Shares of major cryptocurrency-linked companies jumped in premarket trading as the digital asset market rally gathered pace, with Bitcoin and most altcoins rebounding after the release of weaker-than-expected US jobs data.

Coinbase (COIN) rose 3.5% in premarket trading, while BitMine (BMNR) gained 2.8%. Strive (ASST) and Robinhood (HOOD) each climbed more than 3%. Other industry names, including Bullish, Circle, and Stablecoin Development (SDEV), also trended higher. Crypto-linked equities tend to serve as a listed proxy for the digital asset market, since their revenues rise and fall with trading activity and several hold crypto outright.

Crypto Stocks Rise After Weak US Jobs Report

The equity gains tracked a broad advance in digital assets. Bitcoin jumped to $86,705 and Ethereum moved to $2,755, while other leading cryptocurrencies continued to climb. The total valuation of all cryptocurrencies rose 2.2% to $2.9 trillion.

The rally followed the release of the latest US nonfarm payrolls (NFP) report, a monthly gauge of US hiring and one of the most closely watched readings on the economy's health. According to the Bureau of Labor Statistics (BLS), the US economy added just 29,000 jobs in September, missing the expected 89,000. The agency also downgraded the August jobs report from more than 162,000 to 133,000.

The data showed the unemployment rate rose from 4.1% to 4.2%, worse than the expected 4.1%, while manufacturing payrolls dropped to 6,000 from the previous 15,000. Taken together, the figures point to a slowing economy that may push the Federal Reserve to hold interest rates for the remainder of the year. Bitcoin and the broader crypto market have historically tended to perform well when the Fed is cutting rates or signaling that it will not hike. That sensitivity makes macro releases such as the NFP recurring catalysts for the sector.

Trading Volumes and ETF Inflows Signal Rising Demand

Rising demand for digital tokens has also supported crypto-linked stocks such as BitMine, Robinhood, Coinbase, and Strive. According to CoinMarketCap, total trading volume across the cryptocurrency market jumped to more than $103 billion, and with futures markets included, overall volume rose 10% to over $225 billion during this period.

Futures open interest climbed 5.47% to $156 billion. Bitcoin's open interest rose to $57 billion, while Ethereum's reached $35 billion. Open interest — the total value of outstanding futures contracts — is a standard gauge of market participation and of the trading activity that generates transaction fees for platforms such as Coinbase and Robinhood.

Investors have also continued to pile into Bitcoin and altcoin exchange-traded funds, a sign that demand for digital assets has continued to rise. These funds hold the underlying tokens and trade through ordinary brokerage accounts, giving traditional investors crypto exposure without handling the assets directly. Spot ETFs have added more than $102 million this month so far, after recording over $2.6 billion in inflows in September and $3.52 billion in August. Altcoin ETFs covering Solana, XRP, and HBAR have continued to add assets as well.

Corporate Bitcoin and Ether Treasuries Stand to Benefit

A sustained rally would lift several major companies in the industry, particularly those holding large digital asset treasuries. These companies hold cryptocurrency on their balance sheets, so token prices feed directly into the value of their holdings. Strategy, Michael Saylor's Bitcoin-holding firm, owns 847,666 BTC; if the price reaches $100,000, the value of those holdings would exceed $84.7 billion. Strive's Bitcoin holdings would be worth $2.7 billion at the same price point.

Coinbase would benefit through its Bitcoin and ETH holdings and from an increase in trading activity, while BitMine stands to gain as the value of its Ethereum treasury appreciates.

Bitcoin Technicals Suggest the Rally May Continue

Bitcoin's technical setup points to possible further upside. The cryptocurrency has moved above the key support level of $82,000, its highest level in September, and has formed a golden cross pattern, a chart signal produced when a short-term moving average crosses above a long-term one and widely read as a sign of strengthening momentum. The Average Directional Index (ADX), which measures trend strength, has risen to 41 — above the 25 level commonly treated as the threshold for a strong trend — and the price has climbed above the Supertrend indicator. Taken together, these signals suggest the coin may be positioned to extend its advance in the near term.

The next key level to watch is $90,000. A move above that level would point to further gains $100,000 — a scenario that would benefit companies such as Coinbase, BitMine, Strive, and Robinhood.

This article is based on reporting by The Market Periodical.