Bitcoin Jumps 5%, and Crypto Mining Stocks Soared Today
The price of Bitcoin (CRYPTO: BTC) recovered on Tuesday as investors swung back to a risk-on trade. Markets have feared growing trade tensions between the U.S. and China, and that pushed stocks lower on Monday. Investors looking for a "safe" alternative have pushed gold and Bitcoin higher, with the biggest cryptocurrency jumping 5.2% in the last 24 hours as of 2:10 p.m. ET today.Crypto miners followed the move with TeraWulf (NASDAQ: WULF) jumping as much as 20.9%, Riot Platforms (NASDAQ: RIOT) rising 14.3%, and MARA Holdings (NASDAQ: MARA) climbing 12.2%. The stocks are currently up 17.6%, 12.1%, and 11.1% respectively.The strange thing about the moves in the market recently is how abnormal they are. Usually, when stocks drop, it's because investors are fleeing to the safety of Treasuries, but Treasuries have fallen as well.Continue reading
The price of Bitcoin (CRYPTO: BTC) recovered on Tuesday as investors swung back to a risk-on trade. Markets have feared growing trade tensions between the U.S. and China, and that pushed stocks lower on Monday. Investors looking for a "safe" alternative have pushed gold and Bitcoin higher, with the biggest cryptocurrency jumping 5.2% in the last 24 hours as of 2:10 p.m. ET today.
Crypto miners followed the move with TeraWulf (NASDAQ: WULF) jumping as much as 20.9%, Riot Platforms (NASDAQ: RIOT) rising 14.3%, and MARA Holdings (NASDAQ: MARA) climbing 12.2%. The stocks are currently up 17.6%, 12.1%, and 11.1% respectively.
The strange thing about the moves in the market recently is how abnormal they are. Usually, when stocks drop, it's because investors are fleeing to the safety of Treasuries, but Treasuries have fallen as well.