Bitcoin's surge toward $75,000 lifts crypto-linked stocks as regulatory clarity gains momentum

Crypto-linked stocks are rising as Bitcoin surges toward $75,000, a level it hasn't seen in nearly a month. The move lifted MicroStrategy (MSTR), Coinbase (COIN), Circle (CRCL), and Block (XYZ) in pre-market trading, driven by a 5% gain in Bitcoin over the past 24 hours to $74,577. More than $226 million in short positions were liquidated in that window, according to Coinglass, fueling momentum. MicroStrategy, which holds 780,897 Bitcoin — second only to BlackRock’s iShares Bitcoin ETF — saw its stock climb over 2% before markets opened. Coinbase gained over 1% pre-market after closing nearly 4% higher on Monday. Circle, the issuer of the USDC stablecoin, extended its rally with another 2% gain after a 12% surge the prior session. Block, Inc. also traded up over 1%. On Stocktwits, retail sentiment flipped to 'bullish' for Bitcoin, with chatter volume at 'high' levels. The momentum is coinciding with renewed political push for regulatory clarity. Senator Cynthia Lummis reiterated her support for the CLARITY Act, writing that 'America needs clarity.' U.S. Treasury Secretary Scott Bessent echoed the call, urging lawmakers to pass the bill so it can be signed into law. The push reflects growing pressure to establish a federal framework for digital assets. Meanwhile, the American Banking Association has warned that the rise of stablecoins could lead to 'narrow banking,' where money sits in reserve instead of being lent out — a shift that could constrain credit creation in the broader economy.