BTC

Bitcoin (BTC) has surged past $64,000, having been incredibly bullish as buyers return to the market. BTC’s recent surge indicates strong demand at lower levels, with the cryptocurrency recording weekly inflows of over $1.3 billion, according to data from CoinShares. BTC and other major altcoins could register significant upward movement should the bullish sentiment continue, potentially even reaching new all-time highs. Major Cryptocurrencies Record Significant Inflows Bitcoin (BTC) has rocketed over 12% during the past seven days as bulls returned…

Data shows the cryptocurrency derivatives market has registered significant liquidations after the Bitcoin rally above the $63,000 mark. Bitcoin Rally Has Resulted In Short Liquidations On Derivatives Market According to data from CoinGlass, the latest volatility in the cryptocurrency market has led to large liquidations on the derivatives side. “Liquidation” here naturally refers to the process that any open contract undergoes where its platform forcibly closes it off after it has amassed losses of a certain degree. The table below…

The post BlackRock CEO Praises BTC As An Asset Class, Calls It A Legitimate Financial Instrument appeared first on Coinpedia Fintech News BlackRock CEO, Larry Fink has showered praises on Bitcoin as an asset class highlighting its positives. In a recent interview with CNBC, Larry Fink restated his belief in the crypto market leader. He stated that ‘it is a legitimate financial instrument, that allows you to have non-correlated type of returns, an instrument that you invest in when you’re…

Bitcoin (BTC) has reached the major resistance at $63,000, putting on $2,300 early on Monday. If the king of the cryptocurrencies can break through this resistance, the range high at $71,300 is the potential target. However, a short term pull back could be about to take place. Buyers have entered the cryptocurrency market again and Bitcoin has risen a grand total of $5,000 over the last three days. This makes a welcome change from previously, when Bitcoin lost $18,500 over…

Bitcoin (BTC) bounced off its support levels last week, which held firm, indicating strong demand at lower levels. It made a strong recovery over the weekend, breaking past $60,000 with a strong rally.  With demand skyrocketing at lower levels, it’s clear that institutional investors viewed the recent dip as a buying opportunity. According to data from the on-chain analytics platform CryptoQuant, institutional investors acquired 100,000 BTC during the week.  Positive Signs For The Crypto Markets  The cryptocurrency market had plenty…

The post Why Bitcoin (BTC) Price Surged Above $60K? appeared first on Coinpedia Fintech News The cryptocurrency market, led by Bitcoin (BTC), surged nearly 5 percent in the past 24 hours to hover around $2.4 trillion on Monday during the early Asian session. Bitcoin price closed in a bullish outlook last week after being trapped in bearish sentiment in the prior four weeks.  The flagship coin had added around 5 percent in the past 24 hours to trade at about…

Bitcoin went on a downward spiral in the first week of July to strike a bottom below $54,000 amidst an exacerbated selloff by some large holders. Various reports using on-chain data have blamed the selloffs on the German state of Saxony selling the bitcoins it seized earlier in the year. Despite this considerable selloff, Bitcoin has primarily held its ground, and bulls have been successful in preventing additional price drops. According to on-chain data, Bitcoin’s standoff can be attributed to…

The price of Bitcoin has continued a mild recovery in the last 24 hours following the recent price plunge in the first week of July. According to data from CoinMarketCap, BTC is up by 1.11% in the last day as the market bulls appear to gather momentum for a full-price rebound. Interestingly, the on-chain analysis platform, IntoTheBlock has provided some insights into the resilient behaviors of these Bitcoin optimists amidst the current market downtrend. Bitcoin Whales Acquire 71,000 BTC In…

Institutional Bitcoin investors have significantly increased their holdings amidst the recent price decline, acquiring over 100,000 BTC (approximately $5.7 billion) over the past week. Unlike earlier peaks driven by ETF inflows, this current surge in institutional holdings suggests a strategic accumulation phase rather than short-term fundraising, indicating a resilient demand from larger players amidst broader market uncertainty. As the bitcoin price flirts around the multi-month low levels, on-chain data shows that institutional players have been buying the dips. On-chain data…