$CRCL During the first hour of the U.S. stock market open, stablecoin stocks saw the biggest inflows among crypto-linked stocks
First, let’s look at how the move spread. After the U.S. market opened last night, crypto-linked stocks on Gate Perpetuals mostly rose together: CRCL is now at 84.81 (+3.9%), MSTR at 153.56 (+3.1%), COIN at 182.45 (+3.0%), and HOOD at 110.97 (+3.3%). Over the same period, BTC was around 83,420 (+2.5%) and ETH around 2,508 (+3.6%). The fact that crypto prices and crypto-linked stocks moved in the same direction suggests this was a broad recovery in risk appetite, not company-specific good news.
Next, where did the money go? CRCL traded about 1.85 million U at 9 p.m. yesterday and about 3.07 million U at 10 p.m., compared with just 310,000 to 910,000 U per hour during the day. That 10 p.m. bar was three to ten times its usual volume, lifting the price from 83.4 to a daily high of 85.16. During the same period, MSTR traded about 1.2 million U at 9 p.m.—less than its own midday move at noon (about 1.43 million U). COIN traded about 370,000 U at 9 p.m., roughly in line with normal levels. At the open, capital favored stablecoin-related stocks over stocks whose value is tied to Bitcoin holdings.
There’s another factor to watch: oil. On Gate Perpetuals, CL climbed steadily from 91.0 yesterday evening to 94.03 at 4 a.m. today, and is now at 93.75 (+1.8%), with 24-hour trading volume of about 76.09 million U. Rising oil prices can lift inflation expectations and dampen hopes for rate cuts, creating headwinds for crypto-linked stocks and high-valuation assets. The crypto market hasn’t reacted yet, but if oil holds above 94, tonight’s gains in crypto-linked stocks at the U.S. market open may not continue.
Watch two things: whether CRCL can hold around 83.4, where the 10 p.m. volume-driven rise began; and whether CL can break above 94 decisively. This is only an overview of macroeconomic transmission, not investment advice.
First, let’s look at how the move spread. After the U.S. market opened last night, crypto-linked stocks on Gate Perpetuals mostly rose together: CRCL is now at 84.81 (+3.9%), MSTR at 153.56 (+3.1%), COIN at 182.45 (+3.0%), and HOOD at 110.97 (+3.3%). Over the same period, BTC was around 83,420 (+2.5%) and ETH around 2,508 (+3.6%). The fact that crypto prices and crypto-linked stocks moved in the same direction suggests this was a broad recovery in risk appetite, not company-specific good news.
Next, where did the money go? CRCL traded about 1.85 million U at 9 p.m. yesterday and about 3.07 million U at 10 p.m., compared with just 310,000 to 910,000 U per hour during the day. That 10 p.m. bar was three to ten times its usual volume, lifting the price from 83.4 to a daily high of 85.16. During the same period, MSTR traded about 1.2 million U at 9 p.m.—less than its own midday move at noon (about 1.43 million U). COIN traded about 370,000 U at 9 p.m., roughly in line with normal levels. At the open, capital favored stablecoin-related stocks over stocks whose value is tied to Bitcoin holdings.
There’s another factor to watch: oil. On Gate Perpetuals, CL climbed steadily from 91.0 yesterday evening to 94.03 at 4 a.m. today, and is now at 93.75 (+1.8%), with 24-hour trading volume of about 76.09 million U. Rising oil prices can lift inflation expectations and dampen hopes for rate cuts, creating headwinds for crypto-linked stocks and high-valuation assets. The crypto market hasn’t reacted yet, but if oil holds above 94, tonight’s gains in crypto-linked stocks at the U.S. market open may not continue.
Watch two things: whether CRCL can hold around 83.4, where the 10 p.m. volume-driven rise began; and whether CL can break above 94 decisively. This is only an overview of macroeconomic transmission, not investment advice.