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Coinbase, Robinhood, Other Crypto Stocks Rise. Thank Bitcoin Hitting New Highs.  - Barron's

1. Bitcoin hit a record high around $110,000, boosting crypto stocks. 2. Coinbase (COIN) rose 2.8% in premarket, top performer in S&P 500. 3. Coinbase became the first crypto firm included in the S&P 500. 4. Crypto-related stocks showed gains despite market volatility on Wednesday. 5. Broader market movements influenced early Thursday gains for crypto stocks.

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FAQ

Why Bullish?

Coinbase's rise in response to Bitcoin's record high is significant. Historical trends show that COIN typically benefits when Bitcoin experiences substantial price movements.

How important is it?

The article directly connects COIN's price movement with Bitcoin's new highs, making it highly relevant. Positive market sentiment around crypto is likely to influence COIN price.

Why Short Term?

Short-term gains are likely as investors react to Bitcoin's price surge. Similar spikes have historically led to immediate interest in COIN.

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