Month: January 2024

Bitcoin tumbled after ETFs launched. What it means for crypto miners

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Investors in bitcoin mining stocks are closely watching the price of the cryptocurrency after the Securities and Exchange Commission’s move to allow spot bitcoin ETFs became a sell-the-news event. After the ETFs received regulatory approval last week, the flagship currency briefly touched $49,000. As the week went on, however, bitcoin wiped out its earlier gains and notched a modest weekly loss of 0.01%. Crypto mining companies are now feeling the squeeze in this latest bitcoin sell-off – and that’s evident in the big week-to-date declines for Marathon Digital and Riot…

Spot Bitcoin ETFs Record Over $800 Million In Net Inflows in Debut Week

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On Wednesday, January 10, the US Securities and Exchange Commission (SEC) finally approved the launch of spot Bitcoin ETFs, representing a remarkable event in US trading history.  So far, market data on these investment funds have confirmed theories of increased institutional demand for Bitcoin, with over $800 million in total net inflows and $3.6 billion in trading volume recorded across the first two days of trading.  Although these inflows are yet to be reflected in BTC’s price, as the premier cryptocurrency dipped by 2% in the last week, the spot Bitcoin…

Bitcoin Hashrate Hits New All-Time Amid Spot ETF Frenzy

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Bitcoin’s hash rate, that is the network’s computing power, recently reached a new all-time high amidst the frenzy that came with the debut of spot Bitcoin ETFs in the US. According to data from IntoTheBlock, the Bitcoin hashrate reached an all-time high of 630.91 million TH/s or 630 EH/s on January 11, less than 24 hours after the U.S. Securities and Exchange Commission approved 11 Spot Bitcoin ETFs in the country. Bitcoin’s hash rate hit a new all-time high yesterday🔗https://t.co/bkdHCcEXFk pic.twitter.com/Mn3GxyDp6d — IntoTheBlock (@intotheblock) January 12, 2024 Bitcoin Hashrate Reaches…

Bitcoin To $34,000? Analyst Predicts Next Move For BTC With This Chart Pattern

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Bitcoin had a surprisingly underwhelming price performance over the past week despite the United States Securities and Exchange Commission (SEC) approving the trading of spot BTC ETFs. The price of the flagship cryptocurrency almost broke into $49,000 at the peak of this positive news but has since retraced back below $43,000. Ali Martinez, a popular crypto analyst on the X platform, has offered insight into the current market climate of Bitcoin, highlighting that the cryptocurrency’s price may face further downward pressure over the coming weeks. Analyst Forecasts 20% Price Drop…

Bitcoin takes center stage as ETF approved; AI altcoin targets in $3m presale

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The launch of Bitcoin exchange-traded funds (ETFs) is generating excitement in the crypto market. Bitcoin (BTC) is poised to capitalize on this momentum by reaching a psychological price target of $50,000. Meanwhile, Borroe Finance (ROE) is gaining prominence as an AI-powered crypto project, with its presale fundraising nearing $3 million. Borroe Finance’s authenticity is highly verified With scams prevalent in crypto, Borroe Finance is emerging as a reliable defi project whose…

Buy Low, Sell High? Bitcoin Wobbles As ETF Fever Cool Downs

In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000. Many analysts predicted a “sell-the-news” scenario, where investors cashed in on profits built upon anticipation of the ETF approval. Others suggest a rotation into Ethereum, which surged 15% on the week and touched highs not seen since May 2022. Ethereum ETF Speculation: Shaping Crypto…

Decentralized Exchange Altcoin Flashing Signs of Upcoming Rally, Says Crypto Trader – Here’s His Forecast

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A closely followed crypto strategist believes that a decentralized exchange (DEX) altcoin is flashing signs that it could be about to take off on a bullish rally. The trader Ali Martinez tells his 40,400 followers on the social media platform X that GMX looks primed to break out from an inverse head-and-shoulders pattern, a technical analysis chart formation that could signal a trend reversal. “If we see a consistent three-day candlestick close above $59, this could be the trigger for a bullish rally that propels GMX toward an ambitious target…

Analyst Sees Bull Flag That Will Trigger Rally Above $150

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Solana (SOL) could well be on course to continue its remarkable run from 2023, going by a recent analysis by crypto analyst Ali Martinez. The analyst laid out a certain condition that could see SOL rise to as high as $150 soon enough.  How Solana Could Rise To $150 Martinez noted in an X (formerly Twitter) post that Solana was breaking out from a bull flag that had developed on the 4-hour chart that he shared. According to him, the crypto token could rally towards the $150 to $165 price…

The Bitcoin Price Could Drop To $37,000 Before The Halving

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The price of Bitcoin has been on a massive bullish momentum since the approval and launch of Spot Bitcoin ETFs. However, a crypto analyst, Jason Pizzino, predicts a temporary halt in the growing trajectory, citing Bitcoin’s proximity to a crucial resistance point that could result in a significant price drop.  Analyst Foresees Bitcoin Price Correction In a recent YouTube video published on Friday, January 12, Pizzino shared his insights into the current market conditions of Bitcoin, the world’s largest cryptocurrency. According to the analyst, the price of the top crypto…

Gensler speculates on Ethereum post Bitcoin ETF approval

On the heels of the approval of spot Bitcoin ETFs, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is exercising caution on Ethereum. In an interview with CNBC, Gensler addressed the possibility of a spot Ethereum ETF gaining SEC approval in the future. While acknowledging the approval of Bitcoin ETFs, he emphasized that this was specific to Bitcoin as a non-security commodity token. He carefully refrained from providing further insights on an Ethereum ETF but hinted at a distinction between Bitcoin’s commodity status and the potential classification of other…