- Bitcoin traded at $73,877 USD, down 1.1% on April 14, 2024.
- Fear & Greed Index hit 23, per Alternative.me.
- MarketBeat picks MARA, RIOT, COIN with 0.8+ Bitcoin correlations.
MarketBeat on April 14, 2024, identified Marathon Digital Holdings (MARA), Riot Platforms (RIOT) and Coinbase Global (COIN) as top cryptocurrency stocks. Bitcoin traded at $73,877 USD. Alternative.me's Fear & Greed Index read 23.
Current Cryptocurrency Prices
Bitcoin fell 1.1% to $73,877 USD during the 24 hours ended April 14, 2024, CoinGecko reported. Ethereum dropped 2.6% to $2,319.04 USD. BNB declined 0.1% to $614.53 USD. XRP slid 1.4% to $1.36 USD.
Bitcoin's 24-hour trading volume reached $45.6 billion USD. Its market capitalization stood at $1.45 trillion USD, CoinGecko data showed. Ethereum's volume hit $18.2 billion USD.
Bitcoin miners base revenue on its price. Exchanges generate fees from trading volume.
Fear & Greed Index at 23
Alternative.me's Fear & Greed Index scored 23 on April 14, 2024. The index incorporates volatility (25% weight), market momentum/volume (25%), social media sentiment (15%), surveys (15%) and Bitcoin dominance (20%).
Scores below 25 indicate extreme fear, per Alternative.me methodology. USDT maintained its $1.00 USD peg, CoinGecko confirmed.
Bitcoin Halving Scheduled for April 19
Bitcoin's fourth halving occurred on April 19, 2024, reducing block rewards from 6.25 BTC to 3.125 BTC, CoinDesk reported. Halvings take place every 210,000 blocks, roughly four years.
CoinDesk analysis calculated annual inflation at 0.85% post-halving. Global hashrate increased 15% year-to-date to 620 EH/s as of April 14, CoinGecko stated.
Spot Bitcoin ETF Inflows Reach $15.2 Billion
The SEC approved 11 spot Bitcoin ETFs in January 2024. These funds hold physical Bitcoin reserves. Net inflows totaled $15.2 billion USD through April 14, Farside Investors tracked.
BlackRock's IBIT ETF held $8.4 billion USD in assets under management. Grayscale's GBTC managed $18.6 billion USD. MarketBeat's crypto sector page lists related equities.
MarketBeat's Top Cryptocurrency Stocks
MarketBeat screened cryptocurrency-exposed stocks on April 14, 2024, based on trading volume, volatility and Bitcoin correlation. Selections included:
- Marathon Digital Holdings (MARA)
- Riot Platforms (RIOT)
- Coinbase Global (COIN)
30-day correlations to Bitcoin exceeded 0.8 for each, MarketBeat data indicated.
Marathon Digital Holdings (MARA)
Marathon Digital reached 23.3 EH/s hashrate as of March 31, 2024, its SEC Q1 filing disclosed. The firm mined 4,144 BTC in Q1 2024, a 271% increase from Q1 2023.
MARA shares closed at $22.45 USD on April 14, up 5.2% for the day. Trading volume hit 52 million shares. Average energy costs stood at 3.6 cents per kWh.
Riot Platforms (RIOT)
Riot Platforms aimed for 31 EH/s hashrate by end-2024, per its investor update. The company mined 1,530 BTC in March 2024. Q1 electricity costs averaged 4.2 cents per kWh, SEC filing showed.
RIOT's beta to Bitcoin registered 3.8. Shares traded at $10.67 USD on April 14. Capacity expansions proceeded in Texas facilities.
Coinbase Global (COIN)
Coinbase reported $1.6 billion USD in Q1 2024 revenue during its earnings call. Trading volume rose 190% quarter-over-quarter.
The platform custodies Bitcoin for spot ETFs. COIN shares reached $238.50 USD on April 14. Consumer transaction revenue increased 115% year-over-year.
30-Day Stock Correlations to Bitcoin
MarketBeat computed a 0.82 correlation for MARA to Bitcoin over 30 days ending April 14. RIOT showed 0.79. COIN registered 0.85.
Miners compete on hashrate efficiency. Exchanges collect fees on transaction volume.
Trading Outlook for Best Cryptocurrency Stocks
Bitcoin tested $73,000 USD support on April 14, MarketBeat technical charts showed. Spot ETF inflows averaged $500 million USD weekly through the period, Farside Investors data indicated.
MarketBeat monitors hashrate growth, trading fees and regulatory developments for best cryptocurrency stocks. The firm updates its lists daily.
