Bitcoin mining stocks Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) are experiencing a pullback on Tuesday, following a strong surge on Monday as Bitcoin bounced back from recent lows. This decline comes despite Bitcoin's recent rise, fueled by positive developments like strong inflows into spot ETFs and historically favorable seasonal trends in July. The strength in mining stocks on Monday significantly outpaced the broader crypto market, potentially contributing to the current pullback. It is worth noting that Bitcoin has historically seen positive returns in July, averaging a 9.6% median return. Marathon Digital, focused on the Bitcoin ecosystem, is down 3.04% at $21.88, while Riot Blockchain, focused on blockchain technologies, is down 1.21% at $9.83. Meanwhile, Bitcoin itself is down 1.25% at $61,930.
Bitcoin Mining Stocks Dip After Monday's Surge
Summary:
Bitcoin mining stocks Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) are pulling back on Tuesday after surging on Monday as Bitcoin bounced back from recent lows.
The decline comes despite Bitcoin's recent rise, fueled by positive developments like strong inflows into spot ETFs and historically favorable seasonal trends in July.
The strength in mining stocks on Monday significantly outpaced the broader crypto market, potentially contributing to the current pullback.
Bitcoin has historically seen positive returns in July, averaging a 9.6% median return.
Marathon Digital, focused on the Bitcoin ecosystem, is down 3.04% at $21.88, while Riot Blockchain, focused on blockchain technologies, is down 1.21% at $9.83.
Bitcoin is currently down 1.25% at $61,930.
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