MSTR Leads Crypto Stocks Rally Following MSCI Index Inclusion Update Even As Bitcoin Stalls At $93,000

• Strategy’s stock led gains among crypto-linked equities despite Bitcoin trading modestly lower near $93,000.
• Bitmine, Strive and other digital asset treasuries (DATs) also gained after markets closed on Tuesday.
• Crypto exchange stocks diverged following a series of analyst price target cuts.

Michael Saylor’s Strategy (MSTR) led gains among crypto equities on Tuesday night after MSCI announced after hours that it plans on keeping digital asset treasuries (DATs) in its indexes.

Not just MSTR but most crypto-linked equities were trading higher after the news despite the fact that Bitcoin (BTC) edged lower, hovering above the $93,000 mark. The move came against the S&P 500 closed at around 6,944, notching a new all-time high, and the Dow Jones Industrial Average crossed 49,000 for the first time in history, recording a record high of 49,462.

The SPDR S&P 500 ETF Trust (SPY), the SPDR Dow Jones Industrial Average ETF (DIA), and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) were trading marginally in the green after-hours. Retail sentiment around SPY on Stocktwits remained in ‘bullish’ territory over the past day with chatter at ‘normal’ levels.

Shares Of Strategy Jump After Hours

MSTR’s stock rose over 6.60% in after hours trade after falling more than 4% in regular trading and it was among the top trending tickers on Stocktwits, at the time of writing. Retail sentiment around the company on Stocktwits trended in ‘extremely bullish’ territory while chatter rose to ‘extremely high’ from ‘high’ levels over the past day. 

One user on Stocktwits said that the trading volume is very high and a short squeeze may be in the making.

Another anticipates MSTR’s stock rising to $200 soon.

Bitcoin’s price moved 0.8% lower in the last 24 hours, with retail sentiment around the apex cryptocurrency on Stocktwits trending in ‘extremely bullish’ territory amid ‘high’ levels of chatter.

MSCI Takes Other Crypto-Linked Equities Higher Too

Semlet Scientific (SMLR) and Strive Asset Management (ASST) each gained around 2% in after -hours trade on Tuesday.

Other DATs like Trump family-backed American Bitcoin (ABTC), Tom Lee’s Bitmine Immersion Technologies (BMNR), SharpLink Gaming (SBET) and KindlyMD (NAKA) also gained over 1.5%. ABTC's stock outpeformed other crypto mining companies, with retail sentiment around the company on Stocktwits trending in 'bullish' territory over the past day amid 'high' levels of chatter.

Crypto Exchanges See Mixed Movement

Crypto exchanges Coinbase (COIN) and Peter Theil-backed Bullish (BLSH) saw mixed movement in afterhours after the stocks saw price targets slashed by analyst. 

COIN’s stock moved 0.6% higher after-hours after dropping more than 1% in the previous session, following Bernstein’s trimming its price target to $440 from $510 while maintaining an ‘Outperform’ rating. The firm cited near-term volume softness but longer-term confidence in tokenization trends, as per the client note cited by TheFly. 

Rosenblatt also reduced its price target on Coinbase to $325 from $470 but reiterated a ‘Buy’ rating, arguing that slower trading activity is largely reflected in the stock and that product expansion could drive longer-term upside. On Stocktwits, retail sentiment around COIN’s stock remained in ‘bullish’ territory over the past day, accompanied by chatter at ‘high’ levels.

Meanwhile, BLSH’s stock slipped about 0.45% falling 0.55% during regular trading after Bernstein cut its target to $50 from $60 and kept a ‘Market Perform’ rating. Retail sentiment around the cryptocurrency exchange on Stocktwits fell to ‘bearish’ from ‘bullish’ territory amid ‘high’ levels of chatter over the past day.

Read also: MSTR, BMNR, ASST Shares Rally After MSCI Decides To Not Exclude Digital Asset Treasury Firms From Its Indexes

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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