Coinbase Rides the Wave as Bitcoin Nears Record High

Bitcoin is on the verge of breaking its all-time high, surging past $111,000 and approaching the $112,000 mark set in May 2025. This bullish momentum follows weeks of consolidation, with the $110,000 level acting as a key resistance point. Ethereum, the leading altcoin, has also seen significant gains, jumping 6% to $2,760, its highest level in a month. The rally has spilled over into crypto-related stocks, with Coinbase posting a 5% gain, mirroring the broader market optimism. MicroStrategy, a notable Bitcoin holder, rose 4.4%, while Bitcoin miners Marathon Digital and Riot also benefited from the upward trend. The crypto market's resurgence highlights growing institutional and retail interest, with Coinbase emerging as a key player in facilitating this growth.

Bitcoin Nears Record High Amid Broad Crypto Rally

Bitcoin surged past $111,000, inching closer to its all-time high of $112,000 set in May. The breakout followed weeks of tight range-bound trading, with the $110,000 level acting as a persistent resistance point. ethereum led major altcoins with a 6% jump to $2,760, its highest level in a month.

Crypto-related stocks mirrored the bullish momentum. MicroStrategy gained 4.4%, while Coinbase rose 5%. bitcoin miners Marathon Digital and Riot Platforms advanced roughly 6% each. Market analysts noted the quiet buildup could signal impending volatility. "The setup for the next move looks good," said ByteTree's Charlie Morris, pointing to Bitcoin's declining volatility as a historical precursor to major rallies.

LMAX Group's Joel Kruger highlighted Ethereum's technical strength and growing institutional demand. The rally comes amid what Morris describes as "quiet bulls"—a typically bullish market configuration where low volatility precedes significant price movements.

Sequans Communications Launches Bitcoin Treasury with 370 BTC Purchase

Sequans Communications (SQNS), a cellular semiconductor manufacturer, has initiated a bitcoin treasury strategy with the acquisition of 370 BTC. The purchase was financed through proceeds from its recent equity and convertible debenture offering.

CEO Georges Karam outlined ambitious plans to accumulate over 3,000 BTC in the coming weeks, framing the MOVE as a long-term value preservation strategy for shareholders. Coinbase Prime will serve as the institutional custodian for the holdings.

Market reaction was immediately positive, with Sequans shares rising 2% in pre-market trading following the announcement.