Bitcoin, Strategy, and Crypto Stocks Rebound as Trump Signal Cools Iran Attack Fears

巴伦周刊（Barron's），《巴伦周刊》（Barron's）官方站点，提供商业、金融与市场新闻及分析。关注

Coming into Friday, Bitcoin has declined this week. (Dreamstime)

Key Points

Bitcoin and crypto stocks rebound after President Donald Trump says the U.S. would not attack Iran before the Nov. 3 midterm elections.
Bitcoin has fallen 2.2% for the week, marking its worst weekly performance since mid-September.
Crypto stocks Robinhood and Coinbase gain Friday, and Morgan Stanley raises its price targets on both companies.

The price of Bitcoin and other cryptocurrency stocks dropped earlier this week as global tensions intensified and energy costs rose, but have recovered some after President Donald Trump said he wouldn’t launch further attacks on Iran before the midterm elections in early November.

Bitcoin has risen 0.9% over the last 24 hours to $82,474.54, according to CoinDesk. The cryptocurrency has fallen 2.2% this week, marking its worst weekly performance since the week ended on Sept. 11, when the price dropped 3.2%, according to Dow Jones Market Data.

The Bitcoin rebound came on the heels of a Truth Social post from Trump on Thursday, in which he said the U.S. wouldn’t attack Iran before the midterm elections on Nov. 3.

Meanwhile, Brent crude fell about 1.5% Friday to around $103 a barrel.

The Barron’s Daily

A morning briefing on what you need to know in the day ahead, including exclusive commentary from Barron’s and MarketWatch writers.

Email addressSubscribe

I agree to the Terms of Use, Privacy Notice and Cookie Notice.

I would like to receive updates and special offers from Dow Jones and affiliates.

The turnaround, and recent price target increases, also gave crypto stocks a boost. rose 2.2% in premarket trading to $154.80. The stock, however, was having its worst week since the week ended on Sept. 11. Barclays raised its price target on the stock to $175 from $160 on Friday.

Robinhood Markets gained 1.7% to $108.82 and Coinbase advanced 1.9%. This week, however, the stocks have fallen 3.5% and 4.4%, respectively, marking their worst performance since last week.

Morgan Stanley bumped up its price target for Robinhood to $160 from $150 on Friday, while raising its target for Coinbase to $258 from $250.

Last week, Bitcoin reached $86,000, following remarks from Fed Vice Chairman Philip Jefferson, who demanded patience as the central bank evaluates economic data before making further rate decisions.

Write to Mariapaula Gonzalez at mariapaula.gonzalez@barrons.com

添加评论

点踩

分享查看原文

参与讨论