Bitcoin Surges Past $77K as Crypto Stocks Erupt; Tesla Jumps Over 5%

U.S. stocks pushed higher Friday midday, with all three major indexes in positive territory. The Dow rose roughly 0.81%, the S&P 500 added 0.51%, and the Nasdaq Composite climbed 0.33%. Bitcoin vaulted past the $77,000 mark, touching its highest level in nearly three months, igniting a broad-based rally across crypto-linked equities.

The crypto sector delivered standout performances: Robinhood (HOOD) skyrocketed 12.46% to $106.945, Strategy (MSTR) advanced 6.83%, and Coinbase (COIN) surged nearly 9%. Bitcoin mining stocks followed suit, with MARA up 2.15% and Bitdeer (BTDR) jumping 7.96%. The rally came as Bitcoin notched a cumulative gain of over 20% over the past five sessions, buoyed by the U.S. Treasury Secretary's push to expand liquidity support for Treasuries and reports of former President Trump meeting with crypto industry leaders.

Tesla (TSLA) roared 5.07% higher to $362.63 on volume exceeding 32 million shares. Reports indicated the EV maker plans to open its Cybercab test ride service by month-end and integrate it into the Austin Robotaxi network. JPMorgan flagged the development as a potential inflection point, suggesting shares could challenge the $400 level.

Elsewhere among notable movers, Moderna (MRNA) surged 11.67%, SoFi Technologies (SOFI) gained 5.41%, and Rivian (RIVN) added 5.87%. Chip stocks showed a mixed picture, with Nvidia (NVDA) edging down 0.62% to $215.50 and the Philadelphia Semiconductor Index slipping 1.18%. Among Chinese ADRs, Alibaba (BABA) tumbled 6.98% to $121.43, weighed down by divergent earnings expectations.