Bitcoin rose over 2% to surpass $110,000, boosting crypto stocks. Market sentiment stabilized as institutional demand remained strong. Strategy stock MSTR gained 4%, buying 168 bitcoins at an average price of $112,051. Robinhood and Coinbase surged, and Circle rose 3.5%. Crypto mining companies soared, with MARA up 11%.

Japan’s financial regulator is considering allowing banks to hold bitcoin, signaling growing institutional acceptance. Ether also rose to $4,000. BlackRock’s head of digital assets noted the recent crypto sell-off was driven by leveraged trading on offshore exchanges. Mitchnick emphasized the importance of long-term investing over short-term speculation.

Less than 2% of total bitcoin ownership is in offshore futures contracts, yet they drive most daily trading volume. Mitchnick highlighted the shift towards long-term investing. Ines Ferre, Yahoo Finance senior business reporter, covers the latest crypto news. Follow her on Twitter @ines_ferre for updates. Stay informed with the latest cryptocurrency news, prices, and updates from Yahoo Finance.

Read more at Yahoo Finance: Bitcoin rises 2.5%, retakes $111,000, leading crypto stocks higher as markets stabilize after October sell-off