Day: November 11, 2024

Bitcoin on track for $85K, breaks record $82.4K ‘uncharted territory’

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Bitcoin is trading in uncharted territory, potentially approaching the six-figure price tag for the first time in history. The Bitcoin (BTC) price broke above a new high of $82,410 at 10:19 am UTC on Nov. 11, Bitstamp data shows. BTC/USD, 1-month chart. Source: TradingView However, this may only be a pitstop for the Bitcoin price, which is expected to breach the $85,000 high within the next week, according to Ryan Lee, the chief analyst at Bitget Research. Lee told Cointelegraph: “This week, we expect the volatility of BTC and ETH…

Crypto inflows hit $1.98B amid post-election momentum

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Cryptocurrency investors maintained strong interest in digital investment products last week, driven by post-election market momentum. Crypto investment products saw $1.98 billion in inflows from Nov. 3–9, pushing global assets under management to a record high of $116 billion, CoinShares reported on Nov. 11. This marks the fifth consecutive week of inflows, totaling $7.7 billion — 24% of the $31.3 billion recorded in 2024 so far. Bitcoin ETF trading in the US leads the inflows In line with previous CoinShares reports, spot Bitcoin (BTC) exchange-traded funds (ETF) trading in the…

Mexico’s Third-Largest Billionaire Raves About Bitcoin Price Hike: ‘Told You So’

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Mexico’s third-largest billionaire is celebrating the momentum that bitcoin and the entire cryptocurrency market are experiencing following President-Elect Donald Trump’s victory in the recent elections. Ricardo Salinas Pliego, owner of companies such as Grupo Elektra, Banco Azteca, and TV Azteca, took to social media to celebrate the bitcoin price hike, offering further advice to his […] Original

Bitcoin could be one upgrade away from overtaking Ethereum DeFi

A single, long-dormant string of code, hidden deep within the original Bitcoin stack, can introduce a suite of new functionality that could potentially see the Bitcoin network rival Ethereum in terms of decentralized finance (DeFi) activity.  The upgrade is called “OP_CAT” (short for operation code concatenate) and refers to a few simple lines of code originally introduced by Satoshi Nakamoto. This code was part of Bitcoin’s initial scripting system and effectively increased Bitcoin’s transaction utility and expanded the variety of operations users could perform with Bitcoin.  However, Nakamoto was initially…

Bitcoin DeFi is perfect for crypto adoption

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. With Bitcoin (BTC) recently smashing through its long-held $70,000 ceiling after four and a half months, it is fast becoming evident that the digital asset market is in the wake of another major transformation (as well as another bull run). Amid these developments, Bitcoin DeFi—also known as BTCFi—has emerged as a technological frontier connecting traditional finance entities with the crypto ecosystem, paving the way for mainstream adoption. …

Where the Demand Comes From as the Bitcoin (BTC) Price Breaks Tops $82K: Van Straten

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Zooming out over the past three years, it’s apparent that when Coinbase CVD spikes, it tends to be near local highs and lows. In March, one of the highest CVD levels occurred as bitcoin broke its then-record high above $73,000. There were also high levels near cycle lows around the Luna and FTX collapse in 2022, which shows smart money buying near the bottom and others buying near the top. Original