Marathon Digital (MARA), Coinbase (COIN) and MicroStrategy (MSTR) are among the names that made big strides as Bitcoin (BTC) surged more than 4% Monday to above $29,200 for the first time since June 10, 2022 rose.
Alongside Marathon Digital’s 12% lead, fellow Bitcoin miners Riot Platforms (RIOT) and Hut 8 Mining (HUT) lead by 13% and 10%, respectively.
Crypto exchange Coinbase (COIN) is up 5.5% and MicroStrategy (MSTR) — the owner of 140,000 Bitcoin — is up more than 6%.
Before today’s move higher, Bitcoin was locked in a very tight range either side of $28,000 for around 10 days. There is no obvious news behind Monday’s sizeable gains. Looking ahead, Wednesday’s March consumer price index (CPI) will be released, one of the more important economic numbers ahead of the US Federal Reserve’s early May meeting, when many are betting the central bank could end its more than year-long streak of rate hikes.
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