Crypto stocks back in the green as Bitcoin rebounds off one-month lows

Crypto-related stocks are gaining some upside momentum Wednesday afternoon as Bitcoin (BTC-USD) rebounds off a key level of technical support. Some crypto-focused stocks making the most pronounced upswings intraday include: Bit Mining (BTCM +9.3%), Marathon Digital (NASDAQ:MARA +5.3%), Hut 8 Mining (HUT +4.7%), Galaxy Digital (OTCPK:BRPHF +6.2%), MicroStrategy (MSTR +4.7%), Bakkt (BKKT +4.6%) and Ebang International (EBON +8.4%). Meanwhile, Bitcoin (BTC-USD +2.8%) is rising to $41.21K after reaching as low as $39.19K on Tuesday. The digital coin is still off more than 5% over the past five sessions and -13.6% YTD. Overall, BTC has been trending in a nearly six-month cyclical decline in a backdrop of geopolitical uncertainty, tighter monetary policy and surging inflation. Also, Ethereum (ETH-USD +1.9%) is climbing firmly above its $3K key level, recently changing hands at $3.10K. Note that the Ethereum Network's transition to Proof-of-Stake will take longer than expected, according to a tweet from Ether core developer Tim Beiko. "It won't