Bitcoin (BTC) price rally is back on track after taking a brief breather on Tuesday. The largest cryptocurrency hit a new milestone this week with highs slightly above $35,000 for the first time in 2023 and with support at $33,000, traders have been persistently booking new positions anticipating another breakout above $35,000.
Bitcoin Price Uptrend Back On Track
Blockchain data from Santi...
Bitcoin BTC $34,535 easily soared above the $31,000 to $32,400 resistance zone on Oct. 23, which came as a suprise to many market participants. Usually, the price tends to consolidate or hesitate near stiff overhead resistance levels but that was not the case this time around.Market participants are bullish as they anticipate a Bitcoin spot exchange-traded fund to receive approval sooner rather than later. Bloomberg ETF analyst Eric Balc...
The excitement around the spot Bitcoin ETF has been catching up quickly with market players making predictions regarding its arrival. Galaxy Research has recently published a report stating that Bitcoin ETF will attract $14 billion in inflows during the first year of launch.
Estimating Inflows into Bitcoin ETF
In their report, Galaxy Research notes that the US wealth management industry rep...
The ticker for BlackRock's spot Bitcoin BTC $34,092 exchange-traded fund (ETF) IBTC has reappeared on the Depository Trust and Clearing Corporation’s (DTCC) website after disappearing for a few hours.The price of Bitcoin surged to new yearly highs following the Oct. 23 surprise appearance of IBTC on the website with markets frenzied over the sign of a potential soon-to-come spot ETF approval.When the ticker quietly disappeared from the s...
Amid a global financial landscape marked by inflation concerns and monetary policy changes, Michael Saylor, the CEO of MicroStrategy, has referred to Bitcoin as “perfected engineered crypto gold,” highlighting its potential as a store of value and a hedge against inflation.
Bitcoin’s Vital Role
Saylor’s comments came during a podcast discussion on Tuesday where he delved into the nature of...
Bitcoin BTC $33,761 price currently battles to hold the $34,000 level after a stellar rally and short squeeze saw its price push above $35,000 on Oct. 23.In an Oct. 24 market update, Capriole Investments founder Charles Edwards noted that after 7 months of consolidation, Bitcoin’s upward move melted the $32,000 resistance “like butter” and he expects that the upcoming monthly resistance is unlikely to be a hurdle. Edwards said:“It would ...
Bitcoin (BTC) price paced to $35,000 for the first time in 2023, with the spot trading volume rising by 187% to $50 billion and the market cap increasing by 13% to $676 billion.
Although the rally started last week amid fake news regarding the approval of a BTC spot ETF proposal by BlackRock, investors, especially institutions have been racing to satisfy their risk appetite for Bitcoin.
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The world’s largest cryptocurrency Bitcoin (BTC) has given a massive 12% breakout hitting its new high of $35,000 for the year 2023. With this move, Bitcoin has extended its year-to-date gains to more than 100%.
BlackRock Makes the Big Move
The recent development comes as BlackRock’s iShares Bitcoin Trust gets listed on the DTCC – Depository Trust & Clearing Corporation. Additionally, ...
The U.S. Court of Appeals for the D.C. Circuit issued a mandate compelling the Securities and Exchange Commission (SEC) to revisit Grayscale Investments’ application for a spot Bitcoin ETF. This decision stems from the court’s previous ruling, emphasizing the similarities between Grayscale’s proposition and the already sanctioned Bitcoin futures ETFs. Consequently, the court noted that Gra...
Bitcoin (BTC) price is finally embracing support above $30,000 while bulls reach out for the yearly high at $31,000. The bellwether cryptocurrency has since early last week sustained an uptrend amid heated discussions surrounding the much-anticipated approval of BTC spot exchange-traded funds (ETFs) in the US.
Investors have come to appreciate the fake news that rocked the crypto space abo...
