Cryptocurrency-related stocks are in focus today, after Bitcoin (BTC) briefly slipped below $90,000 earlier, before staging a rebound. As a result, shares of crypto-exchange platform Coinbase Global Inc (NASDAQ:COIN) and major corporate BTC holder Strategy Inc (NASDAQ:MSTR) are pivoting higher.
COIN is up 0.7% to trade at $265.71 at last glance, after yesterday's gap down to its lowest level since June. Last week, the security broke below the 200-day moving average for the first time since May, and has shed 21% this quarter despite being up 6.2% year-to-date.
MSTR was last seen up 7.8% to trade at $210.57, looking to snap its six-day losing streak with its biggest single-day percentage loss since July. The shares still sport a 27.4% deficit for 2025 and an even steeper 45.5% year-over-year loss, and yesterday hit a two-year low of $189.53.
On the options front, the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), COIN and MSTR's 50-day put/call volume ratios rank at the top of readings from the past 12 months. This indicates options traders have been much more bearish than usual toward both equities.
