Marathon Digital (NASDAQ: MARA) stock surged during intraday trading on Monday as Bitcoin rebounded from recent lows.
Bitcoin witnessed a notable rebound, rising more than 2% over the past 24 hours following a challenging month where it fell about 10%. The broader crypto space gains strength from this upward movement, benefiting crypto-related stocks.
Shares of Riot Platforms (NASDAQ: RIOT) and CleanSpark (NASDAQ: CLSK) saw significant gains, surging 8.86% and 12.35%, respectively. These increases reflect growing investor confidence as Bitcoin begins to recover.
Bitcoin’s recent rise may be due to significant inflows into spot ETFs, which reached their highest in two weeks on Friday, totaling $73 million. While the Grayscale fund experienced outflows exceeding $27 million, other ETFs showed strong inflows. The BlackRock ETF alone recorded a single-day inflow of $82.43 million, and the Ark Invest and 21Shares funds collectively attracted $42.8 million.
Seasonal trends also favor Bitcoin this month. Historically, Bitcoin performs strongly in July, with a median return rate of 9.6%, considerably higher than in June.
Marathon Digital (NASDAQ: MARA) Stock Reaction
MARA stock jumped 13.65% on Monday, closing at $22.56, marking a 20.71% increase for the week. The trading volume was 74,453,648 shares, significantly higher than the average daily volume of 45.70 million.
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