MSTR, GLXY, COIN, ASST Stocks Jump Pre-Market After Trump Agrees To Iran Ceasefire

• Bitcoin climbed back above $71,000, up over 4%, as derivatives demand returned on Wednesday, according to an on-chain analyst.
• Strategy Inc and Strive Asset Management led reversals, rising over 6% and 7%, respectively, in pre-market trading after falling sharply on Tuesday.
• Empery Digital bucked the broader trend, closing in the red on Tuesday, with no notable pre-market recovery.

Crypto-linked stocks rose in pre-market trade on Wednesday after Bitcoin (BTC) extended its rally, trading above $71,000. 

Shares of Strategy, Inc (MSTR), the largest corporate holder of Bitcoin, rose more than 6% in pre-market trade after a slump of 3% in the previous session. On Stocktwits, retail sentiment around MSTR’s stock remained in the ‘bearish’ zone, while chatter around it stayed at ‘high’ levels over the past day.

Strive Asset Management, LLC (ASST) also closed in red, down over 8% on Tuesday.  In pre-market hours, ASST’s stock was up by 7%. On Stocktwits, retail sentiment around ASST remained in the ‘bearish’ zone, while chatter stayed at ‘low’ levels over the past day.

Coinbase Global, Inc (COIN) closed in green, up over 0.22% on Tuesday. In pre-market hours, COIN’s stock was up by 4%. On Stocktwits, the retail sentiment around COIN also remained in the ‘bearish’ zone, while chatter around it stayed at ‘low’ levels over the past day.

Galaxy Digital (GLXY) also closed in green, up over 1% on Tuesday. In pre-market hours, GLXY’s stock was up over 7%. On Stocktwits, the retail sentiment around GLXY remained in the ‘neutral’ zone, while chatter around it remained at ‘high’ levels over the past day.

Bitcoin Reclaims $71,000 As Derivatives Demand Returns

Bitcoin’s price was trading at $71,745, up by 4.4% over the past 24 hours, reclaiming a level it had struggled to hold in the last few weeks. On Stocktwits, retail sentiment around BTC moved to 'bearish,' from the ‘neutral’ zone, while chatter remained at 'normal' levels over the past day.

On-chain and derivative data showed that activity picked up again alongside the price change. Axel Adler Jr., an analyst at CryptoQuant, published a note on Wednesday saying that demand in Bitcoin derivatives markets had returned, indicating more traders were getting involved. He did, however, say that the overall market structure for Bitcoin remained weak, meaning the recovery had not yet shown lasting strength. 

Bitcoin’s price rebound comes after President Donald Trump announced on Truth Social that he would stop attacks on Iran for two weeks if Iran reopened the Strait of Hormuz, the waterway that carries about a fifth of the world's oil supply. 

Read also: Who Is Satoshi? New NYT Investigation Says Linguistic Analysis Points To Real Bitcoin Creator — And He's Denied It Before

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