Bitcoin Surges Above $90,000 as Market Sentiment Recovers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20h ago
0mins
Source: Benzinga
- Bitcoin Rebound: Bitcoin surged by 1.32% to surpass $90,000, breaking a week-long losing streak, indicating a recovery in market sentiment that may attract more investor interest.
- Ethereum Recovery: Ethereum rose by 1.99% to reclaim $3,000, reflecting the overall cryptocurrency market's resurgence, which could drive up the stock prices of related companies.
- Market Liquidation: Over $630 million was liquidated in the last 24 hours, indicating significant volatility in long and short positions, particularly with Bitcoin's open interest falling by 0.35%, suggesting bearish traders are closing their positions.
- Stock Market Surge: The Dow Jones Industrial Average rallied by 588.64 points, or 1.21%, as Trump announced the cancellation of tariffs on EU countries, leading to a return of risk-on sentiment that dragged traditional safe havens lower.
Analyst Views on BMNR
Wall Street analysts forecast BMNR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BMNR is 43.00 USD with a low forecast of 39.00 USD and a high forecast of 47.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 29.350
Low
39.00
Averages
43.00
High
47.00
Current: 29.350
Low
39.00
Averages
43.00
High
47.00
About BMNR
Bitmine Immersion Technologies Inc. is a Bitcoin (BTC) and Ethereum (ETH) network company, focusing on the accumulation of Crypto for long-term investment. The Company’s business lines include Bitcoin Mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies, and general Bitcoin advisory to public companies. Its business integrates a digital asset treasury anchored in ETH with an operating platform historically focused on BTC mining and hosting. Through its legacy mining-as-a-service business, it provided turnkey infrastructure and management solutions for institutional clients seeking BTC mining exposure without direct operational obligations. The mining-as-a-services include hardware sales and deployment support; operations management, uptime maximization, and pool payout optimization; and financial reporting and compliance support.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
