Why These 3 Bitcoin Miners Rocketed More Than 8% Today
For insiders and those who watch the cryptocurrency sector from afar, Bitcoin (CRYPTO: BTC) is generally the most-followed asset in this space. Wednesday's impressive surge of more than 4% over the past 24 hours as of 3:30 p.m. ET is notable.
And today's surge in Bitcoin has had an outsize impact on a range of crypto-related stocks. As of 3:30 p.m. ET, Bitcoin miners Riot Platforms (NASDAQ: RIOT), Marathon Digital (NASDAQ: MARA), and Hut 8 Mining (NASDAQ: HUT) had rocketed 11.4%, 9.3%, and 8.4%, respectively, since yesterday's close.
Much of today's impressive move in Bitcoin has come from increasingly bullish sentiment around banking-related contagion fears abating over the past day or so. With the financial system seeming to remain robust, investors have started to rethink their allocations and positioning.
Source Fool.com
