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Bitcoin rises 2.5%, retakes $111,00, leading crypto stocks higher as markets stabilize after October sell-off
Yahoo Financeยท2025-10-20 16:23

Market Overview - Bitcoin (BTC-USD) rose over 2% to surpass the $110,000 level, indicating a potential recovery in the crypto market and boosting related stocks [1] - Market sentiment is stabilizing with institutional demand for Bitcoin remaining strong, as noted by market analysts [1] Company Performance - Strategy (MSTR) stock increased by more than 4% after purchasing 168 bitcoins at an average price of $112,051, bringing its total holdings to 640,418 bitcoins with an aggregate purchase price of $47.4 billion [2] - Trading platforms Robinhood (HOOD) and Coinbase (COIN) saw gains of nearly 5% and 3.5% respectively, while stablecoin issuer Circle (CRCL) also rose by 3.5% [2] Crypto Mining Sector - Crypto mining companies are experiencing significant gains, with MARA Holdings (MARA) rising 11% after expanding into high-performance computing (HPC) and AI [3] - Bit Digital (BTBT) surged by 20%, and Cipher Mining (CIFR) increased by 10% [3] Regulatory Developments - Japan's financial regulator is considering policy changes to allow banks to hold Bitcoin and other cryptocurrencies, signaling increased institutional acceptance [4] Broader Market Dynamics - Other digital assets, including ether (ETH), also saw gains, with ether reclaiming the $4,000 level after a drop to $3,700 [4] - BlackRock's head of digital assets highlighted that recent market volatility was driven by speculative trading on offshore futures exchanges, despite these contracts representing less than 2% of total Bitcoin ownership [5]