Bitcoin Nears New Highs, but Crypto Stocks See Mixed Reactions
11/7/2025
Bitcoin’s rapid climb toward fresh record highs lifted parts of the crypto market on Thursday, but not all crypto stocks joined the rally, revealing a split in investor sentiment.
The world’s biggest cryptocurrency surged more than 4% during the day and was recently trading near $117,700, up 5.78% over the past 24 hours, edging closer to the $118,000 mark.
Winners Riding Bitcoin’s Strength
Strategy (MSTR), which holds the largest bitcoin reserves among public companies, rose 3.2%. Galaxy Digital (GLXY), focused on institutional crypto services, added 4%.
Elsewhere, Japanese firm Metplanet (3350) gained 2.9%, while The Blockchain Group (ALTBG) in Paris jumped 9.3%, as both continued building bitcoin holdings as part of their treasury strategies.
Bitcoin miners also found support from the higher prices. MARA Holdings (MARA) advanced 3.2%, Hive Digital (HIVE) climbed 2.1%, and Riot Platforms (RIOT) was up 1.5%. Rising BTC prices increase the value of the coins these miners produce, helping their bottom lines.
Decliners Amid the Rally
However, not every crypto stock benefited. Cipher Mining (CIFR) dropped 2.5%, while Bit Digital (BTBT) slipped 1%.
Crypto exchange Coinbase (COIN) lost 1.6%. Circle Internet (CRCL), the issuer of the USDC stablecoin, fell 7%. Despite that drop, Circle’s shares remain well above their debut price, trading at $204.80—still more than six times the $31 IPO price from a month ago.
Meanwhile, Cantor Equity Partners (CEP), which is evolving into a public bitcoin investment company called Twenty One Capital, surged another 8.2%, extending gains after closing 9% higher on Thursday.
Bottom Line: Bitcoin’s surge toward new highs has energized parts of the crypto sector, particularly miners and companies adding bitcoin to their balance sheets. But uneven performance among exchanges and other crypto firms shows that not all players are equally riding the wave. Investors will be watching closely to see whether bitcoin’s momentum can lift the entire crypto equities market—or leave some behind.
