By Callum Keown

Strategy, Coinbase and other crypto-related stocks were rebounding Thursday even as Bitcoin and other digital assets were falling.

That doesn't happen every day. It seems the cohort of crypto-exposed names was joining the broad-based tech rally ahead of the open rather than succumbing to the pressure on Bitcoin.

Strategy, the largest corporate holder of Bitcoin, was up more than 1% ahead of the open after slumping 5% in the previous session. But the price of Bitcoin was actually lower early Thursday -- around $63,900 -- than the $64,300 it was trading at when the stock market closed.

Crypto exchange Coinbase was rising 1.3%, while trading platform Robinhood Markets climbed 2.1%.

Bitcoin was down around 1% over 24 hours according to CoinDesk data, while the second-largest crypto Ethereum slipped 1.5% and popular altcoin XRP was down 2.3%. They all fell sharply after the Federal Reserve held interest rates steady and the central bank updated its projections. Nine policymakers, out of 18, now expect higher rates this year. Higher borrowing costs tend to hurt cryptocurrencies, which become less attractive relative to yield-bearing investments.

Risk assets -- aside from cryptos -- were rebounding, though, after President Donald Trump signed a memorandum of understanding with Iran late Wednesday. Futures on the tech-heavy Nasdaq 100 jumped 1.5%.

The fortunes of Strategy, Coinbase and Robinhood are largely tied to those of digital assets but it's not always the case. Sometimes they can get swept up in a tech rally.

Write to Callum Keown at callum.keown@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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June 18, 2026 07:38 ET (11:38 GMT)

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