It then moved slightly above the key resistance point at $12.85, the highest level on April 18. The shares consolidated at around $10 in the past few weeks. The daily chart shows that the Marathon Digital stock price has been in a slow bullish trend in the past few months. As such, if it rises, it means that the double-top pattern has been invalidated. This is an important level since it is the upper side of the double-top pattern.
Its future price action will depend on whether Bitcoin moves above $31,000. Therefore, MARA stock price is soaring because its business thrives in a period when Bitcoin price is thriving. These banks hope to take care of wealthy Europeans seeking access to the industry. Credit Agricole, a large French bank, also received its custody license.
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Analysts believe that the SEC will come under pressure and allow these funds this time.Īnother TradFi news was that Deutsche Bank applied for a crypto custody license in Germany. They included companies like Invesco and WisdomTree. Other large companies in the industry also unveiled their Bitcoin ETF filings. This will be an ETF tracking the spot Bitcoin price and will be similar to the Vanguard Gold Trust. On Friday, Blackrock, the biggest asset manager in the world, announced that it had applied for the iShares Bitcoin Trust with the SEC. TradFi refers to a situation where traditional finance companies move to the crypto industry. Most analysts believe that the ongoing trend of TradFi is the main driving factor for Bitcoin prices. This rebound happened as the crypto fear and greed index soared to the greed area.
The main reason why MARA stock price soared is that Bitcoin price neared the highest point this year. Other bitcoin mining companies in the industries like Riot Platform and Hut 8 Mining also surged. MARA shares jumped to a high of $12.75, meaning it has soared by more than 319% from the lowest level in December. Marathon Digital stock price surged to the highest level since November 2022 as Bitcoin and other cryptocurrencies roared back. Marathon Digital share price soared to the highest level since November.įuture price action will depend on the Bitcoin price action. Bitcoin mining stocks made a bullish breakout this week.
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