Crypto-linked stocks rally as Bitcoin surges ahead of Fed meeting

Circle Internet Group led the gains, climbing 8.6% to close at $71.08 after breaking through long-standing descending resistance. While technical momentum indicators suggest strength, the Chaikin Money Flow remains negative, highlighting a disconnect between price action and sustained institutional capital inflows. Analysts point to the $65 level as the critical floor for buyers to maintain the current breakout.

BitMine Immersion Technologies added 3.61% to finish at $17.23, bolstered by news of an aggressive share-repurchase program and an expanded Ethereum treasury now totaling 5.78 million tokens. Meanwhile, Strategy reclaimed the $100 psychological threshold, closing at $101.95. Michael Saylor’s firm remains heavily leveraged to Bitcoin’s price volatility, currently holding 843,775 BTC alongside a $3.2 billion cash reserve.

The durability of these gains hinges on the Federal Reserve’s July 28–29 meeting. Markets anticipate stable interest rates, shifting the focus toward Chair Kevin Warsh’s commentary regarding future inflation policy. Should the Fed signal a hawkish stance, the recent technical reversals for these stocks may face significant pressure, testing the newly established support levels across the sector.