Publicly traded Bitcoin mining stocks have exhibited a beta of approximately 1.5-2.5x relative to Bitcoin's price, meaning they amplify Bitcoin's moves due to their operational leverage and fixed costs; this makes them a high-risk, high-reward proxy for Bitcoin exposure.
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Publicly traded Bitcoin mining stocks have exhibited a beta of approximately 1.5-2.5x relative to Bitcoin's price, meaning they amplify Bitcoin's moves due to their operational leverage and fixed costs; this makes them a high-risk, high-reward proxy for Bitcoin exposure.
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Order book depth likely thinned during the crash, with widened spreads and reduced liquidity, exacerbating volatility, though it recovered as market makers and institutional players re-entered.
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