While the three main stock indices (^DJI, ^IXIC, ^GSPC) mixed Friday session open — the first trading day of March — this week is still ahHealthy week for the crypto space.
Yahoo Finance Jared Blikre monitor bitcoin (BTC-USD) price action, while also analyzing other cryptocurrencies (DOGE-USD, SHIB-USD) and cryptocurrency-related stocks (CURRENCY).
For more expert insights and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's Note: This article was written by Lucas Carberry Mogan.
Video transcript
SEAN SMITH: Let's head over to Jared Blikre for a closer look at some of the red you're seeing on screen. Many crypto names are under pressure this morning.
JARED BLIKRE: Yes. What is this? I'm not used to this. I'm going to change this. Guess what, this is a day where you can see Bitcoin drop a little over 1%, just like Ethereum.
Here is the seven day view. And this is more similar. Bitcoin up 21%, Ethereum up 15%. Fundamentally, I'm noticing that a lot of other chips, some of the smaller ones, are catching up. Now, I don't want to say that it's a good thing that Dogecoin is outperforming everything else. But he has not participated to any great extent in the demonstration.
Bitcoin and Ethereum have been leading the way and some of the smaller ones have been left behind. This is a change for better or worse. Then we have Shiba Inu. I haven't recorded this in a long time. That's a 50% increase in the last seven days.
And if you look at the last year here, you can see a very, very low level. How many zeros is this? Four zeros before 15. But take it with a grain of salt. We've seen the mega caps here of cryptocurrencies. Crypto mega limits, I'll call it Bitcoin.
Now, this is up 164% over the last year. But it's not just about cryptocurrencies. These are also cryptocurrency stocks, which have also risen. And let me look at five days, which represent the days of this week. And MicroStrategy rose 46%. Coinbase rose 21%. And let me get a maximum chart of this, because now you recover about 50% of your losses.
And you can see that that was its opening there, when it hit the market. That was the best for the price of Bitcoin. So half of that is done, half more to go. We'll see what can catch up. But I'll show you that not everyone is a winner here.
Here's Bakkt still down 93%. I can barely stand $0.62 per share, guys.
