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Bitcoin Surpasses $72,000: Crypto Companies’ Stocks Rise Ahead of Halving

Bitcoin Surpasses $72,000: Crypto Companies' Stocks Rise Ahead of Halving

TL;DR

  • Bitcoin surpasses $72,000, boosting shares of crypto companies.
  • Coinbase shares rise 5.71% in pre-market trading.
  • BTC rewards halving increases market optimism.

In the financial market, the recent rise in the price of Bitcoin above $72,000 has generated a positive effect on the shares of companies related to cryptocurrencies.

A clear example of this phenomenon is the notable 5.71% rise in Coinbase Global, Inc. (COIN) shares during pre-market trading.

This increase occurred after Bitcoin recorded its highest price since mid-March, once again highlighting the close relationship between the cryptocurrency market and the shares of companies in the sector.

The rise in Bitcoin price has not only benefited Coinbase , but also other companies such as MicroStrategy (MSTR) and BlackRock’s Bitcoin exchange-traded fund (IBIT), which saw significant increases in their pre-market values. market.

This outlook reflects widespread optimism in the cryptocurrency market, driven in part by the upcoming rewards halving.

The halving, which will halve the rewards given to btc miners for adding blocks to the blockchain, is scheduled for April 20.

Bitcoin Surpasses $72,000: Crypto Companies' Stocks Rise Ahead of Halving

After this expected event in Bitcoin, miners will receive 3,125 BTC per mined block

Which will impact the supply and demand of Bitcoin in the market.

Historically, Bitcoin halvings have been key events that have influenced the price of the cryptocurrency, generating expectations and opportunities for investors and companies in the sector.

In addition to the companies mentioned, other entities linked to the BTC mining sector also benefited from pre-market operations.

Marathon Digital (MARA), Hut 8 (HUT), and Argo Blockchain (ARB) saw increases in their shares, highlighting the extent of the positive impact of the increase in the price of Bitcoin on the entire crypto ecosystem.

This outlook reflects the continued importance of the cryptocurrency market in the global financial landscape and underlines the interconnection between BTC and the companies operating in its ecosystem.

Investors and analysts will be attentive to how these events evolve and how they impact the future performance of these companies in the financial markets.

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