Bitcoin (BTC) is currently navigating a tumultuous landscape characterized by rising liquidations and increased market volatility. As the price hovers near the significant $70,000 resistance level, traders and investors are keenly observing the market dynamics that could influence the cryptocurrency's trajectory.
In a working paper, Amol Amol and Erzo G.J. Luttmer from the Federal Reserve Bank of Minneapolis argue that prohibiting bitcoin or imposing specific taxes could help governments implement permanent primary deficits effectively. Their research explores the impact of bitcoin on fiscal policies and offers potential solutions.
Amid ongoing economic challenges and geopolitical shifts, the financial world is searching for clarity. What lies ahead for our markets? We turn to Jason Pizzino, a respected investor and crypto expert, for his informed perspective on the year-end trends.
Several investing strategies have emerged as Bitcoin and crypto continue to grow in value and expand their use cases. For many, the investing thesis focuses on Bitcoin and Ethereum, two of the biggest cryptos by market cap.
Never has the US elections been so crucial for crypto investors. The outcome may be a catalyst to trigger a full-on bull market.
The European Central Bank (ECB) has stirred up the crypto community by suggesting that a Bitcoin price of $10 million is within the realm of possibility.
Despite the record European inflows, Bitcoin price has been unable to recover above the $70,000 psychological level since July.
Bitcoin price seemingly got rejected around the $69k territory on Monday, and the buildup of the trading volume afterward is a warning sign.
Dogecoin (CRYPTO: DOGE) has gained 28% over the past week, prompting traders to forecast a bullish run if Bitcoin (CRYPTO: BTC) breaks out. What Happened: In a recent podcast update, crypto traders DonAlt and CryptoCred linked the performance of altcoins, particularly Dogecoin, to Bitcoin's potential breakout.
Bitcoin (BTC) registered its best week in over a month, with its price up almost 8% as the world's largest cryptocurrency edges towards the $70,000 mark. BTC is currently trading just under $69,000 and has been up almost 1% in the past 24 hours.
On Oct. 21, 2024, bitcoin is trading at $68,322, supported by a market cap of $1.35 trillion. The cryptocurrency saw a 24-hour trading range between $68,145 and $69,431, with a trading volume reaching $28.79 billion. Technical indicators from multiple time frames present a mixed picture, highlighting crucial entry and exit points for traders.
The Bitcoin network's hashrate, a critical indicator of its security and computing power, reached a new all-time high of 769.8 exahashes per second (EH/s) on October 21.
A crucial resistance line that has held firm since Bitcoin's all-time high in March has once again gained the spotlight as Bitcoin turns green. On The Paul Barron Network, Tim Warren, Host of Investing Broz said that this red line has been tested multiple times—six to be exact—creating a barrier for upward movement.
The global cryptocurrency market has experienced a positive shift, with a 0.69% increase bringing the total market cap to $2.36 trillion. The 24-hour trading volume saw an impressive 80.85% surge, reaching $76.3 billion. Market sentiment continues to trend in the “Greed” zone, as indicated by the Fear & Greed Index at 63.
He believes that in just a few decades, Cardano could surpass Bitcoin in popularity and importance. He even suggested that many governments around the world might use the technology behind Cardano to run their systems.
Crypto analyst Cold Blooded Shiller has highlighted the bullish momentum of Bitcoin (CRYPTO: BTC), suggesting a continuation of the uptrend, where pullbacks should be seen as buying opportunities. What Happened: In a Monday morning post on X, Shiller emphasized that Bitcoin is showing uptrends across all timeframes.
Bitcoin is once again capturing attention, as its price edges closer to the $70,000 mark. In the past week, Bitcoin has surged by 10.68%, bringing its current value to $68,968.
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 21, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.
The Solana blockchain has threatened to dethrone the Ethereum network as the largest DeFi ecosystem backed by vibrant meme coin projects.
Analyst foresaw BTC hitting $74K before US elections based on historical trends.
In an analysis shared on X, crypto analyst Patric H. from CryptelligenceX outlines seven reasons why investors should be bullish about the Bitcoin price trajectory this week.
Peter Brandt, a veteran trader with over 50 years of experience on the financial markets, including crypto, has shared a new outlook on the price of Bitcoin (BTC), predicting a major rise for the major cryptocurrency.
Crypto investment products have seen a surge in inflows, reaching $2.2 billion throughout last week, according to a report by CoinShares. This marks the largest weekly increase since July 2024.
The Bitcoin price briefly touched a high of $69,227 earlier today, during European trading hours.
TL;DR Record-Breaking Hashrate: Bitcoin's network hashrate reached an all-time high of over 769.8 EH/s as of October 21, 2024, enhancing the blockchain's security and resilience. Economic Strain on Miners: Despite technological advancements, miners face economic challenges with high operational costs and reduced revenues, prompting them to explore new strategies and renewable energy sources.
With Bitcoin (BTC) hovering below $70,000, the record-breaking futures open interest may offer clues about its next price movement.
Global regulators have intensified their efforts against Bitcoin, with researchers from the Federal Reserve Bank of Minneapolis and economists at the European Central Bank (ECB) making bold recommendations to “eliminate” the leading crypto. Feds proposes Bitcoin ban On Oct.
Bitcoin's 7-day moving average (7DMA) hash rate surpassed 700 EH/s for the first time, marking a 13% increase since April's halving.
After a period of stagnation and downtrend, the perpetual market of Bitcoin has experienced a brief rebound in the past few weeks. With traders cautiously bullish about the crypto asset's near-term potential, this comeback was followed by a period of elevated volatility and price consolidation.
The altcoin market capitalization broke above a resistance, which could kickstart an altcoin season.
A Trump victory almost certainly ensures only one outcome – that crypto securities continue to flourish unchecked.
With the crypto market preparing to become bullish, people are starting to bet on who will perform better among Bitcoin, Ethereum, and Solana.
Spot Bitcoin ETF inflows can have a delayed effect on the BTC price, which takes a couple of days to materialize, according to market analysts.
The network's mining difficulty is also nearing a record high, projected to rise by at least 4.17% to 95.88 T on October 22.
Last cycle, there was a famous trader who would put an enormous number of $69,000 to the price of Bitcoin and his latest aspiration is that it would be $100,000 by the year 2024.
The Federal Reserve Bank of Minneapolis suggested that Bitcoin should be banned or taxed to help governments maintain permanent deficits and prevent fiscal imbalances.
Bitcoin derivatives have reached new heights as open interest (OI) in Bitcoin futures hit an all-time high of $40.5 billion on October 21, according to a report from CoinGlass.
An anonymous Bitcoin (BTC) whale from the Satoshi era has awoken after 13.4 years of dormancy and made its first transaction, according to a report by Whale Alert. The wallet with the address "1FoicoWy" has been inactive since 17 June 2011, when it received a 20 BTC portion of a 1,033.96 BTC transfer between two anonymous wallets, which involved 51 empty wallets, of which "1FoicoWy" was one.
The cryptocurrency market has shown strong upward momentum, gaining 1.79% in market capitalization, now standing at $2.38 trillion. Alongside this, 24-hour trading volumes have surged by 65.13%, reflecting heightened trader activity.
Rising Trump odds and pro-crypto policies from the Harris campaign are helping to fuel bullish bitcoin sentiment, according to Bernstein.
The Bitcoin (BTC) weekly candle closed at a price of $69,000, which is above the top of its bull flag, and on par with the all-time high of the previous bull market in November 2021. This excellent close could inspire the bulls to push the $BTC price higher over the course of this week.
Data from Glassnode, an on-chain data analytics and intelligence platform, reveals that BTC has more holders now than ever before. The asset's illiquid supply has steadily increased for months, according to Glassnode.
It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Here's why: Hedging Against Their Own Policies Nearly all countries are up to their ears in debt.
European Central Bank (ECB) mentioning $10 million market value for Bitcoin as plausible takes the crypto community by storm. Notable, ECB believes that Bitcoin price has no reasonable basis in the traditional economic sense, and its price is highly volatile and difficult to predict.
But what does that mean? Let's break it down in a way that's easy to understand.
Bitcoin Exchange-Traded Funds (ETFs) have recorded over $20 billion in inflows during their inaugural year, outpacing Gold ETFs by a staggering tenfold. This significant milestone highlights a growing enthusiasm for digital assets, positioning Bitcoin firmly within the investment landscape.
The year 2024 could become a key milestone in the history of bitcoin, with projections placing this famous cryptocurrency beyond $80,000. As November quickly approaches, analysts and experts see clear signs of an imminent explosion in macroeconomic indicators and graphic trends.