Bitcoin has traded sideways in the $63,000 range over the past month, but asset manager VanEck views the move as an extension of a correction rather than a bottoming signal. In a report, it cited defensive derivatives positioning, weakening mining profitability and outflows from spot ETPs as signs short-term downside pressure remains. Trading activity and realised volatility have cooled. VanEck also flagged corporate selling, while on-chain data show rising long-term holding.

Mara Holdings shares rose about 15 percent early after it announced plans to buy a Texas power site to expand digital infrastructure for AI computing and bitcoin mining. The site is a 1,200-acre tract in Matagorda County with access rights of up to 2 gigawatts, with an initial 1 gigawatt expected by October 2027. Mara said the project is early-stage and subject to regulatory approvals, with phased construction over several years.