to leave a comment.
▲ Coinbase (COIN), Strategy (MSTR), Robinhood (HOOD)/AI Generated Image
As US President Donald Trump's pro-crypto remarks pushed Bitcoin (BTC) above $64,000, three US crypto-linked stocks took center stage in the market this week.
According to crypto media outlet Coingape on July 7 (local time), the total crypto market capitalization increased by 1.38% over 24 hours, reaching $2.2 trillion. Ethereum (ETH) surpassed $1,800, and Dogecoin (DOGE) rose to around $0.08. XRP, Solana (SOL), and Cardano (ADA) also saw slight recoveries.
On July 6, Trump was asked by reporters if Bitcoin could be included in Trump Accounts, a children's savings program. Trump said, “I've become a staunch supporter of crypto. I'm a fan of crypto.” He then reaffirmed his supportive stance, stating, “If we don’t have crypto, China will have it.”
Strategy (MSTR) closed trading at $100.77 on Monday. Although it fell to around $95 during the session, it rebounded as bargain-hunting buyers entered. Strategy sold 3,588 BTC, valued at approximately $216 million. If the stock maintains $100, it can sustain its upward momentum, with $105 as the next target if it breaks $102. Below $100, $97.5 and $95 could be tested again.
Coinbase Global (COIN) closed up 2.05% at $168.87. After falling to the $160 support level during the session, it recovered past $167.5 to near the $170 resistance. If it breaks $170, the next target levels for this week are $172.5 and $175. Robinhood Markets (HOOD) closed up 4.28% at $117.55 on July 6. A recovery above $117.49 could lead to $120, but a retest of $105 is possible below $109.82.
Trump's pro-Bitcoin remarks brought crypto-linked stocks back to the forefront of the market. Coingape highlighted Strategy, closely tied to Bitcoin investor sentiment; Coinbase, expected to benefit from increased trading; and Robinhood, linked to the recovery of retail investors' crypto demand, as the US stocks to watch this week.
[Article Key Summary]
-Amid Trump's pro-crypto remarks, Bitcoin surpassed $64,000, drawing investor interest to crypto-linked stocks.
-Strategy, Coinbase, and Robinhood were presented as the three US stocks to watch this week.
-For Strategy, breaking $102; for Coinbase, breaking $170; and for Robinhood, breaking $117.49 were identified as key price levels.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.