CRCL, COIN, MSTR Stocks Gain With Bitcoin Above $81,000 For The First Time Since January

• COIN and MSTR shares were among the top-trending tickers on Stocktwits in early-morning trade.
• Coinbase rallied after announcing that it would be laying off over 14% of its workforce in an AI-led shift.
• Strategy rallied amid Bitcoin’s momentum ahead of its first-quarter earnings, scheduled for after-market close.

Crypto-linked stocks gained on Tuesday morning amid Bitcoin’s (BTC) rally to over $81,000 for the first time since January. Circle Internet Group (CRCL) led gains among the large-caps, followed by Coinbase (COIN) and Strategy (MSTR).

CRCL’s stock rose as much as 4.5% in pre-market trade, clocking a second consecutive day of gains. Retail sentiment on Stocktwits around the USDC stablecoin issuer flipped to ‘extremely bullish’ from ‘bearish’ and chatter rose to ‘extremely high’ from ‘high’ over the past day. 

The uptick came as Bitcoin’s price rose nearly 3% in the last 24 hours to cross $81,000. Retail sentiment around the apex cryptocurrency trended in ‘bullish’ territory on Stocktwits over the past day, with chatter rising to ‘high’ from ‘normal’ levels. 

COIN Stock Gains Amid Layoffs

COIN’s stock rose nearly 4% in pre-market trade and was among the top trending tickers on Stocktwits at the time of writing, even as its CEO Brian Armstrong announced that the company was laying off around 14% of its workforce in an AI-led shift.

On Stocktwits, retail sentiment around the cryptocurrency exchange rose to ‘bullish’ from ‘neutral’ territory over the past day, while chatter stayed at ‘high’ levels.  Many retail traders on the platform were in support on Coinbase running a “lean and mean” company.

MSTR Stock Pumps Ahead Of Earnings

MSTR’s stock rose as much as 3.24% in pre-market trade, and was also among the top trending tickers on Stocktwits. Retail sentiment around the Michael Saylor-backed enterprise rose to ‘bullish’ from ‘neutral’ over the past day, and chatter climbed to ‘high’ from ‘normal’ levels. 

The company is expected to report earnings after market close later today. Wall Street is expecting an adjusted loss of $27.33 per share on revenue of $85 million, according to Koyfin data.

However, retail commentary was more focused on Bitcoin’s price driving MSTR’s rally rather than what is expected from the company’s earnings. 

Smaller Crypto Equities Also Rally

American Bitcoin Corp. (ABTC), which is scheduled to report earnings on Wednesday, gained more than 4% in pre-market trade. Bullish (BLSH) climbed 3% after announcing a $4.3 billion acquisition of Equiniti. It recovered after tumbling over 8% earlier in the day. 

Ethereum (ETH) treasuries Bitmine Immersion Technologies (BMNR) and Sharplink Gaming (SBET) also gained in pre-market trade. BMNR’s stock was up 1.8% while SBET’s stock climbed 2.64%. Ethereum’s price rise iver 2% in the last 24 hours to around $2,380. 

Read also: Why Bullish's $4.2B Deal Is Sending BLSH Stock Lower Despite A Crypto Rally?

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