tl;dr
Bitcoin (BTC-USD) briefly surpassed its November 2021 record high on Tuesday as demand for the token continued to be fueled by excitement over spot bitcoin exchange-traded funds and the April halving event. The highest-profile cryptocurrency advanced as much as 2.5% to $69.1K at 10:10 a.m. ET, befor...
Bitcoin (BTC-USD) briefly surpassed its November 2021 record high on Tuesday as demand for the token continued to be fueled by excitement over spot bitcoin exchange-traded funds and the April halving event. The highest-profile cryptocurrency advanced as much as 2.5% to $69.1K at 10:10 a.m. ET, before paring back gains to $67.3K at 10:53 a.m. ET. The token's previous record of $68.9K was reached on Nov. 10, 2021.
The upswing took bitcoin's (BTC-USD) market cap to as high as $1.35T, exceeding the entire U.S. high-yield bond market, only to retreat to $1.31T at the time of writing, according to data from CoinMarketCap. Interestingly, bitcoin (BTC-USD) mining stocks, which typically have a strong relationship with the price of BTC, fell markedly in Tuesday morning trading. Riot Platforms (NASDAQ:RIOT), which earlier posted a 20% monthly decline in BTC production, slid 8.2%, Marathon Digital (NASDAQ:MARA), dived 9.1%, CleanSpark (NASDAQ:CLSK) fell 5.5%, and HIVE Digital Technologies (NASDAQ:HIVE) -4.9%. Also, MicroStrategy (NASDAQ:MSTR), the largest corporate holder of BTC, slumped 10.7%, while crypto exchange Coinbase (NASDAQ:COIN) slipped 0.1%. This is a developing story. Check back for updates.
More about Riot Blockchain Inc
Riot Blockchain Inc. is a company focusing on cryptocurrency mining operation in North America. With a market capitalization of 3.66 billion and a stock price of $19.42, the company has shown a bullish trend with a Relative Strength Index (RSI) of 2.333. The stock has experienced a breakout, reaching a high of $1.604 and is currently trading at a support level of $0.176. However, it is important to note that past market behavior is not always a reliable indicator of future performance, and there may be uncertainties associated with the cryptocurrency market sentiment.
More about Marathon Digital Holdings Inc
Marathon Digital Holdings Inc. is a cryptocurrency mining digital asset technology company focused on the blockchain ecosystem and digital asset generation in the United States. With a market cap of 6.364 billion and a current price of 22.53, the stock has seen a decrease of -3.08% in the past year. The company has reported a revenue of 387.508 million and an EPS of 2.108. The market sentiment for Marathon Digital Holdings Inc. appears to be neutral, with potential uncertainties in the cryptocurrency market affecting the stock's performance. It is important to consider the risks associated with investing in cryptocurrency-related stocks, as past performance may not be indicative of future results.
More about CleanSpark Inc
CleanSpark Inc is a company that provides energy software and control technology solutions worldwide. It is headquartered in Woods Cross, Utah. In terms of financial metrics, the company has a market capitalization of 3.29 billion and a current stock price of $14.03. The company has shown a negative EPS of -0.69 and a positive revenue of 214.375 million. The stock performance has been relatively stable with a 1.639% change and a 1.652% dividend yield. In the market sentiment, CleanSpark Inc operates in the real estate and construction sector, with potential ties to blank checks. The analysis suggests a need for further investigation into the company's financial health and future prospects, as the EPS is negative, and the stock performance is relatively stagnant.
More about HIVE Blockchain Technologies Ltd
HIVE Blockchain Technologies Ltd and Aerohive Networks, Inc. both operate in the technology sector, specifically in computer processing and data preparation services. HIVE Blockchain has a market cap of 357,222,000, with a negative EPS of -0.42 and a P/E ratio of 1.121. The stock has seen a decline in performance, with a current price of 5.38, down from its 52-week high of 2.217. On the other hand, Aerohive Networks has a market cap of None, with a negative EPS of -0.428 and a P/E ratio of 1.183. The stock has also seen a decline in performance, with a current price of None, down from its 52-week high of None. Market sentiment for both companies appears to be bearish, with negative earnings and declining stock performance. It is important to note that past performance is not indicative of future results, and there may be uncertainties and risks associated with investing in these stocks.
More about MicroStrategy Incorporated
MicroStrategy Incorporated is a technology company that provides global business analysis software and services. With a market capitalization of $18.32 billion, the stock is currently trading at $40.81. The company has seen a 52-week low of $26.45 and a high of $36.3. The stock has a beta of 0.865, indicating lower volatility compared to the overall market. With a trading volume of 496,261,000, it has an average volume of 790.5. The stock has experienced a decrease of 0.775 or -0.061% in its price. Overall, market sentiment for MicroStrategy Incorporated appears to be relatively stable, with potential for lower volatility compared to the market as a whole.
More about Coinbase Global Inc
Key Financial Metrics: - Market Cap: $56,641,470,000 - Stock Price: $631.86 - Dividend Yield: 0.37% - Earnings Per Share (EPS): 12.41 - Price/Earnings (P/E) Ratio: 0.0324 - Revenue: $2,926,556,000 - Relative Strength Index (RSI): 88.29 - Bollinger Bands Width: 3.27 - Beta: 0.494
Stock Performance: - The stock price is currently at $631.86 with a market cap of $56.6 billion, indicating strong growth in the crypto economy. The RSI of 88.29 suggests that the stock may be overbought, while the Bollinger Bands Width of 3.27 indicates high volatility.
Market Sentiment: - The market sentiment towards Coinbase Global Inc. appears bullish, given the strong financial infrastructure and technology provided for the crypto economy. However, the high RSI and volatility suggest potential risks and uncertainties in the market, emphasizing the need for cautious analysis and decision-making.
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