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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

The Bitcoin price surged 3% in the last 24 hours to trade at $103,676 as of 11:19 p.m. EST on trading volume that soared 56% to $85.8 billion. The BTC price pump took the king of cryptos to a new all-time high (ATH) of $106,352 before it pared gains. According to PlanB, the creator of the stock-to-flow model, the BTC price   could average around the $500,000 valuation across 2025, perhaps even surging to as high as $1 million. His model hinges on the assumption that demand for BTC will continue to grow. My forward guidance for 2024 has not changed since Oct 6, 2022 when bitcoin was 20k (see below): ✅️rise into April 2024 halving ✅️halving around 55k ✅️pump after halving ✅️hit 100k in 2024 – hit S2F target ~500k average (range 250k-1m) in 2025 https://t.co/BlUlk1XuLj — PlanB (@100trillionUSD) December 6, 2024 Bitcoin Price Indicators Show A Continued Uptrend The BTC/USD chart on the 1-day timeframe reflects a s...

The world’s largest cryptocurrency, Bitcoin (BTC), had a fairly good year with its triple-digit surge. The asset hit a new all-time high right before the much-awaited halving event. BTC surged 135% all year, securing a peak of $73,750.07. But the market is yearning for more. Also Read: Trump’s Crypto Venture Launches: Limited US Access to World Liberty Financial Bitcoin’s Performance and Predictions for ‘Uptober’ Source Bitcoin investors eagerly await the king coin to attain a new high. Following the halving event, the asset is expected to rise. Several believe that October could be the month that BTC rises. Historical Performance in October Historically, BTC has performed exceptionally during the tenth month of the year. The asset has made some amazing gains during nine of the last eleven October since 2013, further leading to the community labeling October as ‘Uptober.’ Current Market Status While the industry hopes to witness a bullish month, BTC started October on ...

BTC price encounters classic resistance as sellers refuse to let Bitcoin crack through its November ceiling. Bitcoin (BTC) shrank back from resistance after the Nov. 29 Wall Street open as United States GDP figures beat expectations. BTC/USD 1-hour chart. Source: TradingView GDP sets tone for macro-sensitive crypto Data from Cointelegraph Markets Pro and TradingView followed a familiar BTC price retracement on short timeframes. Bitcoin bulls had managed to propel the market above $38,000 the day prior, only to flip flop around that level before ultimately dropping as U.S. macro data hit. This showed Q3 GDP accelerating beyond anticipated levels, coming in at 5.2% versus 4.9%, respectively. This renewed concerns over how the Federal Reserve might handle policy ahead of an interest rates decision in mid-December. “5.2% is the final reading, it will mark the highest GDP growth since Q4 2022,” financial commentary resource The Kobeissi Letter wrote in part of a reaction on X (formerly Tw...

Bitcoin price analysis on both long and short timeframes is now focusing on the importance of the $27,000 mark. Bitcoin (BTC) cruised into a new weekly close on Oct. 15 as “ultra boring” trading conditions still offered hope of a $27,000 breakthrough. BTC/USD 1-hour chart. Source: TradingView "Ultra boring" BTC price may yet surprise at weekly close Data from Cointelegraph Markets Pro and TradingView tracked a typically sideways weekend, with BTC price volatility absent prior to the close. Still acting around the key $26,800 mark, Bitcoin denied traders major trajectory cues, while spot markets were quiet. $BTC Typical weekend algos hunting over exposed positions into CME Futures open around 12hrs from now & weekly open tomorrow Not really any significant flow for this weekend so far, just one spot buyer & perp buyer ~ likely algo pic.twitter.com/z38tKoozK3 — Skew Δ (@52kskew) October 15, 2023 Considering upside potential, Michaël van de Poppe, founder and CEO of...

Bitcoin trades in a predictable range, but will the sideways price action tempt altcoin traders to open new positions? A trending move in an asset class attracts traders, while a dull price action drives investors to the sidelines. Bitcoin (BTC) has largely been stuck in a range for the past several months, which could be one of the reasons for the drop in spot volumes. Bloomberg reported on Oct. 11 that Coinbase’s spot trading volume plunged 52% in Q3 2023 compared to Q3 2022. While the short-term remains uncertain, traders need to be watchful because long consolidations are generally followed by an explosive price action. The only problem is that it is difficult to predict the direction of breakout with certainty. Considering that the bulls have not allowed Bitcoin to dip back below $25,000 in the past few months, it increases the likelihood of an upside breakout. Daily cryptocurrency market performance. Source: Coin360 Investing legend Paul Tudor Jones said in a recent interview on...

Bitcoin and altcoins are struggling to hold the gains accrued earlier this week, a potential sign that the price breakout was just a response to Grayscale’s victory over the SEC. Bitcoin led the cryptocurrency markets higher on Aug. 29 following Grayscale’s victory in the lawsuit against the United States Securities and Exchange Commission. However, the rally could not be sustained, as analysts cautioned that the victory did not guarantee the approval of a spot Bitcoin (BTC) exchange-traded fund. Still, the victory may prove to be bullish for Grayscale. Glassnode analysts said in an X (formerly Twitter) post on Aug. 30 that the Grayscale Bitcoin Trust (GBTC) could return to a premium next year. It is important to note that GBTC has been trading at a discount to the spot Bitcoin price for the past two and a half years. Daily cryptocurrency market performance. Source: Coin360 In the short term, even though the S&P 500 Index is on a path of recovery and the U.S. Dollar Index has turn...

Rising interest rates, delayed Bitcoin ETFs, global financial turmoil and other regulatory pressures are contributing to the crypto market's underperformance. The crypto currency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between August 14 and August 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the largest since the FTX collapse in November 2022.  Total cryptocurrency market capitalization, USD. Source: TradingView Several economic factors have contributed to this decline. As interest rates have surpassed the 5% mark and inflation remains above the targeted 2%, finance costs for both families and businesses have risen, placing pressure on consumer spending and economic expansion. That causes less money available for savings and could force people to let go of their investments just to cover monthly bills. Since inflation e...

Even if the filings for Bitcoin spot ETFs are rejected, Lee predicts Bitcoin’s halving event will still push up BTC's price — but not to six figures. The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved , according to investment research boutique Fundstrat. In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research Tom Lee predicted that a bundle of successful Bitcoin spot ETF applications will shift Bitcoin’s supply-demand dynamics towards considerable price appreciation. When asked what the price of Bitcoin could be by the end of next year, Lee didn’t hold back: “If the spot Bitcoin (ETF) gets approved, I think the demand will be greater than the daily supply of Bitcoin, so the clearing price [...] is over $150,000, it could even be like $180,000.” Lee clarified that this could be the case so long as it is a...

Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call. Cryptocurrency exchange Binance released its latest proof-of-reserves (PoR) on Aug. 1, offering transparency into its crypto reserves. However, the movement of its USDC reserves at the time of Silvergte's collapse caught many people’s attention and became a topic of discussion on X. The latest reserve audit suggests Binance holds more than enough crypto and cash to cover the user funds. The ratio of Binance's net balances to its customers' net balances is more than 100% for all its assets as shown in the snapshot below. Binance asset reserve ratio to customer funds. Source: Binance While the report presents a healthy financial situation for Binance, its USDC reserve movements post-Silvergate collapse and the depeg of the stablecoin was the main topic of discussion. The PoR shows that Binance’s USDC balance decreas...