH in November 2021. Binance, another leading crypto exchange, has also jumped since Trump’s election, but this rally is less immediately pronounced.\nThis 9 AM trade bump has impacted several Bitcoin-adjacent TradFi offerings. For example, Bloomberg analyst Eric Balchunas noted that ETF gains over the weekend will only be visible once traditional markets open, and they cannot take advantage of Bitcoin’s 24/7 trades. However, BlackRock’s IBIT quickly made up for lost time.\n\n“IBIT has seen $1 billion in volume in first 35 minutes. [The] day after [the] election, it did that in 20 minutes, so a bit less than last Wednesday, but still pretty intense. Pretty good early indicator of strong inflows this week,” said Balchunas.\n\nIBIT, BlackRock’s Bitcoin ETF, was already enjoying a commanding lead over the wider market. These continued strong gains suggest an enduring momentum for crypto TradFi products, as opposed to a temporary burst of hype. Coinbase is also enjoying this pattern of delayed gains, suggesting that exchanges may also see prolonged benefits. \nCoinbase’s CEO, Brian Armstrong, already anticipated that US election results would bring friendly regulation to the industry. However, Coinbase might have a new avenue for profit here earlier than expected. Obviously, exchanges will benefit from heightened trade volumes and new users, but resurgent stock prices could turbocharge the positive effects.\nAs of yet, it is unclear which other exchanges might post similar gains from Bitcoin’s rally. Binance, another leading exchange, was hit with a major lawsuit, possibly complicating its immediate price trajectory. In any event, however, this trade spike is clear evidence of a continued bullish pattern for the industry.\n\n\n\n\nBest crypto platforms in Europe | November 2024\n\n\n\nYouHodler\nExplore\n                      \n\n\n\n\n\nWirex App\nExplore\n                      \n\n\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nBYDFi\nExplore\n                      \n\n\n\n\n\nMargex\nExplore\n                      \n\n\n\n\n\n\n\n\nBest crypto platforms in Europe | November 2024\n\n\nYouHodler\n\n\n\n\n\n\n\n\nWirex App\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\nBYDFi\n\n\n\n\n\n\n\n\nMargex","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}