3.15
price up icon8.42%   0.24
after-market After Hours: 3.09 -0.06 -1.90%
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Why is Hive Digital Technologies Ltd (HIVE) Stock down?

We've noticed a 5.43% decline in Hive Digital Technologies Ltd (HIVE) stock during the 2024-10-01 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
28 Dec, 2023:

HIVE Digital Technologies Ltd. (HIVE) stock dropped by 6.64% due to Bitcoin experienced a pullback following a period of strength, as the company derives its revenue from Bitcoin mining. This drop was exacerbated by technical analysis indicators, indicating that RIOT shares had surged following major gains amid pending approval for a spot bitcoin ETF by the SEC, historically signaling an impending pullback and prompting profit-taking actions by investors. Additionally, the recent rally in RIOT and other crypto-related assets was fueled by speculation surrounding the regulatory approval of Bitcoin ETFs, attracting institutional interest, and the anticipation of 2024 catalysts like "the Halvening" in the cryptocurrency market. This event is expected to reduce Bitcoin miner rewards and increase scarcity, aligning with rising institutional demand. The episode highlights the inherent volatility of cryptocurrency-related assets and their sensitivity to Bitcoin price fluctuations and technical signals.

11 Dec, 2023:

Shares of HIVE Digital Technologies Ltd. (HIVE) dropped by 20.48% from $4.20 to $3.34 in the trading on Monday, December 11, 2023. The reason why HIVE down today is due to a pull back in the price of Bitcoin BTC witnessed a sudden "flash crash" on the evening of December 10, 2023, plummeting from approximately $43,800 to nearly $40,500 within minutes. Although prices partially recovered to $42,400, they dipped again during U.S. trading hours, hitting a low of $40,200, a key support level from its recent rally. The close connection between Bitcoin's price movements and HIVE shares underscores the interdependence of the cryptocurrency market and its influence on related assets like HIVE's stock. Investors and traders will closely monitor these developments in the crypto space.

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