Coinbase, Bitcoin Miners Extend Gains as BTC Surges on BlackRock ETF Hopes
Shares of Coinbase (COIN), MicroStrategy (MSTR) and Marathon Digital (MARA) climbed more than 13% as bitcoin (BTC) topped $34,000.
Shares of Coinbase (COIN), MicroStrategy (MSTR) and Marathon Digital (MARA) climbed more than 13% as bitcoin (BTC) topped $34,000.
BTC surged past $31,000 and other cryptocurrency prices soared sharply Monday, too, taking many leveraged traders by surprise.
The crypto’s year-to-date high of about $31,800 is within sight.
MicroStrategy, the software company led by Saylor, began buying the crypto more than three years ago and at last check held more than 158,000 bitcoins.
Grewal said in a CNBC interview that the SEC approvals of the ETF applications could be coming soon.
The bitcoin options market has flipped bullish across different timeframes since Monday’s erroneous ETF report.
One line of thought envisions a major rally, while another suggests approval has been fully baked into prices.
Several traders experienced ‘slippage’ as liquidity declined across major exchanges.
Major tokens seemed to stabilize on Friday morning following a week-long price drop.
After failing again at $28,000 resistance over the weekend, bitcoin has retreated to its weakest level since late September.