Why Bitcoin- And Ethereum-Related Stocks Are Trading Higher

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc MARA Riot Blockchain Inc RIOT and Bitfarms Ltd BITF, are trading higher Tuesday amid a rise in the price of Bitcoin BTC/USD and Ethereum ETH/USD.

The move higher in the two largest cryptocurrencies by market cap seems to be the result of a technical breakout after the pair settled into bull flag patterns on Monday. 

Related Link: Why Bitcoin Could Soar Over $45,000 — And Soon

See Also: Why Ethereum Looks On Target To Reach New 3-Month High As Crypto Prepares To Skyrocket

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Marathon Digital is focused on mining digital assets. The company owns cryptocurrency mining machines and a data center to mine the digital assets. 

Riot Blockchain is focused on building, supporting and operating blockchain technologies. 

Bitfarms operates blockchain farms that power the global decentralized financial economy. 

BTC ETH Price Action: At publication time, Bitcoin was up 4.07% over a 24-hour period at $42,863 and Ethereum was up 3.53% at $3,006.

Photo: SergDE from Pixabay.