{"id":35695,"date":"2024-08-08T19:13:53","date_gmt":"2024-08-08T19:13:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-and-microstrategy-climb-as-bitcoin-reclaims-59k\/"},"modified":"2024-08-08T19:13:53","modified_gmt":"2024-08-08T19:13:53","slug":"coinbase-and-microstrategy-climb-as-bitcoin-reclaims-59k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-and-microstrategy-climb-as-bitcoin-reclaims-59k\/","title":{"rendered":"Coinbase and MicroStrategy climb as Bitcoin reclaims $59k"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Coinbase and MicroStrategy stocks rose 6% and 7% respectively as Bitcoin surged to above $59,000.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Analysts say crypto markets may be choppy amid potential bearish catalysts.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Coinbase and MicroStrategy stocks have climbed more than 6% each on Aug. 8 (as of 2 pm ET), gains that come as the <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">price of Bitcoin<\/a> broke above $59,000. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The Coinbase (COIN) stock traded around $192.30 while <a href=\"https:\/\/coinjournal.net\/news\/tag\/microstrategy\/\">MicroStrategy<\/a>\u2019s MSTR hovered near $134. 23.<\/span><\/p>\n<p>Read more: <a href=\"https:\/\/coinjournal.net\/news\/michael-saylors-bet-on-bitcoin-paying-off-his-btc-holdings-now-valued-at-1b\/\"><span style=\"font-weight: 400\">Michael Saylor\u2019s bet on Bitcoin paying off, his BTC holdings now valued at $1B<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin\u2019s surge sees it extend recent momentum since reclaiming support above $50,000. According to data on CoinGecko, the flagship cryptocurrency is up 7% in the past 24 hours. Losses over the past week have shrunk to about 5%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Amid this, crypto analyst Ali Martinez says long-term holders have aggressively bought the recent dip.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">While we got liquidated trading <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> futures during the recent dip to $49,000, long-term <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> holders were buying. They added over 184,500 <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> to their portfolios, worth around $10 billion! <a href=\"https:\/\/t.co\/zTL04qy8qQ\">pic.twitter.com\/zTL04qy8qQ<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1821468766804263235?ref_src=twsrc%5Etfw\">August 8, 2024<\/a><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400\">Short term outlook<\/span><\/h2>\n<p><span style=\"font-weight: 400\">This positive movement for BTC comes as XRP led the crypto market higher after the latest court ruling in the Ripple vs. SEC case. XRP traded to above $0.63 to help Stellar (XLM) and other altcoins higher. Ethereum also breached the $2,600 mark.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, XRP is poised at a key resistance zone and Ethereum may yet have to battle bearish pressure from potential selling.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThere is a potential cap on the topside in the near term with Jump Trading continuing its ETH liquidations (21,394 $wstETH ~$63.6M left) and Plus Token Ponzi 2 ETH wallets moving a total of 25,757 ETH ($63.1M) in the last 30 hours,\u201d analysts at QCP Capital<\/span> <a href=\"https:\/\/x.com\/QCPgroup\/status\/1821491049010700516\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">wrote<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The broader market is also still largely tinged with caution as analysts point to jitters around the global macro environment and geopolitical tensions in the Middle East. In this case, crypto could still see a retreat amid a choppy month or so.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/coinbase-and-microstrategy-climb-as-bitcoin-reclaims-59k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Coinbase and MicroStrategy stocks rose 6% and 7% respectively as Bitcoin surged to above $59,000. Analysts say crypto markets may be choppy amid potential bearish catalysts. Coinbase and MicroStrategy stocks have climbed more than 6% each on Aug. 8 (as of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":35696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35695"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35695"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35696"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}