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▲ Circle (CRCL), Strategy (MSTR), Coinbase (COIN)/AI generated image
Ahead of the US Federal Open Market Committee (FOMC) meeting, cryptocurrency-related stocks have once again risen to the center of the market. As the likelihood of overall risk assets fluctuating due to interest rate directions increases, investors' attention is focusing on stocks that show high correlation with Bitcoin (Bitcoin, BTC).
According to cryptocurrency media outlet Coingape, major cryptocurrency-related stocks such as Circle (CRCL), Strategy (Strategy, MSTR), and Coinbase (Coinbase, COIN) are being highlighted as key watch stocks this week, ahead of the Fed meeting scheduled for April 28-29.
The market currently largely takes the possibility of an interest rate freeze as a given. With more than 99% probability reflected that the Fed will maintain the benchmark interest rate at 3.50-3.75%, investors are paying more attention to future policy direction and the tone of statements rather than the interest rate itself.
In this environment, Bitcoin's robust trend is positively influencing related stocks. As Bitcoin maintains high price levels amidst macroeconomic uncertainty, crypto-linked stocks are also expected to continue their upward momentum.
In particular, Strategy recently purchased an additional approximately $1 billion worth of Bitcoin, once again demonstrating an aggressive accumulation strategy. Following this move, its stock price rose by over 10%, reconfirming its high correlation with Bitcoin's price.
Coinbase is also at the center of volatility. While analysis suggests that an additional upward trend could open up depending on whether it breaks through key resistance levels, defending technical support levels is considered crucial in the short term.
Circle is also experiencing a strong upward trend, with both the possibility of a short-term correction and expectations for further gains being discussed simultaneously. As buying and selling battles continue around key price ranges, the overall market direction is identified as a variable that will determine the stock's price movement.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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