Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Marathon Sets Bitcoin Production Record, Celsius Unstaking Its Ether Holdings

Jan 5, 2024
Author
Tom Couture
Tom Couture AC
Market Update Markets are responding to various economic data releases, which showed the unemployment rate holding steady at 3.7% vs. 3.8% exp., and U.S. ISM Services PMI coming in at 50.6 vs 52.5 exp. The DXY (-0.25%) initially surged over $103 following the employment data but has dropped to $102.2 following the PMI data release. Equity indices are gaining to end the week, with the SPY and QQQ both rising approximately 0.10%. Crypto investors are patiently waiting for news regarding potential Bitcoin ETF approvals, as some expect news today, while most anticipate early next week. $BTC (-1.72%) is trading near $43.3k and $ETH (-2.05%) is holding around $2220. Altcoins are generally underperforming this week as Bitcoin’s dominance ratio ($BTC.D) has gained 3% amid heightened ETF anticipation, potentially setting the stage for a Bitcoin-led rally post-approval. Marathon Digital has set a new record for its monthly Bitcoin production, mining 1,853 Bitcoin in December, representing a 290% increase year-over-year. At current prices, that equates to over $81 million. Marathon stated in its announcement, “We believe this to be the highest monthly total ever recorded by a public Bitcoin mining company,” surpassing Core Scientific’s previous record of 1,527 Bitcoin mined in Ja

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Andre Francois Mckenzie Vh7U Z75L3U Unsplash

CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH -1.36% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC -2.73% to Bitstamp, leaving about 90k BTC -2.73% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC -2.73% is trading around $66.5k,...

AVAX -9.72% BTC -2.73% ETH -1.36% ETHBTC ETHE N/A% GBTC -0.15% GOOGL +2.64% SOL -3.48% TSLA +4.96% V +0.26%
All-time highs next? Bitcoin holds $62K as the dollar index tumbles to 3-week lows

CRYPTO MARKET UPDATE POLITICAL DEVELOPMENTS CONTINUE TO DOMINATE INVESTOR SENTIMENT FOLLOWING PRESIDENT BIDEN'S WITHDRAWAL FROM THE PRESIDENTIAL RACE ON SUNDAY AFTERNOON. The initial market reaction saw a dip in crypto prices, with Bitcoin falling from $67.5k to $66k. However, the market rebounded after Biden endorsed Harris. Since the U.S. market opened on Monday, we have seen relatively choppy price action. BTC -2.73% is now trading slightly above $67k, while ETH -1.36% remains...

BITI BTC -2.73% ETH -1.36% OP -4.36% SOL -3.48% USDY 0.01%
Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY 0.97%  AND QQQ 1.40%  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -2.73% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -1.36% is trading at $3,450 ahead of potential S-1 approval after...

BONK -5.34% BTC -2.73% DXY N/A% ETH -1.36% JUP -8.65% QQQ +1.4% SOL -3.48% SPY +0.97% WIF -4.28%
Art Rachen YJpjLD3c9bU Unsplash

CRYPTO MARKET UPDATE THE CRYPTO MARKET MOVED HIGHER IN THE EARLY MORNING HOURS AND IS NOW CONSOLIDATING POST-US MARKET OPEN. BTC -2.73% once again challenged the $65k level and is currently sitting just below it, following the ninth consecutive day of net inflows for BTC -2.73% ETFs. ETH -1.36% is showing outsized strength, likely due to ETF issuers filing their final documents yesterday afternoon, with the ETF launch expected on Tuesday (more on...

BTC -2.73% ETH -1.36% ETHBTC JUP -8.65% SOL -3.48% USDT 0.02% WIF -4.28%
FS Insight

Sign in to read the report!

We have detected you are an active member!

or

Sign in with Google

Sign in with Twitter
Ray: c13767-4b260e-929a1a-576328-f20298