As bitcoin went up to $70,000, the U.S.U. Encryption Concept Unit was strong on Wednesday. Strategy, Coinbase, Circle and Bitmine all touched the stage, and then partially jumped back. The market generally linked the round to the rapid pull-up of bitcoin, the concentration of air and the overall rebound of risk assets.

Four encryption concept units synchronized up

At the time of reporting, Strategy had increased by 11.95 to 103.58 dollars, Coinbase by 9.05 to 159.47 dollars, Circle by 9.44 to 78.50 dollars and Bitmine by 9.68 to 20.05 dollars.

  • Strategy was once raised to $106.90.
  • The Coinbase disk rose once to 16574 dollars
  • Circle and Bitmine also refresh the sky high

These companies are not connected in the same way as the encrypted market, but share prices are sensitive to mainstream encrypted asset movements. Strategy uses bitcoin as the company ' s reserve asset, Coinbase ' s income is related to the activity of the encrypted transaction, Circle relies on USDC ' s reserve asset proceeds, and BitMine holds and pledges to the south.

It's a big deal.

It was reported that, as bitcoin approached $70,000, there was a clear empty squeeze in the encryption market. Within a single hour, the size of the empty warehouse settlement exceeded $1 billion. With the rapid upturn of bitcoin, the associated stocks were also pushed up.

Strategy and Coinbase have another level of market significance. Both of them have long been among the more empty holdings of Wall Street, of which Coinbase is still one of the high-level pockets of the financial sector. This means that the rise on that day is not just an empty, encrypted derivative that has been forced to settle, but that some of the United States shares are simultaneously refilling.

Company holding a warehouse to enhance stock price elasticity

Strategy ' s latest weekly disclosure revealed that the company held 840,447 bitcoin and $4.8 billion in cash. As their balance sheets are highly correlated with bitcoin prices, stock prices tend to magnify bitcoin fluctuations.

BitMine is closer to the high elastic mark in the direction of the Taifung. Tom Lee, Chairman of the Company, indicated this week that Bitmine held 5.82 million ETHs at current prices, approximately $11.4 billion, or 4.8 per cent of the supply of the Taifaf. This makes it easier for its share prices to fluctuate rapidly with encrypted market sentiment.

Macro-Policy Message

In addition to a rebound in the encrypted market itself, the United States Treasury Department announced that it would at least double the scale of its long-term bond buy-back plan from September and that the market was seen as a sign of liquidity for risky assets. It was reported that the total market value of the entire encrypted market had increased by more than 5 per cent that day.

At the same time, the White House is expected to discuss market structure issues with the United States SEC, the head of the Commodity Futures Trading Commission and the head of the encryption industry later in the day, and the minutes of the July meeting of the Federal Reserve will be published the same day. Both messages are likely to continue to magnify short-line fluctuations in related stocks and encrypted assets.