Crypto-related stocks rise in U.S. premarket trading amid Bitcoin rally

Shares in companies exposed to cryptocurrencies rose in premarket U.S. trading on Tuesday

Following a two-week surge in the price of major digital token Bitcoin.

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As of 05:47 ET (10:47 GMT), Bitcoin was trading up by 1.29% at $21,128.0, extending its recent winning streak into a fourteenth day.

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It is now on course for its longest rally since last November.

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The move drove crypto-related stocks higher,

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Including exchange platform Coinbase Global Inc (NASDAQ:COIN),

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As well as cryptocurrency miners like Hut 8 Mining Corp (NASDAQ:HUT), Bitfarms Ltd (NASDAQ:BITF),

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And Marathon Digital Holdings Inc (NASDAQ:MARA).

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Investors are now hoping that the decline in Bitcoin seen in 2022 May have bottomed.

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Its price fell sharply last year as fears over a spike in inflation fueled a round of central bank policy

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Tightening that sparked an exodus from cryptocurrencies, which have increasingly been grouped in with riskier assets like stocks.

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