Crypto stocks climb in early trading as bitcoin breaks above $50K

Bit Digital shares jumped more than 21% in early trading, Marathon Digital, Riot Blockchain, and Silvergate were up more than 3%.

Bitcoin, the largest cryptocurrency by market value, broke above the crucial psychological threshold of $50,000 on Tuesday for the first time since Sept. 7.

“It’s too early to say whether this will turn into a new support level in the short term, but it is clear that the overriding market view is bullish,” said Jason Deane, an analyst at Quantum Economics.