Ether itself has remained in the same trading range since early August, with the current level of $2,700 providing two firm rejections on Sep. 27 and Oct. 21. During that period bitcoin surged from below $60,000, yesterday testing its record high from March of just shy of $73,800. Ether remains about $2,000 below its record high set all the way back in November 2021. Source
The total OTC desk balance, however, has held pretty steady since the beginning of September. The 30-day change is just 3,000 BTC, down from a June high of 92,000 BTC. During the first quarter, the pent-up demand led to a negative 30-day change in OTC desk balances, which helped propel the asset to its record high. Original
As more holders move into profit and look to lock in gains, their market activity may slow the climb toward the record, CoinDesk research noted earlier this month. Since Oct. 17, when the research was published, profit-taking has not abated, but it still seems as though a new all-time high is on the cards. Source
“$IBIT traded $3.3b today, biggest number in 6mo, which is a bit odd bc btc was up 4% (typically ETF volume spikes in a downturn/crisis),” Balchunas said on X. “Occasionally tho volume can spike if there a FOMO-ing frenzy (a la $ARKK in 2020). Given the surge in price past few days, my guess is this is latter, which means look for (more) big inflows this week.” Source
The recent activity in Bitcoin price and demand metrics suggests a potential resurgence in market interest, which could lead to a renewed all-time high. So far, Bitcoin has recently achieved a significant price rebound, reclaiming a trading level above $70,000 after a sustained period of resistance just below this price mark. This uptrend follows a 5% increase over the past 24 hours, positioning Bitcoin for $71,933 at the time of writing. One factor influencing this rally is a heightened demand reflected in stablecoin movements, a metric often used to gauge…
Este artículo también está disponible en español. As Bitcoin (BTC), the largest cryptocurrency by market capitalization, inches closer to its all-time high of $73,700 reached in March, the US spot Bitcoin ETF market has re-emerged as a key driver of the cryptocurrency’s recent price surge. On Tuesday, total trading volume for spot Bitcoin ETFs surpassed $3 billion, coinciding with Bitcoin’s price briefly above the pivotal $73,000 mark for the first time in over 7 months. Bitcoin ETF Market Set To Surpass 1 Million BTC Holdings Soon Notably, crypto investor BigRig…
Bitcoin has been in a consolidation phase for multiple grueling months since its March 14 peak , dropping to as low as just under $50,000 at one point over the summer, but mainly sitting in roughly the $60,000-$65,000 range. The action tested investors’ patience and left many concerned that the bull market cycle begun in early 2023 had already topped out. Multiple attempts for new highs were met with heavy selling from bitcoin miners and long-term investors, while breakdowns were quickly arrested and bought up. Original
Monday’s spot crypto exchange-traded fund (ETF) data shows bitcoin (BTC) ETFs reeling in positive inflows of $479.35 million, while ether (ETH) ETFs experienced a slight decline. Bitcoin ETFs Absorb $479M Bitcoin exchange-traded funds (ETFs) have been on a winning streak lately, scooping up significant inflows. On Monday alone, the 12 bitcoin-focused funds saw a collective […] Original
Perhaps having discounted some of the bitcoin rally with strong gains over recent days, crypto stocks for the most part aren’t posting major advances thus far on Tuesday. Most notably, MicroStrategy (MSTR) – which has vastly outperformed bitcoin prices in recent months – is up just 0.9% for the session. Crypto exchange Coinbase (COIN) is up 1.2%. Checking miners, MARA Holdings (MARA) is ahead 1.4%, Riot Platforms (RIOT) 3% and Hut 8 (HUT) 3%. Source
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