Bitcoin

The Bitcoin market experienced a major downturn earlier this week attributed to concerns regarding the US economic outlook and increased volatility in the broader financial markets. Notably, Ethereum’s performance lagged, potentially influenced by heightened futures market activity and selling pressure from select large holders. Despite these challenges, asset manager and exchange-traded fund (ETF) issuer Grayscale remains optimistic about the potential for token valuations to rebound if the US economy continues on a trajectory toward a “soft landing.” Even in a…

Bitcoin has recently surged to $58,000, driven by a significant increase in inflows into exchange-traded funds (ETFs). This rise marks a renewed confidence among investors, particularly institutional ones, who are turning to Bitcoin as a stable and promising investment. The spike in ETF inflows has played a crucial role in boosting Bitcoin's price, highlighting the growing interest in regulated crypto investment options. As Bitcoin reaches new heights, the focus on cryptocurrency continues to intensify, drawing attention to other emerging tokens…

Santa Monica, California, is making a significant push into the crypto industry with the launch of a dedicated Bitcoin office and plans for a Bitcoin festival by October. The City Council approved the Bitcoin Office on July 11, 2024, and its website went live on August 8, 2024. Santa Monica Positions Itself as Bitcoin Hub The Bitcoin Office aims to educate residents and businesses about the digital asset and explore its economic potential. To achieve this, the office plans to…

Bitcoin ETF (exchange-traded funds) options could be available as soon as the fourth quarter (Q4) of 2024, increasing the range of investment strategies for traders. This speculation comes after the successful launches of spot ETFs for Bitcoin (BTC) and Ethereum (ETH) in the US. Analyst Sets Clock for Bitcoin ETF Options Responding to a question on when options will be approved for spot Bitcoin ETFs, James Seyffart said Q4 this year. According to the ETF analyst, the final deadline for…

Grayscale Research suggests that the downside risk to crypto prices may be more limited than in the past, making an all-time high (ATH) for Bitcoin (BTC) this year a possibility. Cryptocurrency markets are showing signs of recovery, with global market capitalization up by 5%, indicating a growing bullish sentiment. Bitcoin 2024 ATH A Possibility Grayscale attributes the recent market crash to July’s weaker-than-expected US employment data but believes Bitcoin could retest its ATH. This, however, depends on the US economy…

Bitcoin’s value surged to a high of $62,745 late Thursday, bolstered by a significant influx into exchange-traded funds (ETFs). On Thursday alone, Bitcoin ETFs saw a record inflow of $194.6 million, the highest amount in the last two trading weeks. BlackRock’s iShares Bitcoin Trust (IBIT) led this surge, with an inflow of $157.6 million. Following closely, the WisdomTree Bitcoin Fund (BTCW) recorded $118.5 million. Retirement Planning Company of New England Invests in Bitcoin ETF Despite inflows into other ETFs, Grayscale’s…

The post BTC Price May Not Make It to $70,000: Bitcoin Death Cross May Trigger 10% Drop This Weekend appeared first on Coinpedia Fintech News Bitcoin price has been consolidating within a range for over 5 months and despite multiple attempts, it has failed to reach the crucial resistance at $70,000. The star crypto is consolidating within a pattern that does not flash positive signs. Besides, the price is testing the crucial support and another bearish push could drag the…

On-chain data shows that the Bitcoin short-term holder whales have a cost base above $64,000, which could be a potential resistance point for BTC. Bitcoin Is Not Far From Realized Price Of Short-Term Holder Whales After Rally As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC price had slipped below the Realized Price of the short-term holder whales earlier. The “Realized Price” here refers to an indicator that keeps track of the average cost basis that…

The long-standing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has finally made significant progress in court, and the case may be nearing its end, with a surge for XRP. As expected, this development revitalized interest in XRP, Ripple’s native cryptocurrency, which in turn led to a noticeable surge in XRP’s activity across the crypto industry.  On-chain data reveals a surge in the number of transactions and trading volumes for XRP on major cryptocurrency exchanges. One…