Browsing:Bitcoin

The market value of Bitcoin (BTC) had risen to $1.2 trillion
8 hours ago 1 min read

Bitcoin (BTC) Surges Above $61,000 as Bull Rally Continues

On February 28 2024, the market value of Bitcoin (BTC) had risen to $1.2 trillion, up 6.5% in the last 24 hours, and the price had soared above $61,000. This comes as the combined trading volumes of almost $3 billion propelled the price increase on Tuesday, and several traders pointed to the bitcoin halving event as a fresh narrative that caused a rally before the halves. Since the early hours , over $40 million worth of future bets on lower Bitcoin prices have been liquidated, which could have contributed to the price increase. Since then major tokens such as XRP,

Bitcoin ETFs see over $570M boost
9 hours ago 1 min read

Bitcoin ETFs see over $570M boost, marking a surge in crypto investment confidence

The crypto market is experiencing a significant surge in investment, particularly in Bitcoin Exchange-Traded Funds (ETFs). BitMEX exchange data shows that these ETFs secured over $570 million in new investments, marking the third-highest day for investments. Moreover, this influx amounts to around 10,168 BTC, indicating the growing trust and interest in crypto among investors. Furthermore, the trend continues to gain momentum, with investments rising by about $55 million from one day to the next. Note that BlackRock’s IBIT ETF saw an influx of $520 million in just one day, boosting its total investments to $6.5 billion. On the other hand,

will BTC hit a new all-time high
2 days ago 1 min read

Bitcoin hits $57K, up over 10% in 24 hours

Bitcoin (BTC), the king of crypto, experienced a 6% gain with the price reaching $57,000 for the first time since November 2021. The rally began with BTC taking out $53,000, and later rose above $54,000. After that, the price rose to $55,000, $56,000, and $57,000 levels, according to CoinMarketCap data. This move sparked significant activity in spot Bitcoin exchange-traded futures (ETFs), with a record-high of $2.4 billion in trading volume on Monday. Yesterday, MicroStrategy Incorporated announced it has increase its Bitcoin holdings by acquiring around 3,000 BTC for an estimated $155.4 million in cash, highlighting the firm’s continued confidence in

the price of Bitcoin (BTC) is hovering around $53,446
2 days ago 1 min read

Bitcoin (BTC) surges past $53k for first time since 2021 as trading volume soars by 30%

As of this writing, the price of Bitcoin (BTC) is hovering around $53,446. This is the first time it has broken the $53,000 mark since 2021. The largest crypto by market cap reached over $53,600, according to CoinMarketCap. With over a 3.8% increase over the previous 24 hours, Bitcoin was trading at $53,455 as of press time. Aside from Bitcoin, Ethereum, the second-largest crypto, has risen by over 4% from its intraday low and is now trading above $3,155. However, the ETH-BTC ratio is down 2.10%. This indicates the strength of the Bitcoin-led rise. Trading volume across the board went

Torrevieja is striving to become a leader in the use of digital currency
2 weeks ago 1 min read

Torrevieja sets to pioneer a digital economy by embracing crypto payments

Enormous and ‘crypto-friendly’, Torrevieja is striving to become a leader in the use of digital currency, such as Bitcoin, to modernize and bolster its economy. This initiative is being spearheaded by APYMECO, the merchant association. Their goal is to facilitate the acceptance of digital currencies like Bitcoin as payment by retailers. The idea is to link traditional business with the emerging digital world by allowing consumers to make purchases using digital currency. Rosario Martínez Chazarra, the city’s Commerce Councilor, thinks that this is a major improvement for small businesses, making it simpler for consumers to use digital currency. Though digital

Bitcoin (BTC) surges past $50,000 for the first time since December 2021
2 weeks ago 1 min read

Bitcoin (BTC) surges past $50,000 for the first time since December 2021

The price of Bitcoin (BTC), the largest crypto by market cap, has surpassed $50,000 for the first time since December 2021. According to Coinbase data, Bitcoin (BTC) crossed the $50,000 threshold at 11 a.m. Eastern Time (5 p.m. Central European Time) on Monday. BTC has increased in value over the last seven days by more than 15% from its price of less than $22,000 at this time last year. It is now 16% higher than it was a month ago. After several eagerly anticipated exchange-traded funds (ETFs) were approved in January, it appeared as though Bitcoin would have a slow

Bitcoin (BTC) surges for the 7th consecutive day
2 weeks ago 1 min read

Bitcoin (BTC) surges for the 7th consecutive day, currently trading above the $48K mark

Bitcoin is getting close to reaching the much-awaited $50K milestone as investor interest in the recently introduced Bitcoin ETFs rises. A recent report from a senior Bloomberg analyst claims that Bitcoin is rising steadily and has been increasing every day for the past seven days. In recent days, inflows into Bitcoin ETFs have increased sharply, emulating the initial days of the ETF’s introduction. ETF inflows hit over $400 million in a single day, surpassing $9 billion after a month of the launch. Despite the sharp decline in Grayscale’s GBTC ETF, Bloomberg’s senior ETF analyst, James Seyffart, provided updates on the

Bitcoin's (BTC) price surged to over $46,200
3 weeks ago 1 min read

Bitcoin’s price climbs to over $46,200, nearing a one-month high following ETF approvals

On February 8, Bitcoin’s (BTC) price surged to over $46,200, a significant rise that was almost exactly mirrored by its performance. This comes almost a month after the approval of spot Bitcoin Exchange-Traded Funds (ETFs). With a market cap of over $908 billion, the most valuable crypto is on the verge of a substantial upswing. This was evidenced by its most recent valuation of $46,263, which was reached. The fact that this recovery is still below the month’s high of $48,500 on January 11 highlights the inherent volatility of the market. The crypto market as a whole has seen a

MicroStrategy has increased the size of its crypto holdings
3 weeks ago 1 min read

MicroStrategy Buys 850 Bitcoin (BTC) for $37.2 million

Known for taking a bullish position on Bitcoin (BTC), MicroStrategy has increased the size of its crypto holdings, which as of January stood at 190,000 BTC. Under the direction of Executive Chairman Michael Saylor, the firm spent $37.2 million to buy an extra 850 BTC at an average cost of $43,764—a little bit more than the $43,200 current market value. In addition, the company disclosed an average price of $31,224 in its year-end financial disclosure for Bitcoin purchases, demonstrating the firm’s systematic approach to acquisitions. “With 31,755 Bitcoins added since the last quarter, we’ve seen our largest quarterly boost in

Bitcoin will hit $45k soon says a crypto analyst
1 month ago 1 min read

Bitcoin will hit $45k soon, says a crypto analyst

After navigating through a challenging two weeks marked by a significant 21% price dip, Bitcoin (BTC) staged an impressive comeback, concluding the last week on a positive note. The flagship crypto’s strong performance resulted in the formation of a Doji Hammer candle on the weekly chart, indicating a possible bullish reversal. This resurgence has successfully pushed Bitcoin’s price back into its previous trading range of $41,300 to $45,000. Keith Alan, co-founder of Material Indicators, emphasized the importance of this pattern, suggesting, “Looks like we have a Doji Hammer candle forming on the BTC Weekly chart. That typically indicates a bullish

The number of Bitcoin (BTC) addresses with more than 1000 BTC has reached an all-time high
1 month ago 1 min read

Bitcoin whales with over 1,000 coins increase accumulation

The number of Bitcoin (BTC) addresses with more than 1,000 BTC has reached an all-time high, indicating resilience among large holders despite the crypto’s recent performance following ETF approval. According to the most recent IntoTheBlock data, Bitcoin was trading at $41,760, a 15% drop from its peak of $48,625 just a day after exchange-traded funds (ETFs) were approved. Despite the market’s bearish sentiment, significant BTC whales with holdings of more than 1,000 coins have increased their accumulation efforts, indicating a strong belief in the asset’s long-term potential. On the other hand, investors with BTC holdings ranging from 1 to 1,000

Celsius Network has sparked market activity by transferring more than $1 billion in Ethereum (ETH) to exchanges
1 month ago 1 min read

Celsius Network transfers over $1 billion in Ethereum to exchanges, possibly for creditor repayments

Celsius Network, a crypto lender, has sparked market activity by transferring more than $1 billion in Ethereum (ETH) to exchanges such as Coinbase, Paxos, and FalconX. This transaction, totaling 459,561 ETH, continues Celsius’ trend of large fund transfers, raising concerns about its intentions. Celsius sent 300,000 ETH to Coinbase Prime, with additional funds going to Paxos and FalconX. Spot on Chain, a crypto analysis firm, revealed that Celsius has been on a fund-moving spree, transferring a total of 740,321 ETH (around $1.69 billion) to exchanges since November 2023. Despite these substantial transfers, Celsius still has 62,468 ETH worth approximately $139