Marathon Digital ( #MarathonDH ) announced that they bought 4,144 BTC ($249M) at an average price of $59,500 from Aug 12 to Aug 14.

On-chain data shows that Marathon has received 3,896 #BTC ($227.9M) from #GalaxyDigital , #FalconX and #NYDIG .

📊 $BTC #NYDIG : Despite bitcoin's sideways trend over the past few months, its current price remains higher than it was following the 2020 halving (halving 3) and is only slightly below its position after the 2016 halving (halving 2).

We are entering the period of the cycle where bitcoin has typically had some of its best returns, if the past 2 cycles are any guide.

NYDIG analysts report that Bitcoin has seen a 49.2% rise so far this year, positioning it as the top-performing asset in 2024. As we head into Q4, a season typically favorable for BTC, the outlook remains optimistic. With factors like the U.S. elections on November 5 approaching, the momentum could keep building. Are we gearing up for another Bitcoin bull run? 🚀

#MarketDownturn #NYDIG #BTC☀