Crypto stocks rise as bitcoin rebounds past $96,000

Crypto stocks rise as bitcoin rebounds past $96,000

** Shares of cryptocurrency and blockchain companies rise in premarket trade as bitcoin recovers from a Monday selloff ** Bitcoin , the world's biggest cryptocurrency, last up 2.4% at $96,389.21, after slumping below $90,000 on Monday ** Crypto exchange Coinbase Global rises 3.8%** Crypto miners recover ground: Riot Platforms Inc up 3.9%, MARA Holdings up 3.8%, Hut 8 up 4.6%** BTC buyer MicroStrategy rises 3.4% ** iShares Bitcoin Trust ETF rises 3.1% ** Bitcoin has been volatile after initial surge following Donald Trump's victory in the U.S. presidential election, as investors gauge the likelihood of Federal Reserve rate cuts this year ** Digital asset investment products saw outflows of $940 million during the latter half of last week after the release of the Fed's Dec meeting minutes and stronger-than-expected labor market data, as per CoinShares data** "This suggests the post-U.S. election honeymoon is over, and macroeconomic data is once again a key driver of asset prices" - CoinShares analysts ** Bitcoin products saw net inflows of $214 million last week, CoinShares says** BTC up just 0.5% this month to date

Reuters