On Wednesday, bitcoin’s value ascended past the $60K threshold, peaking at a 24-hour high of $61,389 by 10:45 a.m. (ET). Concurrently, South Korea observed a pronounced premium over the international exchange rate, with local platforms such as Upbit and Bithumb displaying prices that are $2,251 higher. In a Worldwide Bitcoin Frenzy, South Korea and 30+ […] Original
The Bitcoin price has now successfully crossed the $59,000 level after an incredibly bullish month of February. The market leader has also barreled ahead of all expectations during this time as well, continuing to rally at a time when prices are expected to crash ahead of the next halving. Institutional Investors Drive Bitcoin Price Higher One of the major drivers behind the Bitcoin performance over the last day has been institutional investors. These investors have continued to take advantage of the opportunities provided by the Bitcoin Spot ETFs approved by…
Coinbase (COIN), the only U.S. traded crypto exchange, added 3.9% after touching a 52-week high of $209.94 on Tuesday. MicroStrategy (MSTR), the largest corporate holder of bitcoin, rose 7.5%. The software developer said Monday it bought another 3,000 BTC, taking its total stash to 193,000. BlackRock’s bitcoin exchange-traded fund (IBIT), added around 3.9%, the most among the spot bitcoin ETFs approved last month. Source
While the consensus is that that event, coupled with the strong inflows into the U.S.-based exchange-traded funds (ETFs), implies a supply-demand imbalance and potential for a continued move higher, some traders have started to position for a sharp decline. They have begun snapping up bitcoin puts, or options to sell, at strike prices well below the going market rate because perpetual funding rates point to a market that’s overheated and may witness a correction, a drop of more than 10%. Source
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Meme coin season has arrived as countless projects experience astronomical gains. The Solana ecosystem has experienced notable success, with Myro and Bonk up over 20% today. Meanwhile, the new cross-chain meme coin Frog Wif Hat is taking the market by storm, soaring over 130% and attracting over 1K buyers in its first 12 hours. Solana meme coins surge as SOL pumps 8% The past 24 hours have been exceptionally…
Bitcoin price rallied further toward $58,000. BTC is now consolidating gains and might soon attempt more gains toward the $60,000 resistance. Bitcoin price is consolidating gains below the $57,500 resistance zone. The price is trading above $56,000 and the 100 hourly Simple moving average. There is a rising channel forming with resistance near $57,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its current rally toward the $60,000 resistance zone. Bitcoin Price Faces Fresh Hurdle Bitcoin price extended its rally above the…
Like Bitcoin, Ethereum has also picked up steam, with the second-largest crypto token crossing the $3,000 resistance level for the first time since 2021. Interestingly, this crypto analyst believes the rally is far from over, as he highlighted a key price level that ETH could hit soon enough. Ethereum Could Rise To As High As $4,000 Crypto analyst Altcoin Sherpa suggested in an X (formerly Twitter) post that Ethereum could rise to as high as $4,000. His prediction looks feasible when one considers crypto analyst Bitcoin Ape’s recent analysis of…
On Feb. 26, MATIC’s price crossed $1.05 for the first time in 2024; the steady rise in Polygon network activity in correlation to the defi market boom suggests more bullish action could follow. Layer-2 networks like Polygon (MATIC) and Optimism (OP) have been on a tear in recent weeks as investors pile billions of dollars into Ethereum (ETH) leading defi protocols. Defi market boom driving MATIC price rally Amid widespread expectations of Fed rate cuts, investors are increasingly switching focus towards risk assets. As the S&P 500 soared to historic…
Theta Network (THETA), a platform for decentralized video delivery and edge computing, has seen its price skyrocket by 60% in the past 24 hours. This surge has propelled THETA to become the top gainer across the entire spectrum of the top 100 cryptocurrencies. The rally can be attributed to a confluence of factors, notably the anticipation surrounding the upcoming launch of Theta EdgeCloud in the next quarter, a broader crypto market uplift led by Bitcoin and a bullish chart setup for THETA. EdgeCloud Launch Sparks Growth Catalyst At the heart…
Bitcoin (BTC), the leading cryptocurrency, has experienced a surge of over 3.6% in the past 24 hours and an impressive 27% in the last month. These gains have propelled the Bitcoin price to reach a new 26-month high of $53,360 on Monday, signaling investors renewed optimism. BTC Whales Make Waves Adding to the bullish sentiment surrounding Bitcoin, crypto analyst Ali Martinez highlights the significant activity of the BTC whales, stating that “whales are going parabolic.” Notably, In the past month alone, more than 150 new BTC addresses have appeared, each…