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Stock impact report

Bitcoin Holds Firm Above $70,000 as Global Assets Recover [Yahoo! Finance Canada]

Coinbase Global, Inc. - 3Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Richard Galvin, co-founder of hedge fund DACM, pointed to Bitcoin's premium on Coinbase, which had reversed from a discount on Sunday, as indicative of returning bullish sentiment in the US. In recent days, Bitcoin has even outperformed gold, to which the digital asset is often compared but seldom resembles. Since Friday, the day before the strikes, gold has fallen nearly 2%, while Bitcoin is up nearly 12% in the same period. Until this week, the trend in recent months had largely been the opposite, as bullion repeatedly hit record prices while Bitcoin tumbled. Cryptocurrencies have failed to find a sustainable rally since a sharp selloff in October, just after Bitcoin hit a record price above $126,000. The token has since shed more than 40% of its value. Investors had been fleeing to other assets until the new conflict in the Middle East, which left traders rushing to find a haven amid uncertainty around how long the war might last. So far in March, investors have poured nea Show less Read more
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