IPW, BLSH, FWD Stocks Jump After Hours While MSTR, BMNR Lag With Bitcoin Below $90,000

• iPower advanced sharply in overnight trading, with some retail traders on Stocktwits pointing to a potential short squeeze.
• Shares of Bullish gained after Cathie Wood’s Ark Invest loaded up on more than 85,000 shares for its portfolio.
• The broader cryptocurrency market posted a modest gain, supported by liquidations that were concentrated on the short side.

Shares of iPower (IPW), Bullish (BLSH), and Forward Industries (FWD) gained after hours on Tuesday, outperforming other crypto-linked equities even as Bitcoin (BTC) continued to trade below $90,000.

Bitcoin’s price was up 0.8% in the last 24 hours, trading at around $89,100. Retail sentiment on Stocktwits around the apex cryptocurrency remained in ‘bearish’ territory over the past day amid ‘normal’ levels of chatter. The overall cryptocurrency market also edged 0.8% higher, holding above $3.1 trillion. CoinGlass data showed around $300 million in liquidations over the past 24 hours, with most of the forced unwinds coming from short positions.

The SPDR S&P 500 ETF (SPY) gained 0.24% higher after hours on Tuesday, the SPDR Dow Jones Industrial Average ETF (DIA) edged 0.02% higher, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) rose 0.50%. Retail sentiment around QQQ on Stocktwits fell to ‘extremely bearish’ from ‘bearish’ territory over the past day amid ‘high’ levels of chatter.

Smaller Crypto Equities Gain

IPW’s stock rose 3.5% in overnight trading, but retail sentiment on Stocktwits remained in ‘bearish’ territory over the past day, even as chatter rose to ‘low’ from ‘extremely low’ levels. Users on the platform forecast a short squeeze in the making. 

Meanwhile, BLSH’s stock gained 2.3% in overnight trading after Cathie Wood’s Ark Invest bought up 85,700 shares of the Peter Thiel-backed crypto exchange. Retail sentiment around the shares rose to ‘bullish’ from ‘neutral’ over the past day, with chatter at ‘high’ levels. 

FWDI’s stock was up 2.26% after hours, but retail sentiment dipped to ‘bearish’ from ‘neutral’ territory over the past day, accompanied by ‘high’ levels of chatter. The uptick came as Solana (SOL) outperformed Bitcoin in the last 24 hours, rising 1.8% to trade at around $126.84 at the time of writing. 

Large Bitcoin Holders Lag Amid Policy Focus

The largest corporate holder of Bitcoin, Strategy (MSTR), edged only 0.03% higher in overnight trading. Retail sentiment around MSTR’s stock on Stocktwits remained in ‘bearish’ territory amid ‘low’ levels of chatter. Meanwhile, Tom Lee-backed Bitmine Immersion Technologies (BMNR) fell 0.10% afterhours after a gain of 5.50% in regular trading. Retail sentiment around BMNR’s stock also trended in the ‘bearish’ zone.

Crypto miners MARA Holdings (MARA) and Riot Platforms (RIOT) also moved lower in after-hours trade. MARA’s stock edged 0.19% lower while RIOT’s stock fell 0.06%. 

Crypto exchange Coinbase (COIN) moved 0.29% higher in overnight trading after Baird initiated coverage with a ‘Neutral’ rating and a price target of $240. This is a potential upside of nearly 14% from Tuesday’s closing. Retail sentiment around the crypto exchange that recently partnered with the Bermuda government to bring the island nation’s economy on-chain remained in ‘bullish’ territory over the past day, with chatter at ‘high’ levels.

Attention remains on Washington, where the Senate Agriculture Committee is expected to vote on a crypto-related bill Thursday morning, offering a potential near-term catalyst for the sector following weeks of legislative uncertainty.

Read also: Washington’s Crypto Bill Could Be The Make-Or-Break Moment For BMNR Stock, Believe Analysts

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

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