Is Bitcoin (BTC) Set for a Bullish Breakout Above $66,500?
Bitcoin is up 2.04%, trading at $64,420.02, showing bullish momentum. Whale transactions and ETF inflows signal long-term confidence.
Bitcoin is up 2.04%, trading at $64,420.02, showing bullish momentum. Whale transactions and ETF inflows signal long-term confidence.
The recent resurgence of Ordinals on the Bitcoin network marks a turning point in the digital asset ecosystem. While the traditional NFT market struggles to regain its former dynamism, Ordinals collections are showing remarkable performance, defying current trends.
Amidst rising discussions within the general crypto community about Bitcoin's next cycle top, a market expert has offered insights on the pressing subject and a potential timeline for the largest digital asset to experience a price peak in the ongoing cycle.
Bitcoin sellers are not rushing to distribute coins at current BTC price levels — even as hodler cohorts return to net profit.
The BTC/USD pair is at a very critical juncture right now. Making the all-important higher high at $65,050, or rolling over and falling below $63,900 could impact the $BTC price for the short to medium term.
Recent market analysis has unveiled exciting possibilities for Bitcoin, suggesting it could soon experience a substantial price increase akin to the recent bullish trends seen in both Gold and the S&P 500 Index. Analysts, including prominent market commentator Ali Martinez, have noted striking similarities in the price movements of these assets, hinting at a potential breakout that could see Bitcoin nearing its all-time high.
The supply of Bitcoin on centralized exchanges remains at multi-year lows as whale investors accelerate the accumulation pace.
Ether ETF experienced a $62.5 million inflow, marking its third-largest day since launch.
U.S. cryptocurrency ETFs showed positive momentum with Bitcoin funds extending their inflow streak to four days and Ethereum funds rebounding from previous outflows, as Bitcoin and Ethereum prices rose.
MicroStrategy's bold Bitcoin strategy sparks interest, prompting others to adopt similar "buy the dip" tactics.
SUI is now the 26th-largest cryptocurrency by market cap.
Michael Saylor, eager Bitcoin proponent and the co-founder of the MicroStrategy business software giant, has published a tweet to support the recent statement made by BlackRock about Bitcoin that made ripples across the cryptocurrency community on Tuesday.
A well-known technical reversal pattern called Head and Shoulders may be developing for Bitcoin. It frequently indicates a possible change in trend.
Global financial services company The Bank of New York Mellon Corp. (NYSE:BK) secured an exception from the U.S. Securities and Exchange Commission's (SEC) contentious SAB 121 rule, paving the way for its entry into the lucrative but largely untapped cryptocurrency custody market. What Happened: The regulator did not raise any objections to BNY's plan to safeguard cryptocurrency assets for its exchange-traded product clients, without reflecting these assets on the bank's balance sheet, Bloomberg reported Tuesday.
Many lawmakers are unhappy with how the SEC is handling cryptocurrencies like Bitcoin in the US. They believe the SEC is holding back innovation in the U.S. while other countries, like China, are speeding ahead.
Recently, a significant movement of older Bitcoin holdings has been observed on the network, sparking discussions about potential selling pressure in the market. This activity, as shown in data by the on-chain analytics platform CryptoQuant, has led to analysts advising “extreme caution” in the face of this development.
JPMorgan Chase CEO Jamie Dimon, known for his skepticism towards Bitcoin, has recently voiced his approval for Elon Musk's proposal to create a government efficiency commission. During an interview at the India Investor Summit, Dimon praised the initiative, emphasizing the importance of enhancing government accountability and operational competence.
One of the exciting developments from last Friday was the U.S. Securities and Exchange Commission's (SEC) greenlight for listing and trading of physically settled options tied to BlackRock's spot Bitcoin (BTC) ETF, the iShares Bitcoin Trust (IBIT).
The cryptocurrency market edged higher in the past 24 hours, with Bitcoin's (BTC) price reaching a range of about $64,755. The fear of further crypto capitulation has significantly subsided in recent weeks compared to the first weeks of September.
Recent research has delved into the relationship between bitcoin prices and global money supply, noting that they're highly correlated.
A news story that is circulating widely, especially on X, might not be true.
A popular crypto analyst thinks historical trends indicate Bitcoin (BTC) could be on the verge of a breakout. The pseudonymous trader known as Rekt Capital tells his 501,400 followers on the social media platform X that BTC has historically broken out from its re-accumulation range 154-161 days after its halvings.
BTC broke $64,000 in late U.S. hours Tuesday as traders pushed the chances of a second consecutive 50 basis point rate Fed rate cut to 61%. PLUS: Floki fundamentals fuel a price surge.
While the SEC ponders its decision on Ethereum options, the ETH ETF market on Monday saw its largest net outflows since July.
Spot Bitcoin exchange-traded funds in the U.S. recorded a significant jump in net inflows on Sept. 24, while spot Ether ETFs reversed course, moving back into net positive flows.
Bitcoin price is trading near $64,180 after hitting a high of $64,665, showing a modest pullback. Despite this slight dip, the total crypto market cap remains robust at $2.22 trillion, with only a 0.48% decline in the last 24 hours. Inflows into U.S.-spot Bitcoin ETFs dropped by 1.66% to $397 million.
Bitcoin (BTC) bulls aim for the $64K mark, a crucial level they last hit in late August. After four consecutive days of unsuccessful attempts to break above this target, the bulls face mounting pressure to counteract any bearish sentiments.
The Bitcoin Puell Multiple, a key on-chain metric used to assess the profitability of Bitcoin miners, is currently signaling a potential bullish reversal for the leading cryptocurrency. According to a CryptoQuant analyst under the pseudonym Darkfost, this metric has recently dipped into the “green zone,” a signal historically associated with upward price movements for Bitcoin.
ETH whales have been taking advantage of the dip in Bitcoin dominance by adding to their balances, supporting the recent bullish momentum.
Robbie Mitchnick, head of digital assets at financial titan BlackRock, has opined that Bitcoin, the flagship cryptocurrency, should be treated as a risk-off asset.
Bitcoin is at a critical juncture. The long-term trend remains bearish, but short-term indicators show potential for bullish movement. If Bitcoin can break through the key resistance levels soon, it could signal a reversal. However, failing to do so may confirm the bearish divergence, resulting in more downward pressure in the coming weeks.
In the past three weeks, the crypto market has surged by nearly 20%, with the total market cap jumping from $1.828 trillion to $2.261 trillion. The rise was mainly driven by a recent Fed rate cut, pushing Bitcoin to a one-month high of $65,142.
Cryptocurrency Prices: The cryptocurrency market reflects positive sentiment today, with the global market cap advancing by 1.89%, reaching $2.26 trillion. The Fear & Greed Index stays neutral at 53, suggesting a balanced market. Bitcoin has been the talk of the market, posting a 2.16% increase to $64,412.32.
In 2022, central banks around the world injected approximately $25 trillion into the global economy, a response to the financial turmoil caused by the pandemic. This massive liquidity infusion was intended to stabilize markets and bolster economies.
Led by Bitcoin (BTC) and Ethereum (ETH), the total cryptocurrency market cap rallied around 2 percent in the past 34 hours to hover about $2.3 trillion on Wednesday. In the last 24 hours, the sudden crypto pump resulted in more than $111 million liquidated, mostly involving short traders.
On-chain data suggests that the difficulty of Bitcoin mining is set to drop around 5% in the next network adjustment, a change that miners would appreciate. Bitcoin Network Block Time Has Been Slower Than Normal Recently The “Mining Difficulty” refers to how hard miners would find to mine blocks on the BTC network.
U.S. spot bitcoin ETFs recorded net inflows of $136 million on Tuesday, marking the fourth consecutive day of net inflows.
A Bitcoin wallet from the Satoshi era moves BTC mined in 2009! Sparking curiosity and speculation in the crypto community.
BlackRock's ETF inflows signal growing investor confidence in crypto assets, potentially driving further market stabilization and growth. The post BlackRock Bitcoin, Ethereum ETFs notch $158 million net inflows amid market recovery appeared first on Crypto Briefing.
Crypto Prices Today, September 25: The broader market on Wednesday embarked upon a remarkable upside trajectory. Bitcoin (BTC) price soared high to breach the $64K level today.
Bank of New York Mellon (BNY Mellon) is making significant strides toward launching custody services for Bitcoin (BTC) and Ethereum (ETH), following its recent exemption from the Securities and Exchange Commission's (SEC) Staff Accounting Bulletin (SAB) 121. As previously reported by Bitcoinist on Friday, BNY Mellon is the first bank to receive this exemption, allowing it to avoid treating the custody of cryptocurrencies as a balance-sheet liability.
Bitcoin and several major cryptocurrencies have been riding a wave of upward momentum over the past week. Bitcoin, the largest cryptocurrency by market capitalization, posted an 8% gain in value within seven days, leading a broader market rally.
As enthusiasm surrounding the introduction of spot Ethereum and Bitcoin ETFs in the United States continues to grow, Hong Kong has embarked on its journey to establish a spot ETF market for these digital assets.
Bitcoin continued its upward trajectory late Tuesday, surpassing $64,000 as traders anticipate further monetary easing measures from central banks around the world. The growing expectation of a second consecutive 50 basis point interest rate cut by the US Federal Reserve in November has provided a strong tailwind for the cryptocurrency market.
BNY Mellon Bitcoin ETF custody service received an exemption from the SEC's SAB 121.