Here's Why Bitcoin's Not Keeping Pace With Nasdaq [Yahoo! Finance]
Marathon Digital Holdings, Inc. (MARA)
Last marathon digital holdings, inc. earnings: 8/14 04:00 pm
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Source: Yahoo! Finance
Bitcoin {{BTC}} has declined over 6% in seven days, deviating from its usually positive correlation with the equity market's tech-heavy Nasdaq Composite Index. While the popular narrative blames bitcoin's slide on the Federal Reserve's decision to signal just one U.S. interest-rate cut for the rest of the year, technology stocks extended gains after Wednesday's decision, indicating crypto-specific factors may be stopping BTC from keeping pace with the Nasdaq. "When a market continues to sell off at a specific level, it has less to do with events, narratives, or fundamentals. Instead, a large seller perceives prices to be overvalued at that level," Markus Thielen, founder of 10x Research, said. "The November 2021 all-time high of nearly 70,000 is a level where long-term holders are willing to sell their Bitcoins, as they are the most likely candidates to cash out." Earlier this week, a wallet that had been inactive since 2018 moved 8,000 BTC worth over $500 million to crypto exc
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MARA
Earnings
- 5/9/24 - Beat
MARA
Sec Filings
- 6/20/24 - Form DEFA14A
- 6/14/24 - Form 4
- 6/7/24 - Form SC
- MARA's page on the SEC website