Bitcoin’s move above $66,000 lifted CRCL, BMNR and MSTR as much as 8.6% as investors positioned themselves for the Fed’s July meeting.
summary
- Bitcoin’s move above $66,000 lifted CRCL, BMNR, and MSTR during Tuesday’s trading.
- CRCL and BMNR broke downside resistance, while MSTR reclaimed the key $100 level.
- The Fed’s decision in July may determine whether the three stocks’ rallies continue.
According to data from crypto.news, Bitcoin rose above $66,000 on July 21, while Ethereum traded above $1,900 and XRP rebounded above $1.14. The combined value of all cryptocurrencies rose by 2.08% within 24 hours, reaching $2.26 trillion.
Digital asset-related stocks followed the market higher during Tuesday’s session. Circle Internet Group rose 8.6%, BitMine Immersion Technologies advanced 3.61%, and Strategy rose 4.22%, according to daily TradingView charts accompanying the report.
The interest of US investors and lawmakers has also increased I came close to setting clearer rules For digital assets. As such, the expectations surrounding the CLARITY Act supported companies with direct exposure to cryptocurrency prices, stablecoin activity, and corporate holdings of cryptocurrencies.
Crypto strength lifted all three stocks
Circle Internet Group posted the biggest gains among the three companies, with CRCL stock closing at $71.08 after opening at $68.94. The stock reached an intraday high of $72.68 and a low of $68.65 before ending the session up 8.6%, TradingView data showed.
CRCL stock also moved above the upper border of the bearish channel that has dominated its price since early June. The daily chart displayed places previous channel resistance near $65, making this the first level that buyers may need to defend if the breakout faces a retest.
Momentum indicators support the recovery, although money flow remains a concern. CRCL’s Aroon Up reading reached 85.71%, while Aroon Down fell to zero, which the TradingView chart identifies as stronger upward momentum. However, Chaikin’s funds flow reading remained negative at -0.25, indicating that buying pressure has not yet produced sustainable capital inflows.
Based on the visual chart structure, the next resistance range is between $75 and $80. A move back below the broken channel boundary near $65 would weaken the breakout, while a recent base around $60 provides the next visible support area.
BitMine Immersion Technologies closed at $17.23, up 3.61% after trading between $16.69 and $17.24. The advance came as investors weighed BitMine’s latest Ethereum purchases and stock buyback program ahead of the Federal Reserve meeting.
According to the company’s figures cited in the report, BitMine acquired another 7,430 ETH during the week, bringing its holdings to 5.78 million tokens. The company held 4.92 million ETH, equivalent to about 85% of its Ethereum treasury, while its total crypto assets, cash and investments reached $11.5 billion.
BitMine also bought back 5.5 million shares at an average price of $15.62, according to an update from the company itself. The daily chart showed BMNR breaking above the downtrend line that has capped the stock since May, while the price also broke above the Supertrend level of $16.53.
The RSI for BMNR rose to 58.71, compared to the average signal of 47.17, according to TradingView. As the RSI remains below the 70 overbought threshold, the indicator leaves room for an advance towards the visible resistance of $18, followed by the previous consolidation area near $20; A close below $16.53 would weaken the reversal setup, with additional support emerging at $13.83.
TradingView data showed that shares of the strategy ended Tuesday at $101.95 after rising 4.22%. MSTR traded as high as $104.60 and briefly fell to $99.95, but buyers returned around the psychologically important $100 level before the close.
Michael Saylor revealed that Strategy increased its US dollar reserves by $225 million, bringing the company’s cash reserves to $3.2 billion. The report also placed Strategy’s Bitcoin holdings at 843,775 BTC, making MSTR closely exposed to changes in the cryptocurrency’s market capitalization.
Fed guidance will test new breakouts
MSTR has reclaimed the midpoint of the Bollinger Bands at $94.79 and is approaching the upper band at $105.36, according to the available daily chart. A confirmed move above this upper boundary could open up the area around $110, while a rejection would keep $100 and the middle band near $95 as first support levels.
Despite Tuesday’s rebound, the MSTR’s trend index averaged 18.77. The TradingView indicator reading shows that the stock does not have a strong directional trend yet, leaving a breakout vulnerable if Bitcoin loses momentum or the Fed delivers a more restrictive policy message.
The Federal Reserve is scheduled to meet on July 28-29, with markets expecting policymakers to leave interest rates unchanged, according to the report. Instead, investors will scrutinize Chairman Kevin Warsh’s comments for clues about inflation, economic growth and the timing of future policy changes.
A balanced policy message could help bitcoin and cryptocurrency-related stocks maintain Tuesday’s gains. More tight guidance could encourage profit-taking, putting the CRCL channel breakout, BMNR’s Supertrend reversal and MSTR’s rebound above $100 under immediate pressure.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
