Bitcoin on Track to Hit New All-Time High: 3 Stocks in Focus
The cryptocurrency rally, which had slowed at the end of May, has regained momentum and is on track to reach a new high as investor confidence continues to bolster the market. Bitcoin (BTC), which reached a record high in May, gave up some of the gains but has since bounced back and is trading above the $110,000 mark.
The pullback seen in late May was largely due to profit-taking by the big whales, which have been selling off Bitcoin as tariff tensions continued to worry them. However, positive economic data, such as easing inflation, has raised expectations that the Federal Reserve might begin cutting interest rates soon, which is likely to benefit the crypto market.
In this environment, investing in crypto-related stocks could be a strategic move. Companies like PayPal Holdings PYPL, Visa Inc. V, and CME Group Inc. CME stand out for their strong growth potential heading into 2025. All three have seen upward revisions in earnings estimates over the past three months.
Bitcoin Maintains Strength Above $100K
Bitcoin hit a record high of $111,886.41 on May 22. However, the cryptocurrency gave up some of its gains in the final week of May. The decline can be attributed to profit-taking. However, Bitcoin has still managed to stay above the $100,000 mark for more than 30 days at a stretch.
The rally regained momentum over the weekend, and on Monday, Bitcoin price surged more than 4% and was hovering around 110,500. The continued rally in Bitcoin is being driven by a mix of favorable developments, including improving U.S.-China trade relations, optimism over upcoming crypto regulations and increasing institutional investment.
Investor sentiment has further improved after President Donald Trump announced a temporary pause on new tariffs, and the United States and China agreed to a 90-day halt on imposing fresh duties. Talks between Trump and Chinese President Xi Jinping are scheduled, alongside negotiations with other global trading partners.
Meanwhile, regulatory progress in the crypto space is boosting confidence. The GENIUS Act — a legislative proposal aimed at regulating stablecoins — has made progress in the Senate. Trump and his crypto/AI advisor, David Sacks, have continued voicing strong support for pro-crypto policies, signaling a more favorable future for the digital asset industry.
3 Crypto-Centric Stocks With Upside
PayPal Holdings
PayPal Holdings provides digital wallet services that enable users to purchase, transfer and sell various cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Through PYPL, cryptocurrencies can be used to pay for goods and services from online merchants. Additionally, PayPal's mobile wallet platform, Venmo, allows users to engage in cryptocurrency buying and selling activities.
PayPal's expected earnings growth rate for the current year is 9.3%. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last 90 days. PYPL currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Visa Inc.
Visa is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments.
Visa's expected earnings growth rate for the current year is 12.9%. The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last 90 days. V currently has a Zacks Rank #3.
CME Group
CME Group Inc. 's options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers Bitcoin and ether options based on the exchange's cash-settled standard and micro BTC and ETH futures contracts.
CME Group's expected earnings growth rate for the current year is 9.5%. The Zacks Consensus Estimate for current-year earnings has improved 6.1% over the last 90 days. CME presently has a Zacks Rank #3.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.
See Stocks Now >>
CME Group Inc. (CME): Free Stock Analysis Report
Visa Inc. (V): Free Stock Analysis Report
PayPal Holdings, Inc. (PYPL): Free Stock Analysis Report
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
36 minutes ago
- Globe and Mail
Wall Street's rally stalls as US stocks post their 1st loss in 4 days
NEW YORK (AP) — Wall Street's rally stalled after stocks climbed back within 2% of their all-time high. The S&P 500 slipped 0.3% Wednesday, marking its first drop in four days. The Dow Jones Industrial Average ended little changed, and the Nasdaq composite lost 0.5%. The action was stronger in the bond market, where Treasury yields eased after a report showed inflation ticked up by less last month than economists expected. That raised expectations for the Federal Reserve to cut interest rates later this year. Markets didn't react much to the conclusion of two days of trade talks between the U.S. and China. THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below. NEW YORK (AP) — Wall Street's rally is stalling on Wednesday after U.S. stocks climbed back within 2% of their all-time high. The S&P 500 was 0.4% lower in late trading and on track for its first drop in four days. The Dow Jones Industrial Average was down 45 points, or 0.1%, with roughly an hour remaining in trading, and the Nasdaq composite was 0.6% lower. Several Big Tech stocks led the way lower, and a 1.9% drop for Apple was the heaviest weight on the market. It's been listless this week after unveiling several modest upcoming changes to the software that runs its devices. The action was stronger in the bond market, where Treasury yields eased after a report suggested President Donald Trump's tariffs are not pushing inflation much higher, at least not yet. U.S. consumers had to pay prices that were 2.4% higher overall in May than a year earlier. That was up from April's 2.3% inflation rate, but it wasn't as bad as the 2.5% that Wall Street was expecting. A fear has been that Trump's wide-ranging tariffs could ignite another acceleration in inflation, just when it had seemed to get nearly all the way back to the Federal Reserve's 2% target from more than 9% at its peak three summers ago. It hasn't happened, though economists warn it may take months more to feel the full effect of Trump's tariffs. For the time being, many businesses may be pulling products they already had in their inventories rather than passing along higher costs from fresh imports. 'Another month goes by with little evidence of tariffs, but the longer-term inflation challenge they pose remain,' according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Financial markets also had only modest reactions to the conclusion of two days of trade talks between the United States and China in London. Trump said Wednesday that China will supply rare-earth minerals and magnets to the United States, while his government will allow Chinese students into U.S. universities in a deal that still needs an agreement by him and by China's leader. Trump also said that 'President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!' Investors are still hoping for a more sweeping trade deal that would ease tensions between the world's two largest economies. Hopes for such deals between the United States and countries around the world have been one of the main reasons the S&P 500 has charged nearly all the way back to its all-time high after dropping roughly 20% below a couple months ago. Without them, the fear is that Trump's high tariffs could drive the economy into a recession while pushing inflation higher. The S&P 500 is sitting 2.1% below its record. On Wall Street, Chewy dropped 12.5% after the seller of pet supplies reported a weaker profit for the latest quarter than analysts had forecast. Expectations were high after its stock had already rallied nearly 37% coming into the day for the year so far. Tesla swung from a gain in the morning to a loss of 0.4% to continue its shaky run. It's been recovering much of its big losses taken last week after Elon Musk's relationship with Trump imploded, which in turn raised fears about a loss of business for the electric-vehicle company. Musk on Wednesday backed away from some of his earlier comments and said they went 'too far.' In the bond market, the yield on the 10-year Treasury eased to 4.41% from 4.47% late Tuesday. Shorter-term yields, which more closely track expectations for what the Fed will do with overnight interest rates, fell more. Wednesday's better-than-expected reading on inflation raised expectations along Wall Street that the Fed could cut its main interest rate at least twice by the end of the year. The Fed has been keeping interest rates steady so far this year, going on pause after cutting rates at the end of last year. It has been waiting to see how much Trump's tariffs raise inflation because cutting interest rates could push inflation up even more, as they give the economy a boost. 'The Fed could be justified in doing some preemptive rate cuts,' said Brian Jacobsen, chief economist at Annex Wealth Management. 'They were afraid that inflation would rise before growth would slow, but the script has been flipped and they will likely change their tune.' In stock markets abroad, indexes fell across much of Europe and rose in Asia. South Korea's Kospi was one of the best performers and jumped 1.2%.
CBC
44 minutes ago
- CBC
GST rebate on new homes would save typical first-time buyer $27K: Budget officer
Social Sharing The parliamentary budget officer says an eligible first-time homebuyer would save an average of $26,832 in sales tax on the price of a newly built home under Ottawa's latest housing proposal. In an analysis released Wednesday, the federal government's fiscal watchdog predicts that 71,711 new builds would qualify for GST relief over the lifetime of the program. The proposal would see the federal portion of the sales tax eliminated on a new home worth up to $1 million if it's bought by a qualifying first-time homebuyer. The GST rebate would be phased down as the price of the home approaches $1.5 million. Homes bought from May 27 through to 2031 can qualify for the rebate, as long as construction starts before 2031 and finishes by 2036. Canadians who have owned a home already are not eligible for the GST relief — with some exceptions. Neither are investors. The PBO forecasts the program will cost $1.9 billion over six years, while the federal government has pegged the "tax savings" for Canadians at $3.9 billion over five years. The PBO's latest estimate is about $100 million lower than the figure it cited during the spring federal election, when the GST break was proposed. It attributes that gap to a later implementation date and a different definition used for first-time homebuyers. A Desjardins Economics analysis of the proposal released Monday offered one explanation for the discrepancy between the PBO's cost estimate and the government's figure: Ottawa might think its program will be more popular than the PBO does. A higher cost estimate suggests more first-time homebuyers purchasing qualifying new builds, in other words. Economic impact of tax cut not part of analysis The GST rebate, which is not yet law, was included in the Liberals' spring election platform as a way to help Canadians break into the housing market. A home priced at $1 million would receive the maximum rebate of $50,000. The Desjardins report by economist Kari Norman said that if the program proves popular with first-time buyers, it could spur additional housing construction to meet higher demand. The PBO said it does not include possible behavioural responses to the program in its analysis. Norman noted in her report that it's also possible increased demand from homebuyers will push up home prices in the near term. She estimated that 85 per cent of new homes built in Canada over the program timeframe will be eligible for the full GST break of up to $50,000. In cases where the GST portion of a new home sale is rolled into the mortgage principal, the typical owner could expect to save $240 per month on mortgage payments, she said. The savings are more direct when a developer charges the GST upfront. The measure is packaged in legislation that also includes the Liberals' promised income tax cut, which is set to take effect July 1 after it was adopted through a ways and means motion last week.
Globe and Mail
an hour ago
- Globe and Mail
Toll Brothers Opens Stella at University Park Model Homes in Palm Desert, California
PALM DESERT, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, announced the grand opening of three new model homes at its Stella at University Park community in Palm Desert, California. The public is invited to attend the community's Model Grand Opening event on Saturday, June 14 from 10 a.m. to 2 p.m. located at 36233 Karsten Street in Palm Desert. Situated within desirable Palm Desert in the University Park master plan, Stella at University Park offers luxury living just minutes from high-end shopping, dining, and recreational opportunities. The community features a collection of one- and two-story single-family homes ranging from 2,496 to 3,558+ square feet with 3 to 5 bedrooms, 3 to 4.5 bathrooms, and 2- to 3-car garages. Toll Brothers homes in Stella at University Park feature open floor plans with first-floor primary bedroom suites, spacious offices, generous lofts, indoor/outdoor living spaces, and en-suite options perfect for multi-generational living. Homes are priced from the mid-$900,000s. 'Our new Belltrix, Pulsar, and Rigel model homes at Stella at University Park showcase the exceptional array of luxury designs that Toll Brothers offers, blending modern and boutique aesthetics with spacious floor plans,' said Brad Hare, Division President of Toll Brothers in Southern California. Homeowners at Stella at University Park will enjoy an amenity-rich lifestyle with access to The Grove, an exclusive community amenity center featuring a clubhouse, kiddie pool, lap pool, resort-style pool, spas, fire pits, event lawn and stage, pickleball courts, and a shaded play area. The highly sought-after desert climate provides year-round recreational opportunities for hiking, biking, and golfing. Residents also enjoy proximity to the San Jacinto Mountains, local PGA golf courses, and downtown Palm Springs. Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows customers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants. Quick move-in homes with Designer Appointed Features are available in the community, allowing home buyers the opportunity to move into their new dream home as early as August 2025. For more information on Stella at University Park, or to learn more about the community and homes for sale, call (866) 232-1631 or visit About Toll Brothers Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol 'TOL.' The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. Toll Brothers has been one of Fortune magazine's World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company's Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron's magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | ameck@
