MSTR, BMNR, CRCL, COIN Stocks Rally With Bitcoin Above $80K Ahead Of Kevin Warsh Jackson Hole Keynote

Solana outperformed Bitcoin and led the rally in major altcoins on Thursday afternoon.

• Ethereum remained below the $2,500 level despite its daily gain.
• Solana, Ripple’s XRP and Dogecoin outperformed Bitcoin.
• The cryptocurrency market is now looking to Kevin Warsh’s keynote at Jackson Hole for signs on where the monetary policy may be headed next and what that could mean for the cryptocurrency market.

Michael Saylor-backed Strategy (MSTR) rallied Thursday afternoon to its highest level in more than two months, leading gains among large-cap crypto-linked stocks after Bitcoin (BTC) recovered above $80,000 ahead of the Federal Reserve’s Jackson Hole symposium.

Bitcoin’s price gained around 2% in the last 24 hours, trading at around $80,100, at the time of writing. Meanwhile, MSTR stock gained 12% on Thursday afternoon. Both were among the top trending tickers on Stocktwits at the time of writing. 

Retail sentiment and chatter also moved in sync, with sentiment remaining in ‘extremely bullish’ territory over the past day, but chatter falling to ‘high’ from ‘extremely high’ levels. 

Bitcoin Recovery Lifts Crypto-Linked Stocks

Bitmine Immersion Technologies (BMNR), Coinbase (COIN) and Circle Internet (CRCL) also rallied alongside the recovery in the cryptocurrency market. BMNR’s stock gained 4.5%, while CRCL stock gained 4% and COIN stock was up 3.7%, at the time of writing.