MicroStrategy holds 331,200 BTC acquired for about $16.5 billion
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Cryptocurrency exchange Coinbase stock gained 3% in premarket trading, while MicroStrategy, which trades as a Bitcoin proxy, rose 11%. Mining stocks increased as well, with Mara Holdings up 9%.This most recent price increase might have been prompted by an increase in funding rates and open interest on the futures market during the Asian trading day. Around the same time, spot market premiums decreased, according to CryptoQuant data.
Bitcoin's recent price gains spurred a wave of short liquidations, totaling more than $95 million in the last 24 hours, according to CoinGlass, propelling the price higher overnight. The entire cryptocurrency market saw $495 million in liquidations. Bitcoin has increased by more than 130% in 2024.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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