Undercut & Rally - MARA CLSK Bitcoin miners
| Published: | 11 Apr 2024 13:33 ET |
The two leading Bitcoin mining stocks, MARA and CLSK are both having undercut & rally attempts. Keep in mind that since Bitcoin miners correlate to a fair extent with the price of Bitcoin (though there can be some lags or excessive FOMO in the mining stocks), Bitcoin price/volume action itself remains tenuous given the latest inflation prints. While precious metals are rallying on hot inflation readings, Bitcoin which is far less mature is still vulnerable to weakness in the economy. It has never been through a recession. The recent sharp pullbacks in Bitcoin were due to inflation and interest rate worries.
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