Bitcoin returns above $48,000 as risk rally continues.
Chinese miners have been speeding up their migration to alternate locales while U.S. miners are expanding their capacity as bitcoin’s price rallies.
Analysts expect higher volatility ahead of Friday’s month-end expiry.
Cryptos gain alongside stocks.
The Bitcoin blockchain's mining difficulty increased by 13%, but industry experts say operators are still looking at fat profits ahead.
“The fear is gone for now, and the market is optimistic,” Arcane Research wrote in a Tuesday newsletter. But not enough to keep bitcoin's price above $50K.
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
The issuer of the world's largest stablecoin has minted 2.3 billion new USDT tokens since the start of August.
The latest data reflected a reversal after six consecutive weeks of outflows.