Category: Bitcoin News

Bitcoin mining protocol Prosper bags token funding from BIT Mining

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Decentralized protocol Prosper secures investment from BIT Mining as it expands its solution to include institutional-grade Bitcoin mining and liquidity farming. Prosper, a decentralized protocol bridging Bitcoin (BTC) mining to the blockchain by providing hashrate-backed tokens representing live Bitcoin mining power, has announced that BIT Mining has made a strategic investment in its native token, PROS. In a blog announcement on Nov. 14, Prosper said the investment represents “another significant validation” of its thesis by institutional backers. “This investment reinforces the credibility and viability of Prosper’s new strategic vision,” the…

Bitcoin open interest hits an ATH of $55.7b: here’s what to expect

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Bitcoin’s open interest in futures markets recently reached an all-time high amid the latest market upsurge that has seen the asset claim new price peaks. The Bitcoin (BTC) OI has spiked to $55.7 billion, indicating a massive increase in trading activity and investor interest, according to the data aggregator Coinglass. This latest surge follows a previous slump to $26.65 billion on Aug. 6. BTC open interest | Source: Coinglass CME accounts for most of this figure, holding about 32.3% of the total Bitcoin futures OI with 197,620 BTC, valued at…

Bitcoin ETFs see record trading volume amid BTC all-time high

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Spot Bitcoin exchange-traded funds in the United States continued their positive inflow streak for the sixth consecutive day, recording net inflows of $510.11 million on Nov. 13 as Bitcoin surpassed $93,000 for the first time. According to data from SoSoValue, the 12 spot Bitcoin ETFs logged net inflows of $4.73 billion over the six straight days of trading ending on Nov. 13. BlackRock’s IBIT led the group for the fifth consecutive day on Thursday with inflows of $230.81 million. Notably, IBIT has seen over $29.15 billion in net inflows since…

Bitcoin surpassed $93k after CPI report; here are 2 more macro events to watch

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Bitcoin made an impressive run after the U.S. Consumer Price Index report came as expected. But two more key events could add to the positive sentiment this week. Bitcoin (BTC) reached a new all-time high of over $93,400 hours after the U.S. CPI report was released on Wednesday. The inflation rate in the largest economy in the world increased by 0.2% year-over-year in October and reached 2.6% as expected. 🚨 BREAKING 🚨 US CPI DATA CAME IN AT 2.6% EXPECTATIONS: 2.6% — Ash Crypto (@Ashcryptoreal) November 13, 2024 The global…

Peter Brandt Spots Dogecoin-Bitcoin Chart Similarities: Is a Big DOGE Move Brewing?

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Veteran trader Peter Brandt sees dogecoin mirroring bitcoin’s 2016 price pattern, signaling a potential rally as technical indicators align and Elon Musk’s influence boosts investor sentiment. Peter Brandt Identifies Dogecoin’s 2016 Bitcoin-Like Pattern, Expects Rally Veteran trader and chartist Peter Brandt took to social media platform X on Wednesday to highlight a potential parallel between […] Original

Bitcoin Boom: Expert Eyes $500K BTC, Declares $1M ‘Absolutely’ Within Reach

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Bitwise’s Matt Hougan predicts $500,000 as bitcoin’s maturity threshold, with $1 million “absolutely” possible as BTC rises to compete with gold. Bitwise’s $500K Target for Bitcoin — Why $1M ‘Absolutely’ Could Follow Matt Hougan, chief investment officer at Bitwise Asset Management, shared his perspective on bitcoin‘s trajectory in a blog post on Tuesday, arguing that […] Original

Reinvent Ethererum, and Just Don’t Break Bitcoin

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Loyal readers of The Protocol will recall that we launched this newsletter on April 26, 2023, to cover technological developments across the blockchain industry, after winding down its predecessor, Valid Points, which was focused exclusively on Ethereum. (In case you’re interested in that history, we wrote here about how we turned $15,000 into $70,000 running an Ethereum validator.) We started covering Bitcoin technology in the newsletter along with Solana and Cosmos and Sui and everything else. Over time, the format evolved, and got a bit longer — as I increasingly…

These stocks have the highest positive correlation with bitcoin

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As bitcoin shoots to new heights, some stocks that trade closely with the digital currency could also see their fortunes rise. Bitcoin has gained more than 32% since President-elect Donald Trump secured a second term last week. Trump indicated his support for cryptocurrencies during his campaign, which could lead to more favorable regulations for the industry. On Wednesday, bitcoin rose above the $93,000 mark for the first time and was last trading more than 3% higher. Against that backdrop, CNBC Pro screened for stocks that have the highest positive correlation…