Cleanspark, Riot, Cipher and Circle rose higher as the odds of a US rate-cut in December reached its highest level of the month on the prediction market. Several crypto-linked stocks climbed on Friday as prediction-market odds of a December rate cut surged to 87% on Polymarket, the highest level this month. Three US-listed Bitcoin miners led the rally, with Cleanspark, Riot Platforms and Cipher Mining all rising in the session and showing double-digit gains over the past five days. Yahoo Finance data showed Circle, the issuer of USDC, jumped nearly 10% in early trading, while Michael Saylor’s Strategy and Coinbase notched more modest increases at the time of writing. Read more
The fire forced the facility to go offline to maintain safety, but none of the company's mining hardware was damaged in the incident. Greenidge Generation Holdings, a Bitcoin (BTC) mining company, disclosed that a fire broke out at its mining facility in Dresden, New York, where it co-hosts operations with mining company NYDIG. The fire broke out on Sunday due to an “electrical switchgear failure,” forcing the company to de-energize the entire facility, according to a Securities and Exchange Commission (SEC) filing. The fire did not damage the mining rigs, and the company said it would resume normal operations within a “few weeks,” without providing specific dates. Read more
Bitcoin recovered after four consecutive weeks in the red, surpassing the key $89,600 flow-weighted cost basis of Bitcoin ETF holders, the most significant cohort driving BTC inflows. This week, cryptocurrency markets staged a long-awaited recovery, following four consecutive weeks of downside momentum. Bitcoin’s (BTC) price reclaimed the $90,000 psychological mark on Wednesday, bringing some much-needed relief for Bitcoin exchange-traded fund (ETF) holders, who were once again back in profit as BTC traded above the key $89,600 flow-weighted cost basis of ETF buyers. Bolstering investor sentiment, Cathie Wood, the CEO and chief investment officer of ARK Invest, said the company’s $1.5 million Bitcoin bull market price prediction remained unchanged, pointing to billions in returning liquidity following the end of the US government shutdown. Read more
Trading was halted for about 10 hours before being restored on Friday, sparking a public backlash from derivatives and commodities traders. The Chicago Mercantile Exchange (CME), the world’s largest financial derivatives exchange, halted trading for about 10 hours from Thursday into Friday, causing an outcry from traders before service was restored. Trading halted due to a “cooling issue” at the CyrusOne data center in Illinois, a US state, according to an announcement from the CME. Trading was fully restored, and trading for all markets resumed at 1:30 pm UTC on Friday, the CME said in an update. Meanwhile, traders voiced their discontent with the critical failure, which locked some users in their positions, prevented others from placing new trades, and halted price discovery. Read more