Live markets: Bitcoin bounces, HYPE falls, NEAR gets demolished as crypto deals with a wipe out
SkimNews Take
While Bitcoin's recovery offers a temporary reprieve, the continued multi-day slide in major crypto exchanges and investment firms suggests a broader-based investor capitulation rather than a simple market correction.
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- Bitcoin climbed back to $64,000 after nearly falling through $60,000 overnight.
- Bullish and Gemini each rose about 4% in morning trading, leading the crypto sector.
- Coinbase and Robinhood also posted gains as crypto‑linked stocks edged higher.
- Galaxy Digital fell about 3% on Friday despite news that its Helios data center campus in Texas has 1.63 GW of approved grid capacity, among the largest in North America.
- ERCOT approved eligibility rules for Batch Zero, a step that could clarify status of additional power under study at Helios when project classifications are issued on Aug. 7.
Why it matters: Crypto investors get modest relief as Bitcoin rebounds and Bullish and Gemini rise, while Galaxy Digital shareholders see a 3% dip despite Helios data center growth. ERCOT’s Batch Zero approval clears a step toward additional power at Helios by Aug. 7.
