Bitcoin Surges Above $65,000 as Risk Sentiment Rallies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 15 2026
0mins
Bitcoin surges above $65,000 as a U.S. agreement to reopen the Strait of Hormuz sparks a broad risk rally, lifting crypto-linked equities. Meanwhile, Strategy discloses 846,842 bitcoin after a $100M weekly buy and Bitmine's preferred shares begin NYSE trading Tuesday. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.HORMUZ DEAL IGNITES CRYPTO RALLY:Bitcoinclimbed to its highest level in nearly two weeks after the U.S. and Iran reached an agreement to reopen the Strait of Hormuz,. The move carried bitcoin above $65,000 on Monday morning, with equities like Coinbase, Strategy, and Robinhoodmoving in tandem.framed the move as part of a global risk-on relief rally, with oil falling simultaneously as bitcoin climbed roughly 3%. A formal signing is expected Friday following a 60-day negotiation phase,.STRATEGY WEEKLY BTC DISCLOSURE:, Strategy revealed that between June 8 and June 14 it acquired 1,587 bitcoin for approximately $100M at an average cost of $63,024 per bitcoin, funded through the sale of 1.73M MSTR Class A shares under its ATM program for $209M in net proceeds. Cumulative holdings now stand at 846,842 bitcoin at an aggregate cost of $64.07B, average cost basis $75,656 per bitcoin, with a $1.1B USD reserve as of June 14.BITMINE PREFERRED BEGINS TRADING TOMORROW:Bitmine Immersion Technologiesdisclosed, that as of June 14 it holds 5,620,754 ether, representing 4.66% of total ether supply, with 4,718,677 tokens staked through MAVAN, or Made in America Validator Network, at a projected $226M in annualized staking revenues. Total holdings including 204 bitcoin, equity stakes in Beast Industries and Eightco Holdings, and $502M in cash reach $10.4B combined, down from $11.6B the prior week on lower ether prices. Its 9.50% Series A Perpetual Preferred Stock, symbol BMNP, begins NYSE trading on June 16.Strivethe purchase of 73 bitcoin between June 8 and June 14 at an average of approximately $63,646 per bitcoin, bringing total holdings to 19,105 bitcoin, with cash and equivalents at $141.4M.MINER REBRANDS AS AI DATA CENTER:AIB, formerly BlockchAIn Digital Infrastructure, will rebrand to AIB Data Centers, effective June 25, reflecting a strategic pivot toward AI and high-performance computing workloads,.UFC STABLECOIN DEAL AND PATENT NOTES:TKO Group Holdingsand its UFC property named World Liberty Financialan official partner of UFC Freedom 250, funding a $250,000 Performance of the Night bonus pool paid in USD1stablecoin, a company press release. Dogecoin Cash filed a U.S. utility patent with the USPTO covering blockchain infrastructure for sub-5-second transaction confirmations and simplified dApp deployment on the Dogecoin network,. HUI commenced continuous trading on the Vienna Stock Exchange with a market maker and disclosed an impending token listing on a major global exchange,.PRICE ACTION:As of time of writing, bitcoin was trading at $66,661.15, while ether was trading at $1,818.05,.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 165.480
Low
230.00
Averages
361.63
High
440.00
Current: 165.480
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the onchain economy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. The Company offers products and services to various customer groups: consumers, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime trading, markets, base protocol and Coinbase wallet. The Company also provides market infrastructure in the form of exchanges for customers to trade spots and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Coinbase Stock Rises with Optimistic Earnings Outlook
- Stock Performance: Coinbase Global, Inc. (COIN) closed at $168.87, reflecting a 2.05% increase from the previous trading session, outperforming the S&P 500's gain of 0.72%, indicating positive market sentiment towards its stock.
- Earnings Expectations: The company is expected to report an EPS of $0.31, representing a substantial year-over-year increase of 158.33%, although the revenue forecast of $1.36 billion shows a 9.27% decline compared to the prior year, highlighting market concerns about its profitability.
- Annual Outlook: The Zacks Consensus Estimates predict earnings of $1.74 per share and revenue of $5.95 billion for the fiscal year, indicating declines of 56.82% and 17.13% respectively from the previous year, which may affect investor confidence.
- Valuation Metrics: Coinbase's forward P/E ratio stands at 95.18, significantly higher than the industry average of 11.13, suggesting its stock is trading at a premium, while a PEG ratio of 5.84 indicates insufficient expected earnings growth potential, which could impact future investment decisions.
See More
Coinbase Secures UK Investment Services Authorization
- Market Expansion: Coinbase announced it has secured UK investment services authorization, allowing UK users to trade derivatives and equities on a single platform for the first time, enhancing user convenience and the platform's competitive edge.
- Product Diversification: The new authorization will enable institutional and advanced traders to access a variety of derivatives, including crypto, equities, and commodity perpetual futures, further enriching Coinbase's product offerings to meet diverse user needs.
- New Opportunities for Retail Users: Retail users will be able to trade equities on Coinbase for the first time, a move that not only broadens their investment options but also has the potential to attract more users, thereby increasing the platform's market share.
- Enhanced Compliance: This authorization, combined with Coinbase's e-money license and crypto registration in the UK, demonstrates the company's ongoing commitment to compliance, laying a solid foundation for future business expansion.
See More
Bitmine Accelerates ETH Holdings to 4.8% of Total Supply
- Significant ETH Holdings: Bitmine currently holds 4.8% of the total ETH supply, approximately 120.7 million ETH, indicating its substantial position in the Ethereum market, which is likely to attract more investor interest.
- Rapid Growth: Over the past 12 months, Bitmine has achieved 95% of its 'Alchemy of 5%' goal, demonstrating its swift expansion in the Ethereum staking sector, which may further enhance its market share and influence.
- Listing Performance: Bitmine was included in the Russell 1000 Large-cap Index on June 26, 2026, increasing its visibility in capital markets and is expected to draw more institutional investor attention.
- Diversified Asset Portfolio: Bitmine's total asset value reaches $11.1 billion, including 5.74 million ETH tokens and $527 million in liquid assets, showcasing its diversified investment strategy across crypto assets and traditional securities.
See More
Bitmine Holds 4.8% of Total ETH Supply
- Significant ETH Holdings: Bitmine currently holds 4,879,157 ETH, valued at approximately $8.8 billion at current prices, highlighting its crucial position in the Ethereum market and laying the groundwork for future investment growth.
- Massive Asset Value: Bitmine's total assets, including cryptocurrencies, liquid funds, and tradable securities, amount to $11.1 billion, comprising 5.74 million ETH and $527 million in liquid assets, reflecting its strong financial strength and market competitiveness.
- Institutional Investor Support: Bitmine has garnered backing from top institutional investors, including Cathie Wood of ARK and Pantera, aiming to achieve its long-term goal of holding 5% of total ETH, which not only enhances its market credibility but may also attract more investor attention.
- Inclusion in Russell 1000 Index: Bitmine was added to the Russell 1000 large-cap index on June 26, 2026, a move that boosts its market visibility and liquidity, potentially driving stock price increases and attracting more institutional investors.
See More
Market Update: SpaceX and Coca-Cola Reach New Highs
- SpaceX Joins Nasdaq: SpaceX was fast-tracked into the Nasdaq-100 on Tuesday, closing its first trading day at $160.95, approximately 30% below its June 16 high of $225.64, indicating strong market interest despite the decline.
- Financial Sector Surge: The S&P Financials sector surged 4.5% in the past week and 7.6% over the month, with 82 out of 85 stocks rising last week, led by Robinhood's impressive 43% increase over three months, reflecting renewed investor confidence in financial stocks.
- Coca-Cola Hits New High: Coca-Cola shares have risen 7.4% over the past three months, reaching a new high, while the S&P Staples sector remained flat, showcasing Coca-Cola's robust performance and stable consumer demand in a challenging market.
- Cybersecurity Stocks Reach All-Time Highs: CrowdStrike, Fortinet, and Palo Alto Networks all achieved record highs on Monday, with CrowdStrike up 100%, Fortinet up 97%, and Palo Alto Networks up 121% over three months, highlighting strong market interest and investment in cybersecurity solutions.
See More
Progress on the Digital Asset Market Clarity Act
- Bill Stalled: The House passed the Digital Asset Market Clarity Act, but it remains stalled in the Senate due to stablecoin yield issues, as traditional banks seek to ban stablecoin yields to protect deposits, creating a significant roadblock for the legislation.
- Compromise Reached: Senators Thom Tillis and Angela Alsobrooks brokered a compromise to ban passive stablecoin rewards while allowing activity-based rewards, enabling the Senate to draft a new version of the bill that could potentially clear a final vote.
- Banking Warnings: JPMorgan CEO Jamie Dimon warned that yield-bearing stablecoins could create a
See More
Coinbase Stock Rises with Optimistic Earnings Outlook
- Stock Performance: Coinbase Global, Inc. (COIN) closed at $168.87, reflecting a 2.05% increase from the previous trading session, outperforming the S&P 500's gain of 0.72%, indicating positive market sentiment towards its stock.
- Earnings Expectations: The company is expected to report an EPS of $0.31, representing a substantial year-over-year increase of 158.33%, although the revenue forecast of $1.36 billion shows a 9.27% decline compared to the prior year, highlighting market concerns about its profitability.
- Annual Outlook: The Zacks Consensus Estimates predict earnings of $1.74 per share and revenue of $5.95 billion for the fiscal year, indicating declines of 56.82% and 17.13% respectively from the previous year, which may affect investor confidence.
- Valuation Metrics: Coinbase's forward P/E ratio stands at 95.18, significantly higher than the industry average of 11.13, suggesting its stock is trading at a premium, while a PEG ratio of 5.84 indicates insufficient expected earnings growth potential, which could impact future investment decisions.
See More
Coinbase Secures UK Investment Services Authorization
- Market Expansion: Coinbase announced it has secured UK investment services authorization, allowing UK users to trade derivatives and equities on a single platform for the first time, enhancing user convenience and the platform's competitive edge.
- Product Diversification: The new authorization will enable institutional and advanced traders to access a variety of derivatives, including crypto, equities, and commodity perpetual futures, further enriching Coinbase's product offerings to meet diverse user needs.
- New Opportunities for Retail Users: Retail users will be able to trade equities on Coinbase for the first time, a move that not only broadens their investment options but also has the potential to attract more users, thereby increasing the platform's market share.
- Enhanced Compliance: This authorization, combined with Coinbase's e-money license and crypto registration in the UK, demonstrates the company's ongoing commitment to compliance, laying a solid foundation for future business expansion.
See More
Bitmine Accelerates ETH Holdings to 4.8% of Total Supply
- Significant ETH Holdings: Bitmine currently holds 4.8% of the total ETH supply, approximately 120.7 million ETH, indicating its substantial position in the Ethereum market, which is likely to attract more investor interest.
- Rapid Growth: Over the past 12 months, Bitmine has achieved 95% of its 'Alchemy of 5%' goal, demonstrating its swift expansion in the Ethereum staking sector, which may further enhance its market share and influence.
- Listing Performance: Bitmine was included in the Russell 1000 Large-cap Index on June 26, 2026, increasing its visibility in capital markets and is expected to draw more institutional investor attention.
- Diversified Asset Portfolio: Bitmine's total asset value reaches $11.1 billion, including 5.74 million ETH tokens and $527 million in liquid assets, showcasing its diversified investment strategy across crypto assets and traditional securities.
See More
Bitmine Holds 4.8% of Total ETH Supply
- Significant ETH Holdings: Bitmine currently holds 4,879,157 ETH, valued at approximately $8.8 billion at current prices, highlighting its crucial position in the Ethereum market and laying the groundwork for future investment growth.
- Massive Asset Value: Bitmine's total assets, including cryptocurrencies, liquid funds, and tradable securities, amount to $11.1 billion, comprising 5.74 million ETH and $527 million in liquid assets, reflecting its strong financial strength and market competitiveness.
- Institutional Investor Support: Bitmine has garnered backing from top institutional investors, including Cathie Wood of ARK and Pantera, aiming to achieve its long-term goal of holding 5% of total ETH, which not only enhances its market credibility but may also attract more investor attention.
- Inclusion in Russell 1000 Index: Bitmine was added to the Russell 1000 large-cap index on June 26, 2026, a move that boosts its market visibility and liquidity, potentially driving stock price increases and attracting more institutional investors.
See More
Market Update: SpaceX and Coca-Cola Reach New Highs
- SpaceX Joins Nasdaq: SpaceX was fast-tracked into the Nasdaq-100 on Tuesday, closing its first trading day at $160.95, approximately 30% below its June 16 high of $225.64, indicating strong market interest despite the decline.
- Financial Sector Surge: The S&P Financials sector surged 4.5% in the past week and 7.6% over the month, with 82 out of 85 stocks rising last week, led by Robinhood's impressive 43% increase over three months, reflecting renewed investor confidence in financial stocks.
- Coca-Cola Hits New High: Coca-Cola shares have risen 7.4% over the past three months, reaching a new high, while the S&P Staples sector remained flat, showcasing Coca-Cola's robust performance and stable consumer demand in a challenging market.
- Cybersecurity Stocks Reach All-Time Highs: CrowdStrike, Fortinet, and Palo Alto Networks all achieved record highs on Monday, with CrowdStrike up 100%, Fortinet up 97%, and Palo Alto Networks up 121% over three months, highlighting strong market interest and investment in cybersecurity solutions.
See More
Progress on the Digital Asset Market Clarity Act
- Bill Stalled: The House passed the Digital Asset Market Clarity Act, but it remains stalled in the Senate due to stablecoin yield issues, as traditional banks seek to ban stablecoin yields to protect deposits, creating a significant roadblock for the legislation.
- Compromise Reached: Senators Thom Tillis and Angela Alsobrooks brokered a compromise to ban passive stablecoin rewards while allowing activity-based rewards, enabling the Senate to draft a new version of the bill that could potentially clear a final vote.
- Banking Warnings: JPMorgan CEO Jamie Dimon warned that yield-bearing stablecoins could create a
See More
