{"id":538009,"date":"2023-01-09T23:28:28","date_gmt":"2023-01-09T20:28:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-mining-stocks-surge-with-broader-market-as-traders-see-less-aggressive-fed\/"},"modified":"2023-01-09T23:28:28","modified_gmt":"2023-01-09T20:28:28","slug":"bitcoin-mining-stocks-surge-with-broader-market-as-traders-see-less-aggressive-fed","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-stocks-surge-with-broader-market-as-traders-see-less-aggressive-fed\/","title":{"rendered":"# Bitcoin mining stocks surge with broader market as traders see less aggressive Fed"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40a91c5ed9a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40a91c5ed9a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-stocks-surge-with-broader-market-as-traders-see-less-aggressive-fed\/#%E2%80%9D_Bitcoin_mining_stocks_surge_with_broader_market_as_traders_see_less_aggressive_Fed_%E2%80%9C\" >&#8221; Bitcoin mining stocks surge with broader market as traders see less aggressive Fed &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_mining_stocks_surge_with_broader_market_as_traders_see_less_aggressive_Fed_%E2%80%9C\"><\/span>&#8221; Bitcoin mining stocks surge with broader market as traders see less aggressive Fed &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvYjkxMzAwOTAtZTNkMS00N2RlLTk2ZjYtYTNlZGNhMjI5NTc3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ed77c39>Shares of publicly traded Bitcoin (BTC) miners surged on Jan. 9 as traders piled into equity markets amid growing bets that the United States Federal Reserve would soon be able to relax its aggressive fight against inflation.\u00a0<\/p>\n<p>Bitcoin miners Riot Blockchain (RIOT), Hut8 (HUT), Bitfarms (BITF), Marathon Digital Holdings (MARA) and others posted double-digit percentage gains in intraday trading.\u00a0<\/p>\n<p>The rally coincided with a broad uptick in equity markets, with the large-cap S&amp;P 500 Index rising 1% and the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>-focused Nasdaq climbing 2% before paring gains.<\/p>\n<p>Markets rallied ahead of an eagerly awaited U.S. consumer price index report later this week that\u2019s expected to show a continued moderation in cost pressures. On Jan. 7, data from the Labor Department showed that job creation and wage growth softened in December, suggesting that the Federal Reserve\u2019s rate-hike campaign was having its desired effects. <\/p>\n<p>According to Bloomberg, swap contracts <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/u-s-stocks-rally-as-fed-wagers-encourage-dollar-bears-1.1867389\" data-amp=\"https:\/\/www-bnnbloomberg-ca.cdn.ampproject.org\/c\/s\/www.bnnbloomberg.ca\/u-s-stocks-rally-as-fed-wagers-encourage-dollar-bears-1.1867389.amp.html\">showed<\/a> traders now expect the Fed funds effective rate to peak below 5%, down from 5.06% after Friday\u2019s nonfarm payrolls report. Fed Fund futures prices, meanwhile, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">suggest<\/a> that traders are expecting less aggressive rate hikes in the months ahead.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>BTC price 3-week highs greet US CPI \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>In addition to broadly favorable market conditions, the rally in Bitcoin mining stocks may also be attributable to short covering in a market with low liquidity. Short covering is often responsible for the initial stages of a rally as traders square their positions by buying an asset after shorting it earlier. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> miners ripping today.<\/p>\n<p>Shorts covering into an illiquid market. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/mwSwIB7K23\">pic.twitter.com\/mwSwIB7K23<\/a><\/p>\n<p>\u2014 Dylan LeClair  (@DylanLeClair_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1612501993993474077?ref_src=twsrc%5Etfw\">January 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>With Bitcoin\u2019s price falling 75% peak-to-trough and several crypto firms going bankrupt, contagion has finally begun to spread to the mining sector. In December, Core Scientific, one of the largest BTC miners by computing power, filed for Chapter 11 bankruptcy in Texas. The same month, mining company Greenridge received a $74 million restructuring lifeline from New York Digital Investment Group.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-stocks-surge-with-broader-market-as-traders-see-less-aggressive-fed\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin mining stocks surge with broader market as traders see less aggressive Fed &#8220; Shares of publicly traded Bitcoin (BTC) miners surged on Jan. 9 as traders piled into equity markets amid growing bets that the United States Federal Reserve would soon be able to relax its aggressive fight against inflation.\u00a0 Bitcoin miners Riot&#8230;<\/p>\n","protected":false},"author":1,"featured_media":538010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/b9130090-e3d1-47de-96f6-a3edca229577.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,75042,117,70550,70359],"class_list":["post-538009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-mining","tag-business","tag-federal-reserve","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/538009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=538009"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/538009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/538010"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=538009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=538009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=538009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}