Stock Track | BitMine Immersion Technologies Inc. Soars 6.43% Intraday as Bitcoin Tops $91,000 and Fed Rate Cut Optimism Grows
Stock Track
Nov 28
BitMine Immersion Technologies Inc. (BMNR) surged 6.43% during Friday's intraday trading, mirroring a broader rally in crypto-related stocks. The surge coincided with Bitcoin climbing above $91,000 for the first time in nearly a week, reigniting investor optimism in the digital asset sector.
The rally was further fueled by growing expectations of Federal Reserve rate cuts, which historically benefit risk assets like cryptocurrencies. Additionally, BlackRock’s US Bitcoin ETF reported fresh inflows, snapping a streak of redemptions and bolstering bullish sentiment. Traders are betting that the worst of the recent crypto selloff may be over, driving renewed interest in stocks like BMNR.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.