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Bitcoin is nearing the $70,000 mark, marking its best weekly performance in over a month, with the cryptocurrency up around 9% this week, trading close to $68,800. This rise has boosted the performance of crypto-related stocks, including Coinbase, Hut 8, and others, which have seen notable gains.
Bitcoin miners such as Hive Digital and Hut 8 surged nearly 15% on Friday, while other miners like CleanSpark, Riot Platforms, and Bitfarms posted gains between 7% to 10%. Major crypto exchange Coinbase’s stock increased by almost 8%, while corporate bitcoin holder MicroStrategy’s stock rose by more than 11%.
Ethereum and Solana also saw significant gains, with Ethereum up 8.3% and Solana rising 7.2% over the same period. These gains in the cryptocurrency market outpaced the growth in traditional indices such as the S&P 500 and Nasdaq, which each rose less than 1% over the past five trading sessions.
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Total liquidations across centralized exchanges reached $113 million in the past 24 hours, with $30 million in Bitcoin liquidations alone, driven by the strong price surge. Earlier in the week, Bitcoin’s rebound to $68,000 triggered nearly $300 million in liquidations in a single day.
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