Crypto-linked stocks recorded their sharpest one-day rally of the summer, with Strategy (MSTR) surging 11.95% to $103.58 and Coinbase (COIN) climbing 9.05% to $159.47. Circle (CRCL) added 9.44% to $78.50 and BitMine (BMNR) gained 9.68% to $20.05, riding Bitcoin’s surge toward $70,000 and a market-wide short squeeze. Strategy and Coinbase rank among Wall Street’s most shorted large-cap stocks, meaning Wednesday’s rally is squeezing equity bears as well. The U.S. Treasury announced it would double its long-bond buyback program starting in September, while over $1 billion in bearish crypto bets were liquidated in a single hour.
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