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Markets Rally on US-China Optimism, New Tether-SoftBank Bitcoin Treasury Firm, and Nearly $1 Billion in Bitcoin ETF Inflows — This Week in Review
As digital assets shined on Tuesday, crypto-linked equities rallied in tandem. Coinbase closed the day up 8.57%, while Strategy’s (formerly MicroStrategy) common stock rose 7.95%.
Bitcoin Stalls as Crypto Stocks Surge: Public Miners Post Double-Digit Gains
Publicly traded firms tied to the crypto sector outpaced Bitcoin’s own performance on April 22. Strategy (MSTR) saw its shares climb 7.95% during the session, adding 9.87% over the past week and 16% over the last month. Since the start of the year, MSTR has gained over 14% against the U.S. dollar. Strategy’s Series A Perpetual Strike preferred shares (STRK) also edged up 1.54%.
Coinbase (COIN) soared 8.57% and is up 2.39% over the past 30 days, despite a 25.92% year-to-date decline. In the mining sector, Bitdeer Technologies Group (BTDR) led the rally with a 23.42% jump, followed by Galaxy Digital Holdings Ltd. (GLXY) up 18.40%. Cleanspark, Inc. (CLSK) added 17.40%, while Terawulf, Inc. (WULF) rose 17.78%.
Week in Review
Crypto equities surged alongside digital tokens amid renewed optimism around U.S.-China relations. Jack Mallers was named head of a new Bitcoin treasury firm, backed by Tether and SoftBank, launching with over 42,000 BTC. Bitcoin ETFs recorded strong inflows nearing $1 billion, with BlackRock’s IBIT leading the charge. In meme coins, TRUMP and MELANIA tokens spiked after introducing new perks for top holders. Meanwhile, Bitcoin crossed the $94K mark before retreating slightly.