Stocks, crypto space open March to somber tune after rallies

While the three major stock market indices (^DJI, ^IXIC, ^GSPC) open Friday's session mixed — the first trading day of March — this week continues to be a healthy week for the crypto space.

Yahoo Finance's Jared Blikre monitors bitcoin's (BTC-USD) price action, while also looking at other cryptocurrencies (DOGE-USD, SHIB-USD) and crypto-related stocks (COIN).

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

Video transcript

SEANA SMITH: Let's head over to Jared Blikre as a closer look at some of the red that you're seeing on the screen there. A lot of crypto names under pressure this morning.

JARED BLIKRE: Yeah. What is this? I'm not used to this. I'm going to change this. Guess what, this is one day you can see Bitcoin down just over 1%, so is Ethereum.

Here is the seven-day view. And this is more like it. Bitcoin up 21%, Ethereum up 15%. Critically, I'm noticing a lot of the other tokens, some of the smaller ones catching up. Now, I don't want to say it's a good thing that Dogecoin is outperforming everything else. But it has not been a participant in a large degree of the rally.

It's been Bitcoin and Ethereum leading with some of the smaller guys lagging. This is a change for better or for worse. So we got Shiba Inu. I haven't charted this in forever. That's up 50% over the last seven days.

And take a look over the last year here, you can see very, very low. How many zeros is this? Four zeros before the 15. But take it with a grain of salt here. We've seen the mega caps here of crypto. Mega caps of crypto, I'm going to call that Bitcoin.

Now, this is up 164% over the last year. But it's not only crypto. It's also crypto stocks, which have been surging as well. And let me get a five-day look, which accounts for the days in this week. And MicroStrategy up 46%. Coinbase up 21%. And let me just get a max chart of this, because it is now recovered about 50% of its losses.

And you can see that was its opening there, when it came to market. That was top taking the Bitcoin price. So half of that done, half more to go. We'll see what can catch up. But I'll show you, it's not all winners here.

Here's Bakkt still down 93%. Barely holding on to $0.62 per share, guys.