"Never short a dull market," is a favorite axiom of veteran traders, and it's proven true once again as a gain for bitcoin (BTC) – stuck in a very tight range for the past month – has set off an explosive move higher in stocks like Coinbase (COIN) and Marathon Digital (MARA).

The recipient of a number of downgrades and price target cuts to start the year, crypto exchange Coinbase is higher by 15% today and now up nearly 25% from an all-time low hit earlier in 2023.