Crypto Shares Gained, With Bit Digital Rising 7%

Tiger Newspress09-19 22:45

Crypto shares gained in midday trading. MicroStrategy rose over 9%; Bit Digital, Coinbase rose over 6%; Canaan rose over 5%; CleanSpark, Marathon Digital rose over 3%.

Last night, the US Federal Reserve (FED) announced that it had cut interest rates by 50 basis points after four years.

Following this decision, the price of Bitcoin rose above $62,000.

Swan Bitcoin’s Steven Lubka said that falling interest rates stimulate the economy and lead investors to buy riskier assets such as stocks and cryptocurrencies, saying:

“Bitcoin is highly correlated with its liquidity environment, and this will support Bitcoin prices to move higher towards the end of the year and beyond.”

While analysts expect Bitcoin to rise from October on the back of Fed rate cuts, historical data showing bullish fourth quarters, and supportive macroeconomic events, Bernstein analysts made a dual forecast based on the US election results.

Accordingly, Bernstein analysts predict that if Trump wins, Bitcoin will rise to $90,000 this year, while if he loses, BTC will fall to $30,000.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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MicroStrategy rose over 9%; Bit Digital, Coinbase rose over 6%; Canaan rose over 5%; CleanSpark, Marathon Digital rose over 3%.Last night, the US Federal ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CLSK","symbol_name":"CleanSpark, Inc.","start_time":0,"source_url":"","article_id":"1118524670","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1118524670","pubTimestamp":1726757116,"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"Crypto shares gained in morning trading. Bit Digital rose over 7%; MicroStrategy, CleanSpark rose over 6%; Coinbase, Marathon Digital rose over 5%; Riot Platforms, Canaan rose over 3%.Bitcoin broke $62k after Fed rate cuts. A 50 basis point cut by the Fed, and the first bitcoin  buy by a presidential candidate, kept digital assets in the green during the East Asia trading day, even though some market watchers are skeptical if the rally has any sort of legs.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CLSK":"CleanSpark, Inc.","MSTR":"MicroStrategy Incorporated","COIN":"Coinbase Global, Inc.","RIOT":"Riot Platforms","BTBT":"Bit Digital, Inc.","MARA":"Marathon Digital Holdings Inc"},"translate_title":"加密货币股价上涨，Bit Digital上涨7%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTBT":1.1,"CLSK":1.1,"COIN":1.1,"MARA":1.1,"MSTR":1.1,"RIOT":1.1},"content_text":"Crypto shares gained in midday trading. 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