Crypto stocks shined in premarket trading Tuesday as Bitcoin topped $57,000 price level for the first time since late 2021. Bitfarms rose 11%; Cleanspark rose 10%, Bit Digital rose 8%; Marathon Digital and Canaan rose 7%; MicroStrategy and Coinbase rose 5%; Riot Blockchain rose 3%.
Bitcoin retook the $57,000 level on Tuesday for the first time since late 2021, supported by investor demand through exchange-traded funds as well as further purchases by MicroStrategy Inc.
Bitcoin's price has increased 33% since the turn of the year, extending a prolonged rally that has also stoked speculative appetite for smaller tokens like Ether and BNB.
A net $5.6 billion has poured into a batch of landmark Bitcoin ETFs that began trading in the US on Jan. 11, signaling a widening of demand for the token beyond committed digital-asset enthusiasts. An upcoming reduction in the token’s supply growth, the halving, is adding to the optimistic sentiment.
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