Crypto-linked equities traded mixed Wednesday morning as Bitcoin pulled back after briefly touching $71,600.
- GEMI stock rose by more than 1% following a $130 million Bitcoin transfer tied to its founders.
- American Bitcoin Corp (ABTC) rose after reports of insider buying.
- FIGR pulled back after a massive rally in its previous session.
Crypto-linked equities showed mixed momentum early Wednesday, with Bitcoin (BTC) pulling back after briefly reaching $71,600 on Tuesday, leaving just a few crypto-linked equities trading higher in pre-market trading.
At the time of writing, Bitcoin (BTC) was trading at $69,322, down over 1% in the last 24 hours. On Stocktwits, the retail sentiment around BTC dropped from ‘bullish’ to ‘neutral’, while chatter levels remained ‘low’ over the past day.
GEMI Stock Takes Lead
Among crypto-linked equities, Gemini Space Station (GEMI) led gains in pre-market trading, rising over 1% after closing over 6% in Tuesday's session.
This move comes after Gemini co-founders Cameron and Tyler Winklevoss transferred $130 million worth of Bitcoin to Gemini hot wallets on Tuesday. The stock has a consensus price target of roughly $13.50, with projections ranging from a high of $27 to a low of $7, according to Fiscal AI.
On Stocktwits, retail sentiment around GEMI dropped from ‘extremely bullish’ to ‘bullish’ over the past day, as chatter levels around it remained ‘extremely high’ over the past day.
Twenty One Capital Edges Higher, Strive Asset Slips
Following Gemini’s rise was Twenty One Capital, Inc. (XXI), which rose 0.2% higher in pre-market. On Tuesday, Twenty One Capital closed 5% higher.
Shares of Twenty One Capital, Inc. (XXI) have remained under pressure, trading at $6.94 and down 25% year to date.
On Stocktwits, retail sentiment around XXI remained in ‘bearish’ territory, as chatter levels remained in the ‘normal’ over the past day.
In pre-market, Strive Asset Management, LLC (ASST) was down 0.6%. According to Fiscal AI, the average price target for ASST by December 2026 is $22.20, suggesting room for potential upside. However, on Stocktwits, retail sentiment for ASST dropped from ‘bullish’ to ‘neutral’ zone, as chatter levels remained ‘low’ over the past day.
ABTC Edges Higher But Tanks Along With BTC’s Drop
The previous trading session ended with American Bitcoin Corp. (ABTC) up more than 5%. The stock gained nearly 1% during pre-market trading. According to reports, the company's two board members bought $1.6 million worth of shares on the open market last week.
The company reportedly owns 6,500 BTC, and its stock price closely tracks Bitcoin's price.
On Stocktwits, retail sentiment around ABTC dropped from ‘bullish’ to ‘neutral’ zone, but chatter levels continued to stay ‘high’ over the past day.
FIGR Fails To Keep Momentum
Figure Technology Solutions, Inc. (FIGR) ended the previous session at over $39, up over 21% for the day. In pre-market trading, the stock was marginally lower, down 0.33%. On Stocktwits, retail sentiment around FIGR improved from ‘bearish’ to ‘bullish’ over the past day. Chatter levels also improved from ‘low’ to ‘high’ over the past day.
With Bitcoin retreating from its recent highs, traders appear cautious across the broader crypto-equities market.
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