After a gigantic downfall following the global tensions and speculations of war, the crypto space is trying hard to validate a recovery. The Bitcoin price dropped to $60,000, but after a brief consolidation, the token quickly regained levels above $61,000. This displayed the growing strength of the bulls.
The Bitcoin market is grappling with mixed predictions, fueled by both technical analysis and external factors like geopolitics. Political turmoil has hurt Bitcoin before.
The International Monetary Fund (IMF) has reiterated its call for the country to reform its Bitcoin policies. During a press conference on October 3, 2024, Julie Kozack, director of the IMF's communications department, emphasized the need for a robust regulatory framework that addresses the risks associated with cryptocurrency use.
Bitcoin has recently bounced from a key support area, signaling a potential short-term recovery. Analysts note that this rebound coincides with oversold signals in the market, indicating a possible shift in momentum. According to analyst Josh of Crypto World, Bitcoin continues to form lower highs and lower lows, a characteristic of a larger bearish trend.
CryptoQuant CEO Ki Young Ju recently pointed out an interesting change in the way people are thinking about Bitcoin.
Cryptocurrency News Today: The crypto space has risen positively over the previous day, the upward momentum has resulted in a 1.64% increase in market cap to $2.16 Trillion. While the intraday trading volume saw an 18.35% drop with numbers at $66.
The Bitcoin price action in the past two weeks has reiterated its volatile nature despite the steady flow of institutional money. The cryptocurrency surged in the last days of September from $53,500 to a high of $66,000, only to pull back to $61,000 in the first few days of October, showing its unpredictable nature.
On October 4, Bitcoin spot ETFs recorded a net inflow of $25.59 million, showing growing investor confidence.
Quinn Thompson, chief investment officer at Lekker Capital, has identified the recent 6% dip in Bitcoin's price since September 30 as a prime moment for investors to increase their holdings. In a post on X on October 3, Thompson declared that purchasing Bitcoin (BTC) at its current price range of around $61,000 is a “no-brainer.
Spot Bitcoin ETFs now hold over 911,000 BTC, representing 5% of Bitcoin's total supply.
A CryptoQuant analyst known as “caueconomy” recently published a post indicating that Bitcoin (BTC) may have reached a local bottom. The analyst points to a significant liquidation event as a key sign that a short-term recovery could be on the horizon.
Bitcoin fear signals buying opportunity as metrics indicate potential for higher gains.
The mysterious Bitcoin whale has now sent $3.58 million worth of Bitcoin to Kraken's crypto exchange, Arkham Intelligence said.
The crypto prices today have sparked investor enthusiasm once again, showcasing a notable upward movement. Bitcoin (BTC) price touched the $62K mark today, whereas top altcoins mimicked with a pumping trajectory.
Bitcoin (BTC) has maintained its position above the critical $60,000 support level, even as many altcoins face significant downward pressure. Bitcoin's resurgence has propelled its market dominance to levels not seen in nearly three years, highlighting a clear divide in performance between Bitcoin and the broader cryptocurrency market.
It's just a few days of October and so many noobs are panicking and selling! Ever since the price dropped below the crucial support at $63,200, the markets have dropped heavily as most of the tokens have lost more than 15% to 20% in the past couple of days.
Bitcoin has yet to rally in October, with many bullish proponents awaiting the resumption of an uptrend. Among those closely monitoring the price action in anticipation of an uptrend is a well-known analyst on the social media platform X.
Bitcoin remains a focal point for both investors and enthusiasts. While many people see Bitcoin simply as a collection of charts and numbers, it represents much more.
A golden cross in the Coinbase Premium Index suggests a short-term Bitcoin price increase, with US demand on the rise.
A researcher from 21shares has offered an analysis of how bitcoin's price could respond to the U.S. jobs report. The analyst indicates that BTC prices could increase if the Federal Reserve reduces interest rates. These rate cuts, which are likely tied to labor market trends, could lower borrowing costs, potentially boosting the cryptocurrency market.
Ahead of the much-anticipated documentary release on October 8, which promises to reveal the identity of Bitcoin creator Satoshi Nakamoto, a 2009 Bitcoin whale has moved $3.6 million worth of BTC. This movement has generated significant interest, especially as it coincides with the forthcoming documentary, which has ignited curiosity about Nakamoto's identity.
A CryptoQuant analyst using the pseudonym “tugbachain” has recently shed light on a key trend within the Bitcoin market. Posting on the CryptoQuant QuickTake platform, the analyst focused on the Market Value to Realized Value (MVRV) ratio, an important metric in the Bitcoin market.
The flagship cryptocurrency Bitcoin is seeing new whales ‘fiercely' add BTC to their holdings amid an accumulation trend that the market “has never seen,” as whales that have entered the market during the latest bull run keep looking for profit.
Standard Chartered has cautioned that bitcoin could drop below $60,000 due to rising geopolitical tensions in the Middle East. While the bank sees this as a buying opportunity, it also highlights the unique relationship between BTC's price and the U.S. presidential race.
Follow the lead of Bitcoin Ekasi's Hermann Vivier and Motiv's Rich Swisher.
Options contracts give traders the right, but not the obligation, to buy or sell an asset at a predetermined price before a specific date. In this case, Bitcoin options provide traders with opportunities to hedge positions or speculate on future price movements.
Igor Runets, owner and CEO of Bitriver, commented on the growth potential of the Russian bitcoin mining industry following the approval of the mining law in the country. Runets stated that, due to the several advantages provided by the law, the Russian bitcoin mining industry could reach parity with the U.S.
The cryptocurrency market is currently navigating a turbulent landscape, marked by significant declines and unexpected price movements. Ethereum (ETH), Bitcoin (BTC), and XRP are at the forefront of this ongoing saga, each facing unique challenges and market dynamics that have left traders and investors on edge.
Infrastructure-based bitcoin mining company TeraWulf just sold off its 25% equity interest in the Nautilus facility for $92 million.
Federal Reserve initiates its easing cycle, a prominent voice in the cryptocurrency sector, Jack Mallers, has issued a stark warning to investors: the U.S. dollar is on a path to devaluation, making Bitcoin (BTC) a more attractive alternative for those looking to safeguard their savings.
Metaplanet, often referred to as “Japan's MicroStrategy,” has increased its Bitcoin (BTC) holdings by purchasing an additional 23.9 BTC. This move is part of the company's broader strategy to enhance its treasury, signaling a strong commitment to Bitcoin even as the market faces challenges.
$4.5 billion crypto asset manager Bitwise is filing for its second crypto exchange-traded fund (ETF) this week. According to the U.S. Securities and Exchange Commission (SEC), Bitwise filed a Form N-1A for a new product called the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC) earlier today.
Bitcoin (BTC) price faces uncertainty as market trends and macroeconomic factors clash. Strong job growth could prompt the Federal Reserve to cut interest rates, potentially benefiting Bitcoin by increasing liquidity.
A Satoshi-era bitcoin whale transferred $3.6M in BTC to Kraken after 15 years of dormancy, following another whale's $16M move days earlier. The post Bitcoin whale transfers $3.6 million to Kraken after 15 years of dormancy appeared first on Crypto Briefing.
Over $3.5 million in coins held since 2009 has been moved to Kraken, data shows.
At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserve's next meeting.
Bitcoin is trading at a pivotal level following a 10% dip to $60,000, a key psychological support. After a brief sell-off, the price has recovered and is now holding strong, flirting with the potential to rise again and challenge new highs.
Though bitcoin rallied Friday after a stronger-than-expected jobs report, industry watchers said geopolitical uncertainties could temper economic optimism in the coming weeks.
On the same day HBO dropped a new trailer for a documentary that attempts to identify the true identity Bitcoin's creator Satoshi Nakamoto.
The bullish jobs report adds fuel to hopes for an “Uptober” and fourth-quarter rally in Bitcoin's price.
Bitcoin price recaptures the $62,000 level as investor grow increasingly concerned about the fiscal health of the US
Asset manager Bitwise will combine three Bitcoin and Ethereum futures ETFs into a single offering with a momentum-based strategy.
According to CryptoQuant, the current Bitcoin network difficulty is 88.4 trillion — down from the 92 trillion recorded on Sept. 20, 2024.
The International Monetary Fund (IMF) has recommended that El Salvador narrow the scope of its Bitcoin (BTC) law and strengthen regulatory oversight during ongoing talks regarding a potential lending program, Bloomberg News reported, citing IMF Director of Communications Julie Kozack.
BTC prices dipped over the past week after experiencing a sustained uptrend on monthly charts.
A widely followed crypto analyst says that Bitcoin (BTC) is gearing up to reach a new all-time high (ATH) if it can break above one crucial resistance zone.
As HBO's documentary promises to reveal Bitcoin's creator, bettors on Polymarket speculate if Len Sassaman is the real Satoshi Nakamoto.