Bitcoin’s value reached a new peak for 2024 on Monday at 11:13 a.m. Eastern Time (ET), eclipsing the $66,000 threshold. Over the past year, bitcoin’s value has swelled by 196% and has risen by 157% over the last six months when measured against the U.S. dollar. At the time of writing, the leading crypto asset […] Original
Bitcoin saw an incredible month in February, adding over $18,000 to its value in a single month. This outperformance has now carried on into the month of March, which has seen the Bitcoin price cross the $65,000 mark for the first time since 2021. As BTC trades in the green, expectations remain that the performance will continue. Bitcoin Shows Strong Fundamentals In a new report shared with NewsBTC via email, the head of research at Matrixport, Markus Thielen, put forward that the Bitcoin price was headed for another all-time high…
Jaap Arriens | NurPhoto | Getty Images The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. The flagship cryptocurrency was last higher by 3.7% at $65,127.00, according to Coin Metrics. Earlier, it rose to as much as $65,606.17, its highest level since November 2021. Ether advanced 1% to $3,508.24. Both coins are coming off their best week in almost a year (bitcoin gained about 21% and ether 16%) but paused their run over the…
Bitcoin price is trading above $60,000, putting it within striking distance of setting a new all-time high. This would be an unprecedented move for the top Cryptocurrency by market cap, which historically has only made a new price record only after each halving event. Could BTC set a new record in more ways than one: by reaching a new all-time high before the halving for the first time ever? Let’s take a look at the data. Why the Bitcoin halving is important The Bitcoin halving is one of the most…
“Over-the-counter (OTC) trading desks are dealing with large institutional clients, and according to their aggregate inventory data, balances have decreased from nearly 10,000 Bitcoins in Q2 2023 to less than 2,000. This shows that institutions such as the Bitcoin ETF issuers, through their market makers, will have to purchase Bitcoins directly from exchanges. The supply/demand imbalance is 1:10 (daily mined vs. daily ETF demand),” Thielen noted. Source
Exchange-traded funds (ETFs) have emerged as a significant topic, particularly concerning their potential to fuel the Bitcoin (BTC) price to surpass its previous all-time high (ATH) of nearly $70,000. Furthermore, BTC proponents are optimistic that the upcoming halving event scheduled for April 2024 will provide a further boost to the world’s flagship cryptocurrency. Bitcoin’s bullish momentum Bitcoin (BTC) hit its highest price since 2021 and neared its record peak of $69,000 achieved in November 2021, before undergoing a significant correction. The price remains comfortably above the $62,000 price region at…
After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $11.48 for each transaction. Currently, a backlog of 207 mempool blocks is pending, waiting to process about 134,000 unconfirmed transactions, a situation that has […] Original
Galaxy Digital CEO Michael Novogratz says he wouldn’t be surprised to see some corrections and consolidation in the crypto market before taking off to the new high. In a recent interview with Bloomberg, Galaxy Digital CEO Michael Novogratz highlighted the need for vigilance when dealing with Bitcoin (BTC) at present, indicating a possibility of short-term shifts in its trajectory. Expressing his concerns on the matter, Novogratz said he “wouldn’t be surprised to see some corrections and some consolidation.” “If it [Bitcoin] corrects, it might correct to the mid-$50,000s, before taking…
Cardano (ADA), the ninth-largest cryptocurrency in the market, has experienced a significant price breakout, reaching $0.710 on Thursday for the first time since May 2022. This marks a pivotal moment for ADA as it emerges from a prolonged consolidation phase encompassing the latter part of 2023 and the initial month of 2024. With the price surge, ADA now sets its sights on the $1 mark, which it last achieved in April 2022. ADA Primed For New All-Time Highs? The recent price breakout has sparked predictions of an imminent continuation of…
Amid Bitcoin’s (BTC) rally, experts at QCP Capital wondered whether BTC could hit all-time highs sooner than the end of March. At the time of writing, BTC is trading at $58,300, up 4% in 24 hours and 13% in the last seven days, according to CoinMarketCap data. Following the rapid growth of the first cryptocurrency, analysts at QCP Capital wondered whether BTC would reach all-time high earlier than the end of March 2024. Source: CoinMarketCap In their latest analysis, experts presented bullish and bearish scenarios for Bitcoin. The first is…