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BUZZ-Crypto stocks rise as bitcoin rebounds past $96,000

ReutersJan 14, 2025 1:53 PM

** Shares of cryptocurrency and blockchain companies rise in premarket trade as bitcoin recovers from a Monday selloff

** Bitcoin BTC=, the world's biggest cryptocurrency, last up 2.4% at $96,389.21, after slumping below $90,000 on Monday

** Crypto exchange Coinbase Global COIN.O rises 3.8%

** Crypto miners recover ground: Riot Platforms Inc RIOT.O up 3.9%, MARA Holdings MARA.O up 3.8%, Hut 8 HUT.O up 4.6%

** BTC buyer MicroStrategy MSTR.O rises 3.4%

** iShares Bitcoin Trust ETF IBIT.O rises 3.1%

** Bitcoin has been volatile after initial surge following Donald Trump's victory in the U.S. presidential election, as investors gauge the likelihood of Federal Reserve rate cuts this year

** Digital asset investment products saw outflows of $940 million during the latter half of last week after the release of the Fed's Dec meeting minutes and stronger-than-expected labor market data, as per CoinShares data

** "This suggests the post-U.S. election honeymoon is over, and macroeconomic data is once again a key driver of asset prices" - CoinShares analysts

** Bitcoin products saw net inflows of $214 million last week, CoinShares says

** BTC up just 0.5% this month to date

(Reporting by Lisa Mattackal)

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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