Cryptowire, NEW YORK: Bitcoin climbed back to its highest level since early February on Tuesday, extending a rebound that lifted U.S.-listed crypto stocks after a fresh wave of exchange-traded fund inflows and another large purchase by Strategy. Bitcoin touched $75,937 intraday and was trading near $74,393, while shares of Strategy ended Monday up 5.6%. Coinbase rose 4.0% and Robinhood gained 2.6%, as investors moved back into digital-asset-linked names.
The latest advance has been supported by renewed demand for U.S. spot bitcoin exchange-traded funds. Data compiled by Farside Investors show the products recorded $199.4 million in net inflows on March 16, bringing cumulative net inflows since March 2 to about $1.53 billion. The flow reversal marks a notable improvement from the outflows seen earlier in the month and has coincided with bitcoin’s move from the low $70,000 range back toward the mid $70,000s.
A separate catalyst came from Strategy, the largest corporate holder of bitcoin, which disclosed on Monday that it bought 22,337 bitcoin for about $1.57 billion during the March 9 to March 15 period at an average price of $70,194 per token. The company said its total holdings rose to 761,068 bitcoin, acquired for an aggregate purchase price of $57.61 billion at an average cost of $75,696. Strategy said the latest purchase was funded with proceeds from at-the-market securities sales.
Institutional demand returns
The rebound in bitcoin has fed directly into crypto-related equities, which often act as higher-volatility proxies for the underlying token. Strategy’s stock has remained closely tied to bitcoin because of the size of its balance-sheet holdings, while Coinbase benefits when rising crypto prices improve trading activity and sentiment across the sector. Robinhood has also gained as digital assets remain an important part of its transaction-based business, and miners and other crypto-linked companies moved higher alongside the broader rally.
The move has also unfolded against a shifting macro backdrop. On Monday, U.S. stocks rose broadly after crude oil prices retreated, easing some pressure on risk assets that had built up during recent geopolitical tension in the Middle East. U.S. crude fell 5.3% to $93.50 a barrel, while the S&P 500, Nasdaq and Dow all closed higher. Bitcoin rose alongside that stabilization in broader markets, but its gains outpaced the major equity indexes and carried into Tuesday trading.
Corporate buying sharpens move
The sequence of price moves has been steady rather than abrupt. Bitcoin rose above $73,000 late last week, moved through $74,000 on Monday and then briefly crossed $75,000 in Tuesday trading. That progression has kept the focus on measurable drivers including ETF demand and disclosed balance-sheet buying rather than on a single market headline. The price action has also returned bitcoin to levels last seen before the sharp volatility that hit global markets in late February and early March.
For crypto stocks, the result has been a broad reset higher as investors respond to rising bitcoin prices, fresh institutional flows and a new round of accumulation by the market’s largest corporate buyer. With bitcoin back near an early February high, the latest rally has been driven by visible inflows, public filings and listed-market price moves rather than by unconfirmed signals.