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What’s Happening Today With Marathon Digital and Riot Platforms Stock? – Marathon Digital Holdings (NASDAQ:MARA)
Bitcoin BTC/USD Mining Stocks Marathon Digital Holdings Inc MARA and Riot Inc. Platforms RIOT is falling back on Tuesday after rising on Monday, while bitcoin has bounced off recent lows. Here’s what Investors should know.
What to know: Bitcoin has been trading lower over the past 24 hours, pulling back slightly after bouncing off recent lows earlier in the week. Monday’s move in mining stocks significantly outpaced the strength in broader stocks cryptocurrency marketswhich may help explain some of Tuesday’s decline.
Bitcoin received a boost on Monday after spot ETFs posted their highest inflows in two weeks on the previous trading day, adding $73 million in total. The Grayscale fund saw outflows of more than $27 million, but the BlackRock ETF saw daily inflows of $82.43 million, and the Ark Invest and 21Shares funds had inflows of $42.8 million.
It is worth noting that seasonal trends have historically been favorable for Bitcoin in July. Bitcoin has a median return of 9.6% in July, which is historically much higher than the median returns in June.
Check it: Bitcoin’s Average Return in July Means ‘Something Big Is Cooking’, Traders Think
Marathon Digital is a digital asset mining company focused on the Bitcoin ecosystem. The stock fell 3.04% to $21.88 on Tuesday morning.
Riot Blockchain focuses on the creation, support and management Blockchain technologiesAt the time of publication, shares were down 1.21% at $9.83.
Related link: Is the “Bitcoin Trump Pump” Sustainable? Here’s What 10x Research Thinks
$BTC Price Action: Bitcoin fell 1.25% in a 24-hour period, trading at $61,930 at the time of publication, according to Benzinga Pro.
Photo: Gaston Cerliani from Shutterstock.
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