Bitcoin Surpasses $72,000, Boosting Crypto-Related Equities

Deep News03-13 20:01

The price of Bitcoin has climbed above $72,000 for the first time in over a week. This upward movement has led to gains in pre-market trading for stocks associated with the cryptocurrency sector, such as Coinbase Global and MicroStrategy. Shares of MicroStrategy rose nearly 4% in pre-market activity, while Coinbase saw an increase of almost 3%. Bitcoin's trajectory has been volatile since the onset of conflict in the Middle East. Shortly after US and Israeli strikes on Iran on February 28th, the price of Bitcoin fell to around $63,000, but it has since recovered. Jake Ostrovskis, the OTC Trading Lead at crypto market maker Wintermute, suggested that surging oil prices and concerns about slowing economic growth are prompting some investors to bet that Bitcoin will benefit from potential government stimulus measures. Ostrovskis also noted that Bitcoin exhibited a similar pattern in April 2025, when its price rebounded following a sharp sell-off triggered by former President Trump's "Liberation Day" tariffs.

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