Bitcoin Momentum Lifts Crypto Shares

Bitcoin last traded around $64,828, after a sharp rebound from July’s $62,239 low, while a conventional technical reading shows the token back above its 50-day moving average near $64,115. The latest price action also leaves Bitcoin with a strong RSI reading near 69.6, suggesting the market is extended but still supported by fresh buying.

That backdrop has helped crypto-linked equities recover. Coinbase shares rose to $167.21 from a recent low of $141.09, while MicroStrategy — one of the largest corporate holders of Bitcoin — climbed to $97.47 from $92.10 in the latest sessions. Both remain below longer-term averages, but the turn higher signals investors are again willing to pay for leveraged exposure to Bitcoin.

The move is also happening against a more permissive sentiment backdrop. Adalytica’s Bitcoin Fear & Greed Index shows extreme greed at 91, even as its awareness gauge points to extreme fear, a mix that often appears when price momentum outruns broader conviction. The US dollar’s trade signals are also weak, with fear readings and a steep drop over the past month, a setup that can further support alternative assets such as Bitcoin.

For Austrian investors, the story is less about one country alone and more about Europe’s broader normalization of crypto exposure. As South Korea advances new rules covering digital assets and European markets keep tightening compliance standards, investors are increasingly treating regulation as part of the asset class rather than a reason to stay away.

That leaves the near-term outlook tied to whether Bitcoin can hold above key technical levels and whether the current wave of demand spreads beyond traders into longer-term investors. If inflows continue, crypto exchanges, custodians and Bitcoin-heavy stocks could benefit further; if momentum fades, the same names may see outsized downside.