Category: Analysis

ETFs holding bitcoin are now the crypto’s largest holders, surpassing creator Satoshi Nakamoto

boss

Bitcoin exchange traded funds are now the largest holders of the flagship cryptocurrency. The 12 spot bitcoin ETFs in existence have collectively passed $100 billion in assets under management, one of the most successful ETF launches in history. The funds now own slightly more than 1.1 million bitcoin , equivalent to about 5% of all the bitcoin in existence. BTC.CM= YTD mountain Bitcoin in 2024 Collectively, bitcoin ETFs now own more of the cryptocurrency than legendary pseudonymous founder Satoshi Nakamoto, who is believed to control as much as 1.1 million…

XRP Price Eases Gains: Eyes on The Critical $2 Threshold

XRP price failed to extend gains above the $2.40 zone. The price is down over 10% and might even decline toward the $2.00 support zone. XRP price started a downside correction from the $2.50 resistance zone. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2.26 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.32 resistance. XRP Price Dips Again XRP…

A hedge for bitcoin if it pulls back after hitting the $100,000 milestone

boss

Bitcoin has been surging all year in 2024 but this week investors have seen “digital gold” vault above the monumental level of $100,000 . President-elect Donald Trump has presented crypto-friendly expectations, and he also has revealed political changes at the SEC that further fueled the rally, pushing the digital coin to up 140% in 2024. I want to book profits and hedge out potential downside risk if investors take a bitcoin breather over the holidays. The first bitcoin ETF launched in early January of this year, the iShares Bitcoin Trust…

Ethereum Price Gears Up for $4,000: Higher Highs In Sight?

Este artículo también está disponible en español. Ethereum price is rising from the $3,650 zone. ETH is gaining pace and might soon aim for a move above the $3,950 resistance zone. Ethereum remained in a positive zone and stayed above the $3,680 zone. The price is trading above $3,770 and the 100-hourly Simple Moving Average. There was a break above a short-term bearish trend line with resistance at $3,870 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,890…

Bitcoin hit $100,000. Here’s what it means if it’s in your portfolio

boss

Bitcoin finally reached $100,000 and investors holding the cryptocurrency in their portfolios have a few moves they’ll need to make before they celebrate. The flagship crypto crossed the $100,000 threshold for the first time late Wednesday, a fresh milestone in its 2024 hot streak. This year alone, bitcoin has more than doubled in value. BTC.CM= YTD mountain Bitcoin’s performance in 2024 “It is a big moment for a lot of people,” said Tyrone Ross, CEO of Turnqey Labs, a platform that provides data aggregation for reporting on crypto assets. “There…

What’s next for bitcoin after topping $100,000, according to the charts

boss

Bitcoin has finally reached the “the big round number.” After consolidating just below this level in recent weeks, bitcoin has now broken out to another new all-time high above $100,000, leaving investors to consider exactly how much upside we should expect. First, we’ll look at how we got to this point from a technical perspective. Then, we’ll break down two different approaches to identifying the next potential top for the flagship cryptocurrency. Over the past two years, we’ve noted a number of times where bitcoin has experienced such a strong…

These are the stocks with the highest correlation to bitcoin as the digital currency tops $100,000

boss

With bitcoin notching fresh highs, some closely correlated stocks look poised to gain — or suffer — depending on where the digital currency goes from here. Bitcoin crossed above the $100,000 mark for the first time late Wednesday, building on the rally that kicked off in the wake of President-elect Donald’s Trumps victory, which boosted hopes for more favorable cryptocurrency policy. The cryptocurrency was last up about 2% at $101,201. BTC.CM= 1D mountain Bitcoin tops $100,000 mark Trump on Wednesday also announced plans to nominate Paul Atkins to succeed Gary…

The road to $100,000 — What’s behind bitcoin’s storied 2024 run

boss

A novelty Bitcoin token arranged in front of the price of the cryptocurrency against the US dollar, reaching over $100,000, in Hong Kong, China, on Thursday, Dec. 5, 2024.  Paul Yeung | Bloomberg | Getty Images Bitcoin‘s long-awaited push above $100,000 comes during the culmination of a year in which the leading cryptocurrency was embraced by key Wall Street institutions and became a hot topic in the U.S. presidential election. For years, bitcoin bulls predicted a rally to $100,000 as a way to show their optimism about crypto. But many…

What Fed’s Powell said about crypto that may have aided bitcoin rally to $100,000

boss

Jerome Powell, chairman of the US Federal Reserve, during the New York Times DealBook Summit at Jazz at Lincoln Center in New York, US, on Wednesday, Dec. 4, 2024.  Yuki Iwamura | Bloomberg | Getty Images Bitcoin’s meteoric run may have gotten a little extra push from an unlikely source: Federal Reserve Chair Jerome Powell. In comments Wednesday about the cryptocurrency, the central bank leader noted that he does not and cannot own any himself. In addition, he said the Fed’s role in regulating bitcoin and its competitors is limited.…

Bitcoin to replace gold over next decade, says Bernstein

boss

Bernstein thinks bitcoin could eventually replace the role of gold. “We expect Bitcoin to emerge as the new-age premier ‘store of value’ asset eventually replacing Gold over the next decade, and becoming a permanent part of institutional multi-asset allocation and a standard for corporate treasury management,” analyst Gautam Chhugani wrote in a note Thursday. The comments come after bitcoin hit $100,000 for the first time, adding to its monster 2024 gains. Year to date, the digital currency is up 141%. A chunk of those gains have come since the Nov.…