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Seeking Alpha 2023-04-18 14:01:22

Bitcoin rebounds to over $30K as crypto market cap eyes $1.3T

After trading in a downward spiral over the last few days, bitcoin ( BTC-USD ) pared back most of those losses in Tuesday morning trading, in a move that pulled up a slew of cryptocurrency-exposed stocks. Bitcoin ( BTC-USD ) drove up 3.2% to $30.39K, approaching multi-day resistance of $31K, as of 10:01 a.m. ET. Ethereum ( ETH-USD ), which has held up better than BTC, advanced 1.6% to $2.11K. The intraday gains, accompanied by a rally in the tech-heavy Nasdaq, took the global crypto market value 2.2% higher to $1.28T, according to CoinMarketCap data . Crypto-related stocks that climbed the most include: MicroStrategy ( MSTR ), +6.1% , Coinbase Global ( COIN ), +5.5% , Riot Platforms ( RIOT ), +10.3% , Marathon Digital ( MARA ), +11.2% , CleanSpark ( CLSK ), +10.7% , and Greenidge Generation ( GREE ), +14.5% . See why The Digital Trend, investing groups leader of 'Technically Crypto,' expects bitcoin to correct substantially in the coming months .

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