Bitcoin once rose by over 11%, and concept stocks rose across the board
On Tuesday, Bitcoin concept stocks rose, with MarathonDigital (MARA. US) up over 17%, MicroStrategy (MSTR
On Tuesday, Bitcoin concept stocks rose, with MarathonDigital (MARA. US) up over 17%, MicroStrategy (MSTR. US) up over 14%, Coinbase (COIN. US) and RiotPlatforms (RIOT. US) up over 13%, and BitDigital (BTBT. US) up over 10% as of press release.
Cryptocurrency traders are eagerly anticipating regulatory approval for the first US spot Bitcoin ETF, so Bitcoin continues its upward trend driven by demand expectations for spot exchange traded funds (ETFs) today, reaching its highest price since May 2022. The latest data shows that Bitcoin rose as high as 11.5% at one point, to over $35000. Even though the 10-year US Treasury yield, known as the "anchor of global asset pricing," has recently risen above 5%, reaching a new high since 2007, the bullish market of Bitcoin remains independent of mainstream risk assets such as stocks and bonds, emerging from a strong upward trend, while assets such as stocks have recently fallen across the board.
This article originates from the financial industry
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