Coinbase ( NASDAQ: COIN ) stock climbed 6.1% on Tuesday as bitcoin ( BTC-USD ), a gauge of the broader cryptocurrency ecosystem, extended its rally to levels not seen since last June. The intraday increase took COIN's year-to-date gains to 108.9%, though it's still off 54.4% from a year before. Earlier, bitcoin ( BTC-USD ) surpassed $30K for the first time in 10 months -- pulling up a barrage of crypto-exposed stocks -- as traders increasingly bet on the Federal Reserve ending its hawkish monetary-policy stance ahead of key inflation data Wednesday. Galaxy Digital ( OTCPK:BRPHF ) CEO Michael Novogratz said the ongoing crypto rally stems from long-standing crypto enthusiasts moving back into the market after its sharp fall last year. Dilantha De Silva, leader of 'Leads From Gurus,' cautioned investors about COIN's astounding year-to-date rally as the company faces a number of headwinds .
$285 Million in Bitcoin Shorts Wiped Out
