Crypto Stocks Surge 24.76% as US Market Rebound Drives 9.52% S&P 500 Gain

Crypto stocks experienced significant gains in tandem with the rebound of the US stock market on April 9. This surge was driven by a broader market recovery, with various sectors, including technology and finance, posting substantial gains. The rally in crypto stocks was particularly notable, with several key players in the industry seeing their share prices rise sharply. Michael Saylor’s Strategy, formerly known as MicroStrategy, surged 24.76% during the trading day, while crypto exchange Coinbase (COIN) closed up 17% to $177.09. Crypto mining companies also saw gains, with MARA Holdings (MARA) up 17%, Cipher Platforms (CIFR) up 16.59%, and Riot Platforms (RIOT) rising 12.77%.

Most of the gains in crypto stocks and the broader US market came in the final three hours of the day's trading session, spurred by an afternoon post from President Donald Trump on his social media platform. In the post, Trump announced a 90-day pause on his global “reciprocal tariffs,” instead lowering the tariff rate to 10% on every country besides China, which he increased to 125% due to the country’s counter-tariffs against the US. The S&P 500, which tracks the 500 largest public US companies, closed 9.52% higher, its third-largest single-day gain since World War II. Meanwhile, the Nasdaq 100 posted a 12.02% gain over the trading day.

The rebound in the US stock market was fueled by several factors, including positive economic data and favorable policy announcements. These developments boosted investor confidence, leading to a surge in demand for riskier assets, including crypto stocks. The crypto sector, which had previously faced volatility and uncertainty, benefited from this renewed optimism, with major cryptocurrencies like Bitcoin also posting gains. At the time of publication, Bitcoin was trading 7.52% higher than 24 hours ago, at $82,065.

The performance of crypto stocks was particularly impressive, with companies involved in cryptocurrency mining, trading, and blockchain technology seeing their share prices soar. This trend highlighted the growing integration of crypto assets into the broader financial ecosystem, as investors increasingly view them as viable investment options. The rally in crypto stocks also underscored the potential for significant returns in this emerging sector, attracting both institutional and retail investors.

The gains in crypto stocks were not limited to a few select companies but were seen across the board, indicating a broad-based recovery in the sector. This trend was further supported by the positive sentiment in the US stock market, which provided a favorable environment for riskier assets. The correlation between the performance of crypto stocks and traditional equities suggested that the crypto market was becoming more closely aligned with broader market trends, reflecting its increasing maturity and acceptance.

The rebound in the US stock market and the corresponding gains in crypto stocks were a testament to the resilience of the financial markets. Despite recent challenges and uncertainties, investors remained optimistic about the prospects for growth and recovery. The performance of crypto stocks during this period highlighted the potential for significant returns in this emerging sector, as well as the growing integration of crypto assets into the broader financial ecosystem. As the markets continue to evolve, the correlation between crypto stocks and traditional equities is likely to become even more pronounced, reflecting the increasing acceptance and adoption of crypto assets.