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

Executium PCWOez71S1E Unsplash

CRYPTO MARKET UPDATE AFTER ANOTHER DAY OF SIZEABLE OUTFLOWS FROM ETHE 4.58% , THE GRAYSCALE-ISSUED ETF NOW RETAINS JUST 85% OF THE AUM IT BEGAN WITH ON TUESDAY. However, crypto has rallied strongly since the US market closed yesterday, with BTC 2.99% briefly moving above the $68k level, ETH 2.79% rebounding sharply to $3,250, and SOL 6.00% revisiting $184. Among larger-cap tokens, SOL beta names including RNDR and JUP have outperformed over the past 24...

BTC 2.99% CFX 19.75% ETH 2.79% GBTC +4.88% IBIT JUP -8.65% RNDR -3.51% SOL 6.00%
Executium ClCAEiWideU Unsplash

CRYPTO MARKET UPDATE CRYPTO WAS CERTAINLY LOOKING STRONG RELATIVE TO EQUITIES YESTERDAY UNTIL ASIAN MARKET HOURS COMMENCED. Shortly after the HK market opened, we saw increased sell pressure and approximately $100 million in liquidations across all crypto assets, bringing BTC 2.99% down to below $64,000, ETH 2.79% down to $3,150, and SOL 6.00% to just below $170. This contrast in price action during U.S. and Asia market hours has been consistent throughout July....

AAVE 5.06% BTC 2.99% ETH 2.79% MARA +6.31% SOL 6.00% TRX 1.26%
Executium TN 6BYSMrQs Unsplash

CRYPTO MARKET UPDATE RATES ARE BROADLY LOWER, WITH A NOTABLY STRONGER RALLY AT THE FRONT END OF THE CURVE AS THE MARKET APPEARS TO BE TAKING POTENTIAL RATE CUTS OVER THE NEXT COUPLE OF FOMC MEETINGS MORE SERIOUSLY. Despite significant weakness in equities today, the crypto market is looking relatively healthy, with BTC 2.99% and many altcoins in the green. BTC 2.99% briefly rallied above $67k but has since drifted back down...

BTC 2.99% ETH 2.79% GBTC +4.88% IWM +1.75% QQQ +1.08% SOL 6.00% ^SPX
Andre Francois Mckenzie Vh7U Z75L3U Unsplash

CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH 2.79% 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 2.99% to Bitstamp, leaving about 90k BTC 2.99% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC 2.99% is trading around $66.5k,...

AVAX 5.23% BTC 2.99% ETH 2.79% ETHBTC ETHE N/A% GBTC +4.88% GOOGL -0.17% SOL 6.00% TSLA -0.12% V +2.1%

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In