Bitcoin rose over 2% to $110,000, boosting crypto stocks. “Bitcoin is in a re-accumulation phase with stable sentiments,” said analyst Linh Tran. MicroStrategy bought 168 bitcoins, bringing its total to 640,418. Robinhood, Coinbase, and Circle saw gains, and crypto mining stocks like MARA Holdings and Bit Digital surged.

Japan may allow banks to hold cryptocurrencies, signaling growing institutional acceptance. Ether crossed $4,000, rebounding from $3,700. BlackRock’s Robert Mitchnick blames leveraged trading for the recent market volatility, with offshore exchanges driving most of the trading volume. Long-term investing is expected to prevail over short-term noise.

Overall, the crypto market saw positive momentum with Bitcoin’s rise, institutional acceptance in Japan, and ether’s recovery. Bitcoin miners like MARA Holdings and Bit Digital experienced significant gains. Offshore exchanges driving trading volume are blamed for recent volatility, with long-term investing expected to dominate.

Read more at Yahoo Finance: Bitcoin rises 2.5%, retakes $111,00, leading crypto stocks higher as markets stabilize after October sell-off