COIN

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Bitcoin

The global digital assets industry recorded a fresh surge of more than 4% on Monday as Bitcoin successfully regained the $72,000 price level. This rally sparked much needed enthusiasm in the market despite depicting ‘Greed’ on the <a href="https://news.todayq.com/bitcoin-fear-and-greed-index-hits-extreme-amid-looming-inflation/" rel="noopener noreferrer nofollow">fear and greed index</a>. However, data shows that crypto linked stocks also printed green indexes with other major digital assets. Crypto stocks to the moon? 
According to the data, Coinbase (NASDAQ: COIN), the US’s biggest crypto exchange saw a pre market surge of 5.56%. It suggested that COIN might hit $254.30 when trading hours begin. This reflects a strong reflecting investor optimism surrounding the market’s resurgence. However, it stood around $240.90 on the last trading day.
MicroStrategy Incorporated (NASDAQ: MSTR) saw its shares climb by more than 11.67% in the pre market trading hours. It suggests that MSTR would knock $1,607 in the trading hours. It has already gained by 322% in the last 6 months. MicroStrategy is Known for holding one of the largest corporate Bitcoin portfolios and a spike in its share price shows growing interest in companies with high exposure to BTC.
On the same side, BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) recorded a sharp jump of over 7%. It is expected to score $41.21 price in the trading hours. This can be seen as a positive sign for the industry.
Crypto miners also witnessed huge notable gains. Marathon Digital (NASDAQ: MARA), Hut 8 Corp (NASDAQ: HUT), and Argo Blockchain PLC ADR (NASDAQ: ARBK) noted a jump ranging from 6.5% to 7.5%. What’s next for Bitcoin? 
The crypto market cap is now moving towards the $3 trillion mark bagging almost 5% of the gains. The total crypto market cap now stands at $2.7 trillion with a trading volume of around $85.48 billion.
It is important to note that Bitcoin price jump from $69,000 to $72,000 eventually flipped the lazing sentiments taking over the market. However, the surge in crypto-related stocks and BTC’s price can be linked to many factors. This includes increased investor enthusiasm and inflows into crypto ETFs, upcoming Bitcoin halving scheduled for April 20 is also driving market sentiment.
Reports suggest that technical analysis by 10x Research shows that Bitcoin could rally to new record highs. This can happen only after breaking through a triangle resistance pattern. Analysts anticipate BTC could potentially climb above $80,000 in the weeks ahead.

MicroStrategy, top stocks soar, all thanks to Bitcoin

Todayq News

Alte articole publicate pe 8 apr. 2024

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