Tag: Bitcoins

Bitcoin’s new high signals major market shift: analysis and predictions

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Explore the dynamics behind Bitcoin’s bullish run and the growing anticipation around a U.S.-based Bitcoin ETF. A deep dive into market trends and predictions. Over the past few days, Bitcoin (BTC) has demonstrated significant resilience and growth, marking a noteworthy trend in the cryptocurrency market. Amid a surge in trading volume, BTC price reached its fresh 52-week high of $37,926 on Nov.9. However, amid the volatility, the price retraced and trading at $37,100 as of Nov. 10. BTC price chart | Source: CoinMarketCap This recent rise is partly attributed to…

MicroStrategy (MSTR) Shares Soar 246%, Michael Saylor Credits Bitcoin’s Rise

Saylor sees Bitcoin’s potential to soar even higher, especially once regulators approve financial firms’ Bitcoin spot ETF products. MicroStrategy Inc (NASDAQ: MSTR), the software firm led by Executive Chairman Michael Saylor, has seen its shares surge by an astounding 246% in 2023. Saylor attributes this success to Bitcoin (BTC), which has not only fueled MicroStrategy’s growth but also positioned the company to compete with tech giants like Apple Inc (NASDAQ: AAPL), Microsoft Corp (NASDAQ: MSFT), and others collectively known as the ‘Magnificent Seven’ tech stocks. MicroStrategy Inc’s Shares and Bitcoin’s Rally…

Bitcoin’s surge to new annual high cost traders $440m

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The total amount of liquidations on the crypto market over the past 24 hours approached $440 million. Most of the forced closed positions were in BTC and ETH. The rise in BTC price towards $38,000 cost short sellers $78 million. Market participants who opened short positions in Ethereum (ETH) also suffered significant losses due to the jump in the price of the second largest cryptocurrency by capitalization to the $2,000 mark, losing $52.7 million. Crypto market liquidations | Source: CoinGlass In the past 24 hours, 148,093 traders were liquidated, the…

Cardano TVL outpaces Bitcoin’s, new token surging as Tether injects 1B USDT into Tron

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According to recent news, Cardano’s total value locked (TVL) surged, surpassing Bitcoin’s. Also, Tether has increased its USDT reserve on Tron with an additional 1 billion USDT. Meanwhile, a new project, Everlodge, continues to gain traction. Cardano TVL overtakes Bitcoin In Q3 2023, the Cardano ecosystem experienced rapid expansion, attributed to heightened developer activity and a positive market sentiment.  Cardano’s Total Value Locked (TVL) surged to $240 million, securing its position as the 11th most active blockchain. This spike also saw the project’s TVL rise to an all-time high.  The…

Bitcoin’s soar past $36k triggers $186m in liquidations

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On Nov. 9, Bitcoin passed the $36,000 mark. The volume of liquidations on futures in the crypto-asset market increased to around $186.6 million. In the last 24 hours, 57,903 traders’ positions were liquidated, totaling more than $186.6 million, according to CoinGlass. About $154.44 million of losses came from short positions. Bitcoin liquidations | Source: CoinGlass The largest liquidations were recorded on the OKX and Binance crypto exchanges – $67.89 million and $58.73 million, respectively. This is followed by Bitmex – $22.22 million, Bybit – $17.8 million, and Huobi – $16.46 million.…

Bitcoin’s whale-sized moves hint at $37k ascent

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Bitcoin (BTC) is observing noticeable spikes in whale transactions worth at least $100,000. Its supply on exchanges witnesses a gradual uptick amid the fight to reclaim $37,000. These spikes in large transactions started earlier this month, data from Santiment confirms. Notably, whale transactions rapidly increased from Nov. 5, eventually crossing the 5,000 mark three days later. As of Nov. 8, Bitcoin recorded up to 7,992 transactions worth $100,000 and above. BTC price, whale activity and supply on exchanges – Nov. 9 | Source: Santiment This value represents the highest figure…

Data highlights Bitcoin’s potential path to $40K amid global economic turbulence

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Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark.  Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States. Investors worry about the bearish global economic outlook Bears expect further macroeconomic data supporting a global economic contraction as the U.S. Federal Reserve holds its interest rate above 5.25% in…

Bitcoin’s Bullish Case Gets Stronger After NFP Data, Crypto Derivatives Expert Says

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Supporting the case for continued upside in bitcoin is the dwindling volatility in the U.S. stock and bond markets. The S&P 500 VIX indicator has tanked from 21.13 to 14.19 in the past five trading days, while the MOVE index, an options-based measure of volatility in the Treasury bond market, has dropped from 132 to 118, according to charting platform TradingView. Perhaps tensions in the Middle East are no longer the focal point for the market. Original

Bitcoin’s pullback — warning sign or blip on the radar?

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A broad selloff has hit cryptocurrency markets over the past 24 hours, with the overall market capitalization falling nearly 3% to $1.27 trillion. The pullback comes after digital asset prices rallied strongly through October, with greed sentiment recently hitting two-year highs according to the Crypto Fear and Greed index. According to Alex Kuptsikevich, senior market analyst at FxPro, the current dynamics fit the narrative of Bitcoin (BTC) as a safe haven asset, with rising demand for equities playing against the largest cryptocurrency. However, Kuptsikevich cautions against relying too heavily on…

With Bitcoin’s halving months away, it may be time to go risk-on

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More tradition than coincidence, the Christmas season is around the corner again and the market is looking good for yet another run. Bitcoin (BTC) surged to more than $35,000 in October, another record high for 2023. The year-long rally has been attributed to unconventional market trends, including excitement over the Bitcoin spot ETF applications pending with the Securities and Exchange Commission. If, like me, you’ve been in the crypto space since 2014, you’d agree that the holiday season comes with a euphoric feeling — especially this year. Everyone seems to…