10x Research: The market downturn has not yet reversed; BTC mining companies and crypto firms performed poorly this week.
TL;DR
10x Research reports that Bitcoin prices remain low due to policy uncertainty, with the market downturn not yet reversed. Crypto firms and mining companies performed poorly this week, despite some positive developments.
Tags
Odaily Odaily reports that 10x Research released its weekly crypto market review, noting that Bitcoin prices remain low due to global policy uncertainty and legislative delays, with the market downturn yet to be reversed. The overall performance of publicly traded cryptocurrency companies was poor. Coinbase's new product launch failed to offset the overall market weakness, and Strategy's stock price remained weak. Although ARK Invest increased its holdings in BitMine, it did not boost the stock price. Among Bitcoin mining companies, Bitdeer faced class-action lawsuit pressure, CleanSpark's earnings fell short of expectations and faced insider selling, Iren received a neutral rating and its stock price declined, and despite TeraWulf completing a large financing round, its stock price still fell due to equity dilution.