Coinbase and Microstrategy rise, while Bitcoin has $ 59,000

• The shares of Coinbase and Microstrategy rose by 6 % or 7 %, while Bitcoin climbed to over $ 59,000.
• analysts assume that there could be restless developments on the cryptoma markets due to potential declining catalysts.

The shares of Coinbase and Microstrategy rose by more than 6 % on August 8 (as of 2:00 p.m. ET), at a time when the Bitcoin price broke through the 59,000 USD.

The stock of Coinbase (coin) was traded at around 192.30 USD, while the MStR from Microstrategy was around 134.23 USD.

Read more: Michael Saylors bet on Bitcoin pays off, his BTC stocks are now worth $ 1 billion

The upswing from Bitcoin shows that the latest dynamic has been over 50,000 since the support was recaptured. According to Coingecko data, the leading cryptocurrency has increased by 7 % in the past 24 hours. The losses of last week have shrunk to about 5 %.

Against this background, the cryptoanalyst Ali Martinez says that long-time owners bought aggressively at the recent decline.

While we were liquidated trade #Bitcoin Futures during recent decline to $ 49,000, long-term #Btc to their portfolios worth around 10 billion dollar! pic.twitter.com/ztl04qy8qq

- ali (@ali_charts) 8. August 2024

short-term outlook

This positive development for BTC comes after XRP has led the cryptomarkt according to the latest court ruling in the Ripple vs. sec. XRP was traded over 0.63, which helped Stellar (XLM) and other old coins to an upward trend. Ethereum also broke the $ 2,600 mark

XRP is in an important resistance zone and Ethereum may still have to fight with declining pressure through possible sales.

"There is a potential upper limit at short notice, since Jump Trading continues his ETH liquidations (21,394 $ 63.6 million $) and plus token Ponzi 2 ETH walls in the last 30 hours a total of 25,757 ETH ($ 63.1 million)) According to the analysts from QCP Capital .