Bitcoin's rise to a two-month peak supported Coinbase and Strategy shares. For how long?

Bitcoin, following Asian stock indices that reached new peaks, briefly rose above $80,000 for the first time in more than three months. At the pre-market in the U.S., this supported the securities of Coinbase, Strategy and other companies related to cryptocurrencies, Barron's noted.

On Monday, Ma. 4, bitcoin rose 2.1% at an intraday high, reaching $80,594 - the highest level since Jan. 31, 2026, Bloomberg noted. The cryptocurrency subsequently corrected slightly, trading at $78,747 at the time of publication - roughly what bitcoin was worth the day before, Coinmarketcap data shows. Nevertheless, this momentum was enough to support shares of other bitcoin-related companies at the premarket on May 4, Barron's notes. In particular, the securities of Coinbase, Strategy and Robinhood jumped on Monday by 3.7%, 2.8% and 2%, respectively.

Bitcoin's rise coincided with a continued rally in Asia-Pacific stock markets, Bloomberg noted. The MSCI AC Asia Pacific ex Japan composite index, which tracks the largest companies in the region excluding Japan, rose almost 3% and renewed its all-time high, reaching 850 points during trading on May 4. Also, South Korea's Kospi index reached another historic peak - it jumped 5.12% on Ma 4. Hong Kong Hang Seng rose by 1.36%. Indian Nifty 50 strengthened by 0.49%. Markets in Japan and China were closed due to holidays.

Positive on the markets was caused by strong corporate reports of technology companies last week, which strengthened investors' appetite for risk, notes Bloomberg. Reuters writes that against this background, the securities of South Korean chipmaker SK Hynix also reached their own historical maximum. At the auction on Ma 4, they jumped by 13% in a moment - this was facilitated by reports of U.S. bigtechs about the increase in their plans to invest in AI-data centers, writes Reuters. Also shares in Asia showed growth amid investors' assessment of the U.S. plan to resume shipping in the Strait of Hormuz, notes CNBC.

Bitcoin hit an all-time high of just above $126,000 in October 2025, followed by a months-long market downturn that dropped the cryptocurrency's price to $60,000 in February. Since then, bitcoin has gradually regained ground, thanks in part to increased institutional demand, Bloomberg notes. According to data compiled by Bloomberg, net inflows into U.S. spot bitcoin ETFs totaled $630 million on May 1. FalconX's head of derivatives trading for Asia Pacific, Sean McNulty, said, "Institutional activity in the derivatives market indicates high confidence in bitcoin moving toward the $85,000 level by mid-month."

Richard Galvin, executive chairman of investment firm DACM, believes that traders' sentiment is also fueled by optimism over a possible bill in the U.S. on a key provision on the profitability of stablecoins. Against this backdrop, he believes bitcoin's current rise is just the beginning, but that bitcoin's $80,000 level was a "serious psychological barrier."

Orbit Markets co-founder Caroline Moron added that bitcoin's decisive breakout above the $80,000 mark would give "additional positive momentum to the entire crypto asset class."

At the same time, one of the first bitcoin investors, cryptostrategist Michael Turpin, noted that "despite bitcoin's double-digit growth in April," the cryptocurrency is still in a decline phase, in his estimation. "I still think the most likely low [for bitcoin] will be in the second half of the year, and the optimal point [for a possible position entry] will be around September or October," he said (quoted in Barron's).

Bitcoin has gained about 20% since the start of the U.S.-Israeli war against Iran. However, if the "cryptozyme" resumes, the shares of bitcoin-oriented companies, which showed growth on Ma. 4, may lose their positions as quickly as they gained them, Barron's notes.

This article was AI-translated and verified by a human editor