Bitcoin Rebounds Back Above $60,000, Helping Send Bit Digital Up 40%+ as Crypto Stocks Rise
$Bitcoin(BTC.CC$ rebounded Tuesday after falling below $60,000 a day earlier for the first time in nearly two months, helping to send shares of $Bit Digital(BTBT.US$, $BitFuFu(FUFU.US$ and other crypto stocks up by as much as 40%+.
BTC gained 3.6% to trade at $61,936.53 shortly before 3:30 p.m. ET on Tuesday after falling to as low as $58,574.21 over the past 24 hours.
The cryptocurrency lost ground Monday on word that the trustee overseeing Mt. Gox – a crypto exchange that collapsed in 2014 – plans to soon return some $9.4 billion of bitcoin to 127,000 creditors.
Markets apparently believed the disbursement could push BTC prices lower by making more supply available for sale.
However, bitcoin recovered on Tuesday as the market seemed to move on from the Mt. Gox news.
The rebound helped several crypto stocks, led by Bit Digital, which soared as much as 42.8% to a $3.47 intraday high.
BTBT gained ground not just on bitcoin's recovery, but also on word that it finalized a $275 million deal to supply an unnamed existing customer with an additional 2,048 graphics processing units (GPUs) over a three-year period.
Other big crypto gainers as of shortly before 3:30 p.m. ET included:
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LuckyLuke : I grabbed some at 59k but Im out at 62k today it doesn't look right to buy yet
Soso investor : The price of Bitcoin was 40,000 in January of this year; now it is 60,000, an increase of 40%.
How much have the stocks you mentioned have risen from January to now?
Bitcoin is Bitcoin, don't always push stocks upward