Crypto Stocks Gained in Morning Trading, with Canaan Stock Jumping over 7%.
Coinbase, Block, Bit Digital, Riot Blockchain, BIT Mining, Marathon Digital, SOS Limited and The9 rose between 1% and 6%.
Bitcoin rebounded from a swoon below $30,000 as a selloff in stocks moderated and a bout of calm washed across global markets.
Bitcoin’s earlier plunge had taken it to levels last seen in the middle of 2021. Whether the calm will last is an open question. Tightening monetary policy to combat runaway inflation is curbing liquidity, creating a formidable obstacle for speculative assets like cryptocurrencies.
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