Bitcoin Clears $80K – And Wall Street Is Raising Its Bets On MSTR, COIN, XYZ Stocks

Canaccord raised its Strategy target to $175 from $130 and maintained a ‘Buy’ rating, saying the setup has "materially brightened."

• Goldman Sachs raised its Coinbase target to $196 from $173 and maintained a ‘Buy’ rating while remaining "cautiously optimistic."
• Wolfe Research raised its Block target to $115 from $100 and maintained an ‘Outperform’ rating following its review of second-quarter results.
• Wolfe also raised its Circle target to $65 from $50 but maintained an ‘Underperform’ rating, making Circle the outlier among the four stocks.

Crypto-linked equities like Michael Saylor-backed Strategy (MSTR) and Coinbase (COIN) saw price target hikes from Wall Street on Tuesday, with analysts more bullish as Bitcoin (BTC) climbed toward $80,000 and sentiment across the sector improved.

Bitcoin’s price gained about 1.7% over the past 24 hours and was trading around $79,200 after paring an intraday move above $81,000, according to CoinGecko data. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘extremely bullish’ territory, accompanied by chatter at ‘extremely high’ levels. 

Despite Bitcoin’s recent rally of over 22% in the last week, it continues to trade over 37% below its record high of $126,000 seen in October last year, and 10% below its year-to-date high of over $91,000.