Let's get a check on cryptocurrencies brought to you by the National Cryptocurrency Association.
We see some weakness across the board within crypto today. Bitcoin itself is down a little more than 1% but still holding above 78,000.
We've talked a lot recently about the recovery that Bitcoin had seen from the lows here, but it is still lower on the year. But let's look at a let's see a three-month chart here and see if that looks a little bit better.
There you see the sideways and then the upward movement a little bit better. So we have seen a little bit of a recovery.
We're also watching many of the crypto stocks today. Now, there was a report that uh about 100 crypto firms wrote a letter to the Senate committee that has been considering the latest crypto legislation around sort of the pipes of how crypto and stable coins work are urging that committee to mark up the bill and move it forward. This is something that the industry has really been pushing for and waiting on.
So, a lot of different movement here today. Uh I believe that we had numbers from applied digital, so those shares are up 13% today.
Uh but watching the crypto industry more broadly a little bit more mixed. Want to look at some of the uh year-to-date stats for this industry because as we have seen Bitcoin prices themselves remain lower on the year, many of these stocks are still getting hit by that.
Strategy curiously is not. It has recovered year to date. But Robin Hood, which had been at the bottom of the S&P 500 year to date, it's moved up a little bit, but it's still down more than 20%. Coinbase is down.
Um Circle interestingly is up about 27% and many of the so-called neo clouds that had been Bitcoin miners that now are doing some data center business, they are also higher year to date.