bitcoin hits $78,000, battered treasuries spark crypto stock surge

bitcoin hits $78,000 as battered treasury firms spark crypto rally

Mid‑day data show the BTC price surged to ↑ $78,000, igniting a wave of buying across publicly listed crypto firms. Analysts note that three previously undervalued digital‑asset treasury names rallied after the price breakout.

Concurrently, oil benchmarks slipped, with Brent down ↓ 3% after statements from former President Trump that Iran would reopen the Strait of Hormuz and the United States is negotiating for enriched uranium. The commodity dip eased pressure on risk‑averse investors, nudging capital toward high‑beta crypto equities.

“The market is re‑pricing exposure to crypto assets faster than any sector in the past year,” said a senior strategist at Reuters.

Volume on the Nasdaq‑listed Coinbase Global and MicroStrategy surged beyond 5 million shares in the last hour, while Bloomberg notes that institutional inflows into crypto‑focused ETFs have risen to a six‑month high.