Crypto Stocks Robinhood (HOOD) and Are Rallying on Thursday – Here’s Why

Crypto stocks are jumping today as Bitcoin climbed more than 3% and briefly pushed toward the $80,000 mark. In Thursday’s regular trading, Robinhood (HOOD) and Circle (CRCL) stocks were each up 15%. Further, Strategy (MSTR) and Coinbase (COIN) gained 13% and 11%, respectively.

Two big macro shifts are driving the rally. First, Federal Reserve Governor Christopher Waller signaled he may support holding rates steady at this month’s meeting. His comments eased worries after last week’s hawkish tone from Chair Kevin Warsh. Rate hike odds for September quickly fell, giving risk assets like crypto more breathing room.

Second, the U.S. dollar weakened as the Japanese Yen surged, pushing the Dollar Index below 99. A softer dollar often boosts demand for Bitcoin, which many investors view as a hedge against currency swings. That drop added another tailwind for digital assets and crypto‑linked stocks.