Stock Track | Bitcoin Tops $90,000 as Crypto Rally Boosts Stocks, but Coinbase Lags

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Bitcoin's record-breaking rally took the digital asset past $90,000 on Tuesday, lifting the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under the incoming Trump administration.

Crypto stocks surged in premarket trading, riding the wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto-friendly. Bitfarms rose 13%, Bit Digital rose 12%, MicroStrategy rose 8%, Marathon Digital and Canaan rose 6%, while Riot Platforms gained 4.5%.

However, Coinbase Global, the largest U.S. crypto exchange, saw a more muted 5% gain in premarket trading, even as Bitcoin's rally fueled a speculative surge in crypto mining and trading stocks. The stock had earlier plunged 5.32% in pre-market trading, underperforming the broader crypto rally.

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