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The cryptocurrency market is volatile but guides strategic decisions. A Bitcoin ETF could lead to broader adoption while halving events increase scarcity. Understanding market fundamentals and embracing innovations are key. Regulatory developments shape the industry. Technological advancements present opportunities in the crypto revolution.
At 12:25 p.m., Bitcoin was trading 0.9% lower at $51,926, while Ethereum was up 0.34% at $2,931. Meanwhile, the global cryptocurrency market cap fell 0.1% to around $1.98 trillion in the last 24 hours.
The SEC this month approved 11 new ETFs that track the price of bitcoin, and the decision has been heralded by promoters of bitcoin — and of the new funds — as an important event, legitimizing bitcoin as an asset class.
Bitcoin faces resistance at the $44,400 and $45,500 levels, and a failure to surpass these levels could initiate a fresh decline with support at the $43,500 level. Despite being 34% down from its all-time high, Bitcoin has seen a 163% increase year-to-date, starting at the $16,800 level on January 5th, 2023.
The collective market capitalization of cryptocurrencies at the end of 2023 was $1.66 trillion. The rise in crypto prices began when BlackRock, the world's leading asset manager with more than $9 trillion in assets under management, filed for Bitcoin spot ETF
The cryptocurrency market traded in the deep red on Monday, dragged by losses in Bitcoin, Ethereum, Avalanche and Solana. In the last 24 hours, Bitcoin, the world's most valued cryptocurrency, was down 2.3% at $40,985, while Ethereum was down 3.6% at $2,134. Here are the crypto tokens that saw action on Monday:
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Bitcoin holds above US$42,000 as bullish sentiment continues ahead of key developmentsThe US Financial Accounting Standards Board (FASB) further contributed to the market boost by introducing new accounting regulations mandating companies like MicroStrategy, Tesla, and Block to assess their cryptocurrency holdings at fair value. Effective in 2025, these rules allow businesses to monitor real-time fluctuations in asset values
Major crypto tokens traded mixed with a negative bias on Friday. At the time of writing, Bitcoin, the world's most valued cryptocurrency, was down 1.12% at $42,773, while Ethereum was down 1.7% at $2,272. Here are the crypto tokens that saw action today:
Major crypto tokens were trading higher in Thursday's trade after the US Federal Reserve flagged the end of its tightening cycle and bolstered expectations of a rate cut in March 2024. At the time of writing, the world's largest crypto token, Bitcoin, was up 4.6% at $43,060, while Ethereum was up 5% at $2,289 Here are the crypto tokens that saw action today:
The cryptocurrency markets declined on Wednesday after US data reignited inflation concerns and elevated bets of a delay in rate cuts, ahead of the Federal Reserve's policy decision. At the time of writing, the leading crypto token Bitcoin was down 1.4% at $41,058, while Ethereum was down 1.9% at $2,173.
Cryptocurrency markets fell on Monday, dragged by Bitcoin, Ethereum and XRP amid profit-booking by investors. At the time of writing, leading crypto token Bitcoin was down 3% at $42,368, while Ethereum was down 3.7% at $2,249.
Cryptocurrency markets surged for the second straight day on Friday, led by altcoins like Ethereum, Solana and Cardano. At the time of writing, the leading crypto token Bitcoin was up 0.6% at $43,383, while Ethereum was up 1.3% at $2,358.
Crypto prices turned bearish on Tuesday as investors booked profits from their bets on riskier assets following a strong rally over the past two days. At the time of writing, the leading crypto token Bitcoin was 0.4% higher at $41,683, while Ethereum was down 1.3% at $2,202. Here are the crypto tokens that saw action today:
College dropouts who weathered crypto’s crash see promise aheadHe found success as a freelancer using Solidity, a programming language for creating “smart” blockchain contracts, and made about $300,000 in two years.
Crypto Week at Glance: Bitcoin trades sideways amid SEC's ETF approval delayCurrently, Bitcoin is trading at the US$37,400 level, reflecting a 3% increase on the weekly chart, a 7% gain month-to-date, and an impressive 125% surge year-to-date. The cryptocurrency is consolidating its position and may initiate another rally if it successfully surpasses the US$38,000 resistance zone.
Bitcoin consolidates at $27,500 post last week’s short-term rallyThe immediate resistance levels for Bitcoin on the upside are located around US$27,650 and subsequently US$28,000. A decisive breakthrough above the US$28,000 resistance level could trigger another bullish run
Bitcoin, most cryptos traded sideways following Fed Chair’s hawkish commentsIn an interesting turn of events, Germany's largest lender, Deutsche Bank, announced a collaboration with Swiss startup Taurus to establish digital asset custody and tokenization services, highlighting the growing involvement of traditional financial institutions in the crypto space.
Crypto Price Today: Bitcoin gains above $25,800; Cardano and Solana fall up to 1%Among the top gainers, MKR rose 125%, followed by OMG with a 35% increase, ZIL with 26%, REEF with 10% and BTG with an 8% gain, Sathvik Vishwanath, Co-Founder & CEO, Unocoin informed while highlighting biggest losers as ENS which is down 69%, WAVES down 64%, COTI down 38%, GNS down 28% and REP down 26%.
Crypto Price Today: Bitcoin slips below $25,800; XRP, Solana fall up to 2.24%Prospects of cryptocurrency, which has an inverse relationship with the US dollar, will be hinging upon the movement in the USD as investors in different asset classes await US CPI Data slated for release today, along with the US Producer Price Index (PPI) data and the retail sales data which is expected to be published on Thursday.
Crypto Price Today: Bitcoin tumbles to 2-month low, slips below $26,500; XRP, Litecoin crash up to 16%Bitcoin (BTC) and Ethereum (ETH) both neared a two-month low, with market participants closely monitoring their movements in response to the recent release of the Federal Open Market Committee (FOMC) minutes. Bearish sentiment increased following the latest FOMC minutes, where the Federal Reserve hinted at further rate hikes, said CoinDCX Research Team.
Bitcoin consolidates below $30,000 as market books profits after the last week’s rallyConversely, Ethereum, the second-largest cryptocurrency, previously trading comfortably above the $1,900 level, also witnessed a drop below that critical threshold. XRP, having achieved an impressive 70% gain in the past week, secured the fourth position with a higher market cap than BNB; however, it too, experienced sell-offs on Friday
Crypto Week at Glance: Bitcoin, Ethereum remain resilient despite volatile weekThe cryptocurrency market witnessed volatility throughout the week due to the release of Consumer Price Index (CPI) data for May and discussions around Monetary Policy. Bitcoin's trading range fluctuated between US$24,900 and US$26,250, with its lowest point since March. The Fed's decision to maintain unchanged interest rates and projected two more interest rate hikes in the current cycle influenced the drop in Bitcoin's value. However, BTC rebounded by over 1% in the last 24 hours due to BlackRock's submission of a crypto-backed ETF application. Louis Vuitton is also preparing for a collection of NFTs called Via Treasure Trunks.
Crypto week at glance: How the market movedCryptocurrencies suffered losses at the beginning of the week due to a correction phase caused by a combination of factors. However, Bitcoin's value increased following concerns over banking stability and positive Q1 earnings reports from Alphabet and Microsoft. Ethereum is currently consolidating and facing resistance near the $1,925 level.
Crypto Movement at a Glance: Filecoin, Astar among top gainers Whenever there is a fear of inflation, BTC falls as it does not like it. Investors run short of funds to spend when interest rates go up. Hence BTC falls. Despite the decline, BTC is up by more than 72% from its cycle’s lowest point in January
Tiny crypto ETF’s 100% surge puts it atop best-performers raceThe slew of bad news has been relentless for the industry —from companies filing for bankruptcies to those laying off large chunks of their staff. Still, crypto faithfuls maintain belief in the coin even as the industry grapples with one of its darkest stretches yet amid the fallout from the FTX implosion.
Crypto Movement at a Glance: No strong movement from either bulls or bearsOn the other hand, Ethereum also consolidated marginally with momentum on Thursday. However, despite a small drop, sentiment remains somewhat bullish as ETH continues to trade above the US$1,250 level. Other major cryptocurrencies also spend much of this week in a similar trend to BTC and ETH
Crypto Movement at a Glance: FTX rattles crypto market, top cryptos near yearly lowsHowever, the crypto market showed some signs of recovery on Friday after confidence returned over the macroeconomic outlook, and FTX also started to open its withdrawals partially to its users. Even though the day started with a market bounce back, some cryptos continued to fall.
Bankman-Fried: From crypto king to king of tech bubble’s losersA week that began with two crypto CEOs tweeting barbs ended with the bankruptcy of FTX, one of the largest and most prominent crypto exchanges, along with around 130 other companies that it owned. The business had been trying to cover a shortfall of as much as $8 billion, with the specifics of its failure -- now subject to multiple investigations -- yet to be revealed.
It said that in the past few years Asian countries led by India, Vietnam and Thailand witnessed a steep rise in crypto ownership, leading to a scenario where the correlation between equity performance and crypto asset performance had increased.
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