Bitcoin back in the green to retrace some of correction (Cryptocurrency:BTC-USD)

01/04/2024 21:17
Bitcoin back in the green to retrace some of correction (Cryptocurrency:BTC-USD)

Bitcoin rises as it recovers losses, pushing up crypto-exposed stocks.

Glowing dark background with bitcoin symbol.

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Bitcoin (BTC-USD) pared some recent losses in Thursday morning trading, retaking $43K, a move that drove up a number of crypto-exposed stocks.

The biggest and oldest token (BTC-USD) advanced 2.7% to $43.4K at 9:17 a.m. ET, after falling to as low as $41K in the previous session, when investors perhaps hedged against the possibility of a non-approval decision by the U.S. Securities and Exchange Commission of a spot bitcoin exchange-traded fund that is due next week.

Other major coins changed hands in the green, too, including ethereum (ETH-USD) +1.9%, cardano (ADA-USD) +2.9%, solana (SOL-USD) +3.3% and avalanche (AVAX-USD) +3.2%.

Crypto-related stocks, which also fell alongside BTC Wednesday, perked up in premarket trading: MicroStrategy (MSTR) +1.7%, Marathon Digital (MARA) +2.7%, Coinbase Global (COIN) +1.1% and Riot Platforms (RIOT) +1.9%.

Note that MARA posted record bitcoin production numbers for December. Other BTC miners this week will start to publish their stats for last month.

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