Marathon Digital Spikes Higher As Bitcoin, Crypto Sector Holds Steady: What's Happening?

Marathon Digital Holdings, Inc (NASDAQ: MARA) spiked up over 6% after the market opened Thursday before running into a group of sellers. The stock was outpacing Bitcoin (CRYPTO: BTC), which was trading near to flat.

Timeline of Bitcoin

Marathon invested a total of $31.3 million in its hosting provider Compute North, which filed for bankruptcy last month. The post Bitcoin miner Marathon's investments in bankrupt Compute North totaled $31.3 million appeared first on The Block.

The market is currently attempting a recovery that might take the price up to $22K after being supported by the critical $18K level. However, there is significant resistance at around $20K.

No thanks to the worsening macroeconomic conditions, the cryptocurrency market was severely beaten down in the last quarter, a new report from Cryptorank (an analytics platform) showed.

Perhaps the crypto community has historically not hoped for a Bitcoin bull run more badly than in the current cycle. In the space of just four weeks, Bitcoin (BTC) price rose above the important milestone of $20,000 on four occasions.

The global crypto market cap on Thursday increased by 0.94%, reaching $964.04 billion during the early European session. Contrarily, the 24-hour volume of all cryptocurrencies has dropped to $60.15 billion, a decrease of 0.90% from the previous day. However, major cryptocurrencies were trading in a narrow range. 

Bitcoin has been the crypto king and is known as the most dominant cryptocurrency in the crypto industry since its inception in 2011. It has grabbed the attention of investors to become the first choice for bringing overwhelming ROI (return on investment) during the bull run.

Mohamed El-Erian, the renowned Egyptian/American economist and businessman, believes cash is a good option for the economic uncertainties facing everyone. He does however believe that crypto has a future role to play and should be respected.

Bitcoin advocates have called for the Louisiana State Treasury to buy BTC after its announcement to divest roughly $794 million held with BlackRock. The post Calls mount for Louisiana state to buy Bitcoin following BlackRock divestment appeared first on CryptoSlate.

Grayscale is launching Grayscale Digital Infrastructure Opportunities, "a private, co-investment opportunity in mining hardware that powers the Bitcoin ecosystem." The post Grayscale unveils bitcoin mining-centered investment entity appeared first on The Block.

Ethereum moved closer to $1,400 on Thursday, as the token rebounded from yesterday's sell off. The world's second largest cryptocurrency rose to its highest point in almost ten days during today's session, as markets were marginally higher. Bitcoin was once again trading above $20,000.