Jun 23, 09:17 PM

Bitcoin Pops Back Above $105,000, Lifting Crypto-Linked Stocks

Bitcoin rallied back above the psychological $105,000 mark late on 23 June and extended gains in Asian trading on 24 June, recovering from a pull-back that followed its brief jump to around $108,000 on 16 June. The largest cryptocurrency advanced about 5 percent in the past 24 hours, trimming its weekly loss to roughly 4 percent. The rebound rippled across equity markets tied to digital assets. In Tokyo, shares of Ceres Inc., which holds a stake in crypto exchange Bitbank, climbed as much as 8.7 percent to ¥2,606, their highest level in more than a month, after Bitcoin returned to six-figure territory. Broader crypto markets also steadied, although major tokens such as Ethereum and Solana remained down more than 10 percent for the week. Institutional demand has persisted: CoinShares estimates that funds investing in digital assets have attracted $1.24 billion over the past 10 weeks, lifting year-to-date inflows to a record $15.1 billion.