Crypto-Linked Stocks Enter New Growth Phase

TL;DR
1.Traditional markets, meet crypto: MicroStrategy and Coinbase lead the charge.
2.MSTR and COIN mirror BTC trends, peaking with crypto's yearly high.
3.MSTR experiences 39% correction, retraces to $521 at 0.618 Fibonacci level.
4.COIN retraces 38%, hitting $187 top, aligning with 0.618 Fibonacci level.
5.COIN surges 500%, MSTR 443% in 2023, amplifying BTC and crypto gains.

While cryptocurrencies surge, traditional stock markets witness a rise in crypto-related stocks like Microstrategy (MSTR) and Coinbase (COIN), hinting at potential price upticks.

Stock Market Exposure to Crypto

Before Spot Bitcoin ETFs, accessing crypto in traditional markets was challenging. Companies like Microstrategy, led by CEO Michael Saylor, invested significantly in bitcoin, while Coinbase facilitated exposure to various cryptocurrencies.

Comparing Charts

Both MSTR and COIN charts align with BTC's trends, starting upward trends alongside BTC's bull market. They also topped around the same time BTC hit its yearly high.

Source: Coingecko/Trading View

MSTR Faces Correction

MSTR underwent a 39% correction from its January peak of $727, retracing to the 0.618 Fibonacci level around $521.

Coinbase: Similar Story

COIN's correction saw a 38% retrace from its $187 top, precisely hitting the 0.618 Fibonacci level. Both stocks appear to have established new potential price bases.

Source: Coingecko/Trading View

BTC Leverage Plays

With COIN's 500% growth and MSTR's 443% growth in 2023 compared to BTC's 221%, these stocks acted as leverage on bitcoin and crypto.

Conclusion：Crypto Boom Boosts Stock Market

As cryptocurrencies surge, traditional stock markets see a rise in crypto-related stocks like Microstrategy (MSTR) and Coinbase (COIN), suggesting potential price upticks. MSTR and COIN charts mirror BTC's trends, starting upward alongside its bull market and topping around the same time as BTC's yearly high. MSTR corrected by 39%, retracing to the 0.618 Fibonacci level, while COIN saw a 38% retrace, hitting the same Fibonacci level. Both stocks seem to have established new potential price bases, acting as leverage on bitcoin and crypto with significant growth compared to BTC in 2023.