Browsing: Bitcoin News

Bitcoin, the world’s leading cryptocurrency, continues to grapple with challenges as it hovers below the crucial $30,000 mark, raising concerns about potential price declines. Over the past 24 hours, the biggest digital asset experienced a major downfall of 2.38%, leaving it currently valued at $29,200. Investors are treading carefully during this critical period as they prepare for a busy week, closely monitoring upcoming interest rate decisions from major central banks such as the US Federal Reserve and the European Central Bank. According to information supplied by Coin Wu of Wu Blockchain, a 25-basis-point increase in interest rates is predicted in…

Bitcoin (BTC), the world’s largest cryptocurrency, has shown persistent rangebound behavior, hovering around the $30,000 mark. Investors eagerly await the next major move, uncertain about the cryptocurrency’s trajectory. On-chain data from Glassnode, analyzed by renowned crypto analyst Ali Martinez, indicates that a significant amount of 1.72 million BTC recently exchanged hands within the price range of $29,500 to $30,200. This range has now become a robust resistance level, adding to the challenges faced by Bitcoin in maintaining its position above the crucial $30,000 threshold. Bitcoin’s Price Outlook: Watch For Potential Bullish Surge Market participants are closely watching the current resistance…

Renowned investment manager BlackRock’s application for a Bitcoin Exchange-Traded Fund (ETF) has been acknowledged by the SEC, reflecting the growing acceptance of cryptocurrencies. BlackRock’s entry into the race and other industry giants set a positive tone for the crypto market, fueling optimism for regulated Bitcoin investment opportunities. In a significant move signaling its embrace of cryptocurrencies, BlackRock, a renowned American investment manager overseeing a staggering $9 trillion in assets, has taken a significant stride forward. The United States Securities and Exchange Commission (SEC) has formally acknowledged BlackRock’s application for a spot Bitcoin Exchange-Traded Fund (ETF), commencing the regulatory agency’s thorough…

US SEC officially recognizes Bitwise Spot Bitcoin ETF, bringing the regulated Bitcoin ETF closer to reality. The acknowledgment marks a significant milestone in the cryptocurrency industry and investors eagerly await the SEC’s review process and its potential impact on Bitcoin investment opportunities. In a groundbreaking development for the cryptocurrency sector, the United States Securities and Exchange Commission (SEC) has formally acknowledged Bitwise’s application for a spot Bitcoin Exchange Traded Fund (ETF) product. The SEC’s acknowledgment carries immense significance as it brings us one step closer to the possibility of a regulated Bitcoin ETF. In the past, numerous Bitcoin ETF proposals…

Market optimism surges as Bitcoin steadily climbs and inflation indicators show promising results. Bitcoin (BTC), the leading cryptocurrency, has managed to maintain its position above the $30,000 mark, with investors hopeful for a brighter future. This optimism is fueled by recent data indicating a marginal decline in the United States inflation indicator, the Consumer Price Index (CPI). Bitcoin price increased 1.1%, reaching $30,363, following the release of the CPI data. It revealed that inflation in June had fallen to its lowest level in over two years. Goods and services experienced a 0.2% increase month-over-month, while the CPI results surpassed the…

Bitcoin’s attempt to surpass a resistance level ends in failure, prompting an expert to advocate for an infusion of fresh capital into the cryptocurrency. Bitcoin (BTC), the leading cryptocurrency, faced a setback as it failed to surpass a critical resistance level on July 12. The rejection occurred shortly after BTC’s approached the $31,000 mark, causing it to retreat.  This development has led to Bitcoin resuming its range-bound movement, with short-term holders opting to hold onto their coins rather than cashing in on profits. Amidst this scenario, industry experts are exploring the factors that could potentially trigger a significant move for…

A significant bullish divergence appears to be emerging for Bitcoin and Ethereum, as an on-chain indicator reveals that traders are currently selling their BTC and ETH at a slight loss. The indicator in focus is the “Net Realized Profit/Loss” (NRPL), which meticulously tracks the net profit or loss experienced by investors through their selling activities. Santiment, a prominent on-chain analytics firm, has analyzed the blockchain history of each coin being sold to determine the price at which it was last moved. If the previous selling price was lower than the current spot price, the sale is considered profitable, while a…

Bitcoin maintains its position above the key support level of $30,000, while market observers eagerly anticipate the release of the US Consumer Price Index (CPI). The CPI, a highly regarded gauge of inflation, will play a crucial role in shaping the Federal Reserve’s future decisions on interest rates, following their decision to halt rate hikes in early June. Amidst this backdrop, experts are divided on how Bitcoin’s price will respond to the forthcoming CPI data, slated for release on Wednesday. Market expectations suggest a 3% range, which could potentially signal a further easing of inflation in the United States, potentially…

Bitcoin’s strong rebound and appeal to institutional investors defy gloomy predictions, showcasing the cryptocurrency’s resilience and volatile nature. Bitcoin, along with several other cryptocurrencies, experienced a significant downturn following the FTX meltdown last year. However, in a surprising turn of events, the cryptocurrency has displayed impressive resilience, surging by more than 80% since the start of this year. This unexpected recovery has caught the attention of institutional investors, who now view BTC as an appealing investment opportunity. Standard Chartered’s Eric Robertsen’s Bitcoin Forecast Fails Amidst Surprising Rebound Eric Robertsen, the Global Head of Research at Standard Chartered, had previously made…

Standard Chartered predicts Bitcoin will surge to $120K through supply shock, marking a significant shift in sentiment. Bitcoin, the world’s largest cryptocurrency, is set to experience a supply shock that will push its price to new heights, according to global banking giant Standard Chartered. In a recent report, Standard Chartered predicts that Bitcoin’s price will reach $50,000 by the end of this year and could even surpass its all-time highs in 2024. The banking giant’s forecast represents a significant shift in sentiment, considering that just last year, Standard Chartered projected Bitcoin’s price to drop as low as $5,000. However, the…