Crypto Shares Rise Premarket as Bitcoin Rebounds From June Lows

MarketWatch2023-09-12

Crypto shares rose in premarket trading. Marathon Digital rose over 5%; Riot Blockchain rose over 4%; SOS Limited, Bit Digital rose over 3%; Coinbase, MicroStrategy rose over 2%.Bitcoin and other ...

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KSR
2023-09-12
KSR
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Bitcoin remains vulnerable near key technical levels and below the $26,000 mark that has provided support to the largest digital assets for much of the past month.“The declines in cryptocurrencies came as negative sentiment continued to flow into the markets,” said Samer Hasn, an analyst at broker XS.com, noting a spooked attitude among traders amid significant volumes of digital assets moving from wallets to exchanges. “Huge transfers to cryptocurrency exchanges are usually translated as a negative sign, since these transfers are due to the intention to sell or swap cryptocurrencies,” Hasn added.It looks like the only reprieve from Bitcoin’s historic trading lull—with the crypto seeing its lowest volatility ever this summer and notching the lowest trading volumes in August since 2019—may be the September scaries. 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