When Bitcoin is dominated by major institutions (and Bitcoiners are asking for approval from presidential candidates) we are in danger of creating centralized decentralized finance, something Bitcoin's founders never intended, says Jason Dehni, CEO of Credbull.
From Jan. 11 to Sept. 26, 2024, Blackrock, the world's largest asset manager, collected an astonishing 363,626.36 bitcoin, valued at just over $24 billion as of Sept. 27. This accumulation puts Blackrock's exchange-traded fund (ETF), IBIT, on the cusp of controlling nearly 2% of bitcoin's total supply.
Following the Solana 1,000% run-up in 2023 and its re-entry into the crypto top 10 by market cap, it has been pitched against Ethereum once again. This was further propelled by the fact that Solana saw its blockchain activity surpass Ethereum's, and even bringing in more revenue at a time.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
Amid bullish expectation, how far can the BTC rally go?
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In a splendid move, the Bitcoin price soared above $64,000, suggesting the bullish action may have begun. While the other altcoins have already broken their respective resistances, including Cardano (ADA), the XRP price is failing to surpass the levels at $0.6.
Bitcoin (BTC) has been in a consolidation phase for the past two months, fluctuating between $50,000 and $64,700. While the price has struggled to regain its previous highs, a noteworthy trend is emerging among long-term Bitcoin holders (LTH): they are choosing to hold onto their coins.
Bitcoin (BTC) surged past $66,000 on Sept. 27 as New York opened for trading, reaching a two-month high to record its best September performance on record.
Amid the ongoing significant price surge across the crypto landscape, whales and institutions have now shifted their focus on Neiro Ethereum (NEIRO) and are on a buying spree. On September 27, 2024, the on-chain analytic firm Spotonchain made a post on X (previously Twitter) that NEIRO seems to be in an accumulation phase.
According to CryptoQuant Burak Kesmeci, Bitcoin, the leading cryptocurrency, Bitcoin's Market Value to Realised Value (MVRV) has recorded a major bullish signal.
On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) saw gains, while their ether-focused counterparts faced a decline during the day's trading session. ARKB Tops Bitcoin ETF Gains as Ether Funds Fall by $675K U.S. bitcoin ETFs saw a hefty $365.57 million in positive inflows on Thursday, with Ark Invest and 21shares' ARKB leading the charge.
Seven days after hitting the market, the T-REX 2X Long MSTR Daily Target ETF (MSTU) has become one of the most successful new exchange-traded funds (ETFs) on the market after attracting over $72 million.
Bitcoin is now trading above the $65,000 price level for the first time in two months, leaving the $63,000 resistance level behind. This interesting increase has seen Bitcoin increase by almost 23% from a September low of $53,400 on September 6, pushing many holders into profitability.
What led to Swan Bitcoin's lawsuit against its former employees?
Bitcoin (BTC) is still in an over six-month downtrend, displaying a shorter-term side action in what the market calls consolidation. Bulls and bears are fiercely disputing the narrative, while the price illustrates analysts' disagreement on the leading cryptocurrency's next move.
Bitcoin miners got a break this week as the network's mining difficulty fell by 4.6%, reducing the challenge of validating new blocks. This drop occurred at block height 862,848, marking the first significant ease-up miners have seen after a period of record-high difficulty.
Bitcoin is up again Friday, but meme coins are blasting off with massive gains, led by one inspired by the viral baby hippo Moo Deng.
Crypto analysts say a daily close above $65,000 will confirm “bullish momentum,” but a possible reversal still can't be ruled out.
On Friday, the Bitcoin price hit $65,000 for the first time since August, accounting for +25% growth in three weeks. The bullish trajectory is backed by renewed inflow in Bitcoin ETF and macroeconomic change in the global market.
A newly filed lawsuit claims that Swan Bitcoin, a financial services company focused on bitcoin, is accusing former employees of trying to hijack its “billion-dollar bitcoin mining business.” According to the suit, Swan's subsidiary Electric Solidus alleges that Proton Management dubbed a “copycat company” in the filing, stole trade secrets from their mining operations.
Bitcoin continues to see a lot of momentum, as we have broken above the crucial $65,000 level during the past week. This of course is a very bullish sign, as the market continues to see a lot of money flowing back into the ETF.
Outperforming Bitcoin: A Simple ETF Data Strategy for Higher Returns 🚀
With Bitcoin (CRYPTO: BTC) breaking above $66,000, 10x Research predicts a swift move towards $70,000 and new all-time highs, fueled by stablecoin minting, monetary stimulus in China and renewed altcoin activity. What Happened: The 10x Research analysts led by Markus Thielen highlighted in their latest report that since the Federal Reserve's September rate cut, Bitcoin and Ethereum (CRYPTO: ETH) have surged 5% and 11%, respectively.
Bitcoin (BTC) has surged past the $66,000 mark, boosting investor confidence by the end of bearish September. This upward movement has revived hopes that BTC could soon break through the $70,000 level in its Uptober rally, a level it hasn't reached in nearly two months.
Buyers keep holding the initiative at the end of the week, according to CoinStats.
Bitcoin (BTC) surged past $66,000 on Friday, following the release of a softer-than-expected US Core PCE inflation report for August.
Ethereum price showed a modest increase following its previous gains over the last few days. The altcoin's daily trading volume surged by 20.38% as per CMC data.
Bitcoin is extending its upward rally, surpassing the $66,000 mark on Friday and reaching an intra-day high of $66,200. The surge coincides with the global crypto market cap climbing to $2.29 trillion, reflecting a 24-hour gain of around 2%.
Bitcoin (CRYPTO: BTC) is up 2% to $66,300 in Friday's trading session, marking a gain of 14% over the last two weeks as Bitcoin spot ETFs reported the sixth consecutive day of positive fund flows on Thursday. What Happened: Leading the charge of the $365.57 million net inflow, Ark Invest and 21Shares‘ ETF (CBOE: ARKB) took in $114 million, while BlackRock‘s ETF (NASDAQ:IBIT) attracted $93.3755 million, according to data from SoSo Value.
Vocal Bitcoin evangelist and cofounder of MicroStrategy behemoth Michael Saylor has reacted to BTC recapturing the $65,000 level and then briefly touching $66,000.
Ethereum transaction fees have surged in the past week due to an uptick in on-chain activity across the blockchain, according to Coinbase.
Peter Brandt, a veteran trader widely known for his technical analysis, recently issued an important update regarding Bitcoin's ongoing price action.
Bitcoin prices continued climbing this week, reaching an intraday peak of $66,456 per unit at 10:35 a.m. ET on Friday, marking a 2.4% boost against the U.S. dollar today and a solid 5% gain over the past seven days. Bitcoin Jumps to $66,456 Following U.S. PCE Report On Friday, Sept.
The Kingdom of Bhutan continues to mine millions of dollars in bitcoin.
Bitcoin, the largest cryptocurrency asset has captured the attention of crypto enthusiasts as the coin is demonstrating bullish momentum to hit the $66,000 level. Despite this newfound upward strength, whale investors have resumed shorting BTC, triggering worries about a possible decline in price.
The sharp decline in Bitcoin exchange balances indicates expectations for a substantial price surge on the horizon.
Bitcoin's bullish break above $65K has ignited FOMO in the altcoin market as altseason anticipation rises, according to 10x Research CEO Markus Thielen.
Bitcoin reaches $66K in its best September ever, driven by global economic factors and strong institutional demand. The post Bitcoin breaks $66K as it records its best September in history appeared first on Crypto Briefing.
According to 10x Research, Bitcoin may soon reach a new all-time high in Q4, which could potentially put an end to the recent volatile correction phase. 10x Research predicts that if Bitcoin surpasses the $65,000 mark, the bull market will resume, with the digital asset targeting $70,000.
Bitcoin's price has increased above the $66,000 mark, buoyed by positive inflation data, according to an analyst.
Bitcoin finally reached $65,000 after a long wait however, it does not look like BTC can sustain at this point. Since September 7 after bitcoin reached $53,900, it has been in a continuous rising mode and finally in two attempts breached the resistance at $65k.
A direct move to $66K without a retracement indicates robust market confidence, but also raises the stakes for potential volatility.
A $10 billion surge in stablecoin minting over the past weeks has flooded the crypto market with liquidity, Thielen noted.
Yesterday, Germany founded the Bitcoin Federal Association in the German Federal Parliament, the Bundestag.
According to CryptoQuant CEO Ki Young Ju, Bitcoin won all the "FUD" this year. FUD stands for fear, uncertainty and doubt.
The rise came immediately after Bolivia's central bank lifted a 42-month ban on cryptocurrency payments, allowing financial entities to conduct transactions with digital assets.