Bitcoin Surge Powers Riot, Marathon Into Golden Cross Territory: Are Crypto Bulls Back?
Posted On December 4, 2024
Bitcoin‘s (CRYPTO: BTC) fiery resurgence, rallying over 38% in the past month, has lit a spark under cryptocurrency miners Riot Platforms Inc (NASDAQ:RIOT) and Marathon Digital Holdings Inc (NASDAQ:MARA).
Both stocks have achieved a Golden Cross — a technical milestone where the 50-day moving average surpasses the 200-day moving average — igniting bullish momentum among traders.
Riot Platforms: Catching The Bitcoin Wave
Riot Platforms has ridden Bitcoin’s rally to a 35% surge in the past month, recovering from a rocky year.
Chart created using Benzinga Pro
The stock trades at $12.14, above its 50-day SMA of $10.18 and its 200-day SMA of $10.18 …