Bitcoin is on track for its best weekly performance in more than a month, with the world's largest cryptocurrency continuing to approach the $70,000 level.
Bitcoin’s price is up 9 percent this week, trading at around $68,400 at the time of writing. Ethereum is up 8.3 percent and Solana is up 6.2 percent during the same period.
Bitcoin’s strong performance this week has also had a positive impact on crypto-related stocks and exchange-traded funds.
Cryptocurrency miners Hive Digital (HIVE) and Hut 8 (HUT) gained close to 15%, while larger miners like CleanSpark (CLSK), Riot Platforms (RIOT), and Bitfarms (BITF) gained between 7% and 10%. Coinbase (COIN) shares rose nearly 8%, while MicroStrategy (MSTR) gained over 11%.
In the last 24 hours, a total of $113 million worth of positions were liquidated on centralized exchanges. Bitcoin was the leader among liquidated positions, with over $30 million liquidated in the last day.
On Wall Street, major banks started the third-quarter earnings season strong with names like JPMorgan and Morgan Stanley leading the way, while BlackRock CEO Larry Fink said they see Bitcoin as an asset class.
Stay tuned for new information.
