Browsing:BTC

The crypto market surged by $85 billion in a single day
2 months 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 months 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 months 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
3 months 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" and "50k" have a strong social presence
3 months ago 1 min read

Analysts Discuss Bitcoin’s potential rise to $50,000

The on-chain analysis tool Santiment claims that traders are ecstatic about Bitcoin’s (BTC) surge to $48,000. With a 13% surge in price over the last 7 days, traders are speculating about the BTC’s support and resistance levels. Based on the post, traders expected Bitcoin (BTC) to reach $50,000 shortly. “Bitcoin” and “50k” have a strong social presence, which is indicative of this projection. Social dominance measures how much a word or asset is discussed on different social media platforms. Currently, Bitcoin holds the highest percentage of discussion among the top 100 cryptos, with a social dominance of over 5%. In

Bitcoin's (BTC) price surged to over $46,200
3 months 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 months 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

Bitfinex Securities
3 months ago 1 min read

Bitfinex Begins Operating In El Salvador

El Salvador witnessed the launch of Bitfinex Securities El Salvador S.A., marking a significant step toward cementing its position as a crypto-friendly hub and becoming the first platform in the country to introduce tokenized securities. Bitfinex Securities made the official announcement on January 31, 2024, and is now accepting customer applications. This development comes two and a half years after El Salvador accepted Bitcoin as legal currency. Bitfinex Securities became El Salvador’s first registered and licensed digital asset service provider after receiving approval under the country’s Digital Asset Securities Law, which was enacted last year. The Digital Asset Securities Law,

Bitcoin Could Dip to $15,000 Amidst Stock Sell-Offs, Warns Market Expert Gareth Soloway
3 months ago 1 min read

Bitcoin Could Dip to $15,000 Amidst Stock Sell-Offs, Warns Market Expert Gareth Soloway

Market expert Gareth Soloway has issued a warning, predicting that Bitcoin’s price could fall to $15,000 if there is a significant stock market sell-off, despite notable investments from whales. Soloway from verifiedinvesting.com reflected on Bitcoin’s (BTC) historical trends, highlighting moments such as the introduction of Bitcoin futures in 2017 and Coinbase’s public listing in 2021. In addition, he sees the potential approval of Bitcoin spot exchange-traded funds (ETFs) in the US as another key event that could fuel bullish sentiment. While acknowledging that the outflow of funds from the Grayscale Bitcoin Trust (GBTC) and the attractive discount on GBTC shares

Bitcoin will hit $45k soon says a crypto analyst
3 months 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
3 months 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
3 months 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

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