Browsing:BTC

The market value of Bitcoin (BTC) had risen to $1.2 trillion
7 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
8 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,

17 hours ago 1 min read

Crypto markets sees over $150 billion inflow as Bitcoin price soars above $57K

Bitcoin’s (BTC) price soared over $57,000 following several days of trading aimlessly between $51,000 and $52,000, hitting to a 26-month high. The last time the largest crypto by market cap hit $57,000 was in November 2021 when the price hit an all-time high of around $69,000. Bitcoin jump also triggered surge in alternative coins. Cryptos like Solana (SOL) and Bitcoin Cash (BCH), also saw huge rises, with SOL surpassing $110 and BCH reaching $300. Despite a quiet 7-day period last week, BTC’s bull run restarted on Monday afternoon, with the price surging to over $53,500. It is noteworthy that Bitcoin

Bitcoin spot ETF's reaches 2.4B in trading volume
18 hours ago 1 min read

Bitcoin spot ETF’s reaches 2.4B in trading volume

On February 26, Bitcoin exchange-traded futures (ETFs) experienced a record-breaking surge in trade volumes, hitting $2.4 billion within 24 hours. This event was triggered by a significant rise in Bitcoin’s value above $56,000 USD, setting a new benchmark for the crypto market, particularly for the newly launched Bitcoin ETFs. In addition, the surge comes after simultaneous increase in Bitcoin’s price, suggesting a connection. This possibly drove investors towards Bitcoin ETFs as a more accessible investment option. Note that BlackRock’s iShares Bitcoin ETF contributed 55% (over $1B) of the total volumes, while other key players like Grayscale GBTC also contributed to

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

The most current data available from CoinShares indicates that last week saw record inflows of $2.45 billion globally into crypto funds
1 week ago 1 min read

BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares had record inflows of $2.45 billion last week

The most current data from CoinShares indicates that last week saw record inflows of $2.45 billion globally into crypto funds managed by asset managers. This includes BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares. With $5.2 billion raised for digital asset investment products so far this year, the new US-listed Bitcoin exchange-traded funds (ETFs) have proven to be the most successful thus far. According to CoinShares Head of Research James Butterfill, assets under management (AUM) at crypto investment firms have surpassed $67 billion, the highest amount since December 2021, the height of the previous bull market. Not to mention the recent

Bitcoin to $150,000 Soon
2 weeks ago 1 min read

Bitcoin to $150,000 Soon, Predicts This Hedge Fund Veteran

Mark Yusko, the founder and CEO of Morgan Creek Capital, thinks that the Bitcoin (BTC) bull market just started. Yusko claims that BTC may reach $150,000 by the middle of next year in an interview on The Wolf of All Streets YouTube channel. He notes that this price will double the fair value of BTC. Yusko claims that the number of Bitcoin miners and users and the network effects of the crypto are used to estimate the fair value of Bitcoin. Mark Yusko says, “It’s possible that [Bitcoin’s] fair value only goes to $75,000 or $80,000 [this bull cycle]. Let’s

The crypto market surged by $85 billion in a single day
2 weeks ago 1 min read

Bitcoin surpasses $52K, leading a massive $85B surge in the crypto market

The crypto market surged by $85 billion in a single day, showing the strength of the financial system. This was fueled by a notable increase in the price of Bitcoin (BTC), which broke above $52,000 for the first time in more than two years. This incredible increase indicates a strong comeback in investor confidence, particularly in light of the recent approval of a Bitcoin ETF, which started a rally across the board. The revolutionary digital asset, bitcoin, saw an incredible surge, breaking through multiple resistance levels and ultimately surpassing the $50,000 mark. BTC demonstrated its volatile yet ascendant nature by

This company predicts Bitcoin price to reach $112,000 in 2024
2 weeks ago 1 min read

This company predicts Bitcoin price to reach $112,000 in 2024

A company called CryptoQuant, which offers on-chain data and analysis, has projected the price of Bitcoin (BTC) to rise sharply by 2024. According to the company, if the inflows from spot Bitcoin exchange-traded funds (ETFs) continue at the current pace, the price of BTC could reach $112,000 this year. The firm added that the worst-case price for BTC is $55,000, still a 15% rise over its current value. The forecast was based on how inflows affected the market cap of BTC and a ratio that gauges its valuation. According to Ki Young Ju, CEO of CryptoQuant, spot Bitcoin ETF inflows

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