The stock prices of Bitcoin miners have been on a torrid run this week as the bitcoin (BTC) price rose more than 2% to the $30,500 level. Marathon Digital and Hut 8 Mining had the greatest surge, with a 15-14.6% increase respectively and were ahead almost 50% for the week. This was followed suit by Stronghold Digital, Iris Energy, and Bit Digital that increased by 26%, 15%, and 18%, respectively.

Despite their impressive rise, the stocks of these miners remain low compared to their year-ago levels due to their acute struggle with high energy prices that have been coupled with a bearish trend in the cryptocurrency market which places the Bitcoin prices more than 50% below its all-time high.

The United States Federal Reserve may change its stance on the 18-month long-term interest rate cycles following the news of the release of Producer Price Index that reported a 2.7% year over year increase, behind expectations of a 3% rise and the core PPI that fell to 3.4%. Furthermore, Initial Jobless Claims for the week ending April 8 rose to 239,000, the highest level since January 2022.

Hence, by looking at the recent data released, short-term interest rate markets are currently allocating a 60% chance of a 25-basis point rate hike next month when the Federal Reserve meets on May 2-3. The slowing inflation and Jobs Market could signify that the Federal Reserve is prepping for a pause or even a reversal of their previously declared interest rate increments. This could potentially get the Bitcoin Miners stocks chiming again.



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