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Bitcoin jumps to $79,500 as crypto stocks rise

Bitcoin rose more than 6% in 24 hours, briefly topping $79,500, while gold climbed 2% and silver advanced more than 2.5%.

Reported · Written up by our desk · Market Structure

Bitcoin surged more than 6% over the past 24 hours, reaching an intraday high of $79,500 before retreating back below $78,000, according to CoinDesk. The move lifted crypto-related equities, with Strategy (MSTR) up 10% and Coinbase (COIN) and MARA Holdings (MARA) each gaining 6% in the same period.

CoinDesk also reported that Galaxy Digital rose 5% as bitcoin’s momentum picked up. Mati Greenspan, a former senior eToro market analyst and founder at Quantum Economics, said recent price action resembles the early stage of market bottoms, starting with a squeeze and a sharp move that can cause holders of lower buy-limit orders to rethink their positions.

Alongside bitcoin, CoinDesk said gold reached about $4,600 an ounce, rising another 2% over the past 24 hours, while silver moved toward $70 an ounce after gaining more than 2.5%. Separately, CoinDesk noted bitcoin pushed above $1.5 trillion in market cap and was still about 39% below its October record near $126,000.

Latest closeGold $4,157.80 ▲0.4%|Silver $59.48 ▼0.7%|Bitcoin $81,906.63 ▼1.4%

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