Shares of several crypto-related stocks including Marathon Digital Holdings Inc MARA, Riot Platforms Inc RIOT and Coinbase Global Inc COIN are trading higher Tuesday as Bitcoin BTC/USD bounces back and continues to move higher following a recent pullback.
What Happened: Bitcoin crossed the $30,000 mark for the first time since June 2022 last week, which helped spark upward momentum in several cryptocurrencies including Ethereum ETH/USD and Dogecoin DOGE/USD.
On Monday, Bitcoin pulled back, falling below $30,000 and trading down toward $29,000. It's moving higher again Tuesday and has once again crossed above the key $30,000 level.
Some bulls have been calling for a continued move to the $36,000 level. If Bitcoin breaks through its highs from the weekend around $31,000, it could see another strong push higher.
Marathon Digital is engaged in mining digital assets. The company owns mining machines and a data center for digital assets. The stock was up 5.85% at $12.12 at the time of writing.
Riot Blockchain is a Bitcoin miner focused on building, supporting and operating blockchain technologies. It was up 5.18% at $13.60 at last check.
Coinbase is the leading cryptocurrency exchange platform in the United States. Coinbase shares were up 3.54% at $70.12 at time of publication.
See Also: Elizabeth Warren Blasts Bitcoin Mining For Hurting American Wallets And Enriching Crypto Execs
$BTC Price Action: Bitcoin was up 3.13% over a 24-hour period at $30,405 at the time of writing, according to Benzinga Pro.
Photo: EivindPedersen from Pixabay.
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