Crypto Stocks Jumped in Morning Trading

Tiger Newspress2022-09-27

Crypto Stocks Jumped in Morning Trading.

Marathon Digital surged over 8%; Coinbase, MicroStrategy rose more than 6%.Bitcoin (BTC-USD) retook $20,000 as the digital currency has taken off on Tuesday morning gaining more than 5% as traders look to capitalize off its recent declines.

Also lending support to the crypto world is Tuesday’s risk on tone, as the U.S. dollar subsides and yields take a step back its provided room for risk assets including the Nasdaq (COMP.IND) to advance higher. The speculative Bitcoin has developed a strong correlation with risk assets and is moving higher in tandem.

Bitcoin now trades near the $20,200 marker, a level not seen in nearly two weeks as the cryptocurrency has popped 6.3% early on. From a technical level the next stop looks to be near $21,200 which marks Bitcoin’s 100-day moving average. It has consistently been trading below the 100-day level since mid-April as it has tested the indicator's levels a couple of times but each time bounced lower.

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.

Comments

DarrenTayCW
2022-09-28
DarrenTayCW
ok
Chawcs
2022-09-27
Chawcs
Like
Tanyl
2022-09-27
Tanyl
Do buy call & buy put
Leont
2022-09-27
Leont
K
Edwardtoh
2022-09-27
Edwardtoh
Like

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