Bitcoin may now be closing in on $63k as the bulls goad it towards and beyond its former all-time high of $69k, but according to one metric, realized capitalization, the world’s biggest cryptocurrency has already closed in on a historic peak. Analysts at blockchain data company Glassnode stated on X yesterday that Bitcoin’s realized cap...
Given these technical indicators, Bitcoin’s current trajectory appears somewhat precarious. The cryptocurrency’s immediate future seems to hinge on its ability to either breach the $61,500 threshold with conviction or succumb to selling pressures underscored by its overbought status and potential reversal signals. Thus, while the digital asset exhibits a bullish front above $61,500, the prevailing...
Bitcoin (BTC) miners have begun to express a number of concerns ahead of the next halving event, which is set to occur in April. During the halving, the Bitcoin mining reward will be cut from 6.25 BTC to 3.125 BTC. Additionally, the Bitcoin network’s hash rate recently reached an all-time high, making it more difficult...
In wake of its recent surge north of $60,000, Bitcoin’s market value has overtaken that of Russia’s Ruble, cementing its place as the 15th most valuable currency worldwide. The supply of BTC on Thursday was 19.64105 million, putting Bitcoin’s market value at just over $1.210 trillion. According to fiatmarketcap.com, the value of all circulating Russian...
Grayscale’s spot Bitcoin exchange-traded fund (ETF) (GBTC) has seen a slow trading day experiencing net outflows of almost $600 million on Thursday, making this the second largest outflow day since 11th Jan 2024, according to data posted by Farside investors. The total GBTC outflows since 11 January now stand at $8,406.3 million. Reported GBTC outflow...
Michael Novogratz, the CEO of Galaxy Digital Holdings Ltd., has issued a warning to investors about a forthcoming dip in Bitcoin’s value amidst its current rally. During an interview with Bloomberg TV, Novogratz detailed his expectations for Bitcoin’s market movements. He predicted that, despite the digital currency’s impressive gains this year, a correction would precede...
Asset management firm Vanguard CEO Tim Buckley is retiring by year-end 2024 after leading the firm for six years, and a total of 33 years working at the firm. Vanguard is the second largest asset management firm after BlackRock. In an announcement, the firm said under Buckley’s leadership, Vanguard expanded its client base by tens...
The technical landscape is further defined by a 23.6% Fibonacci retracement level at $60,890, where the formation of a Doji candle hints at the likelihood of continued bullish momentum. Yet, a slip below this level could see Bitcoin targeting the $58,900 or $55,950, correlating to the 38.2% and 61.8% Fibonacci levels, respectively. The current RSI...
BlackRock is set to broaden Brazil’s cryptocurrency market with the introduction of the country’s first spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust BDR (IBIT39). Scheduled for launch on March 1 on Brazil’s main stock exchange B3, the iShares Bitcoin Trust Brazilian Depositary Receipts (BDR) will be accessible to qualified investors, with plans to...
Traditional banking giants Bank of America and Wells Fargo are offering eligible wealth management clients access to spot Bitcoin exchange-traded funds (ETFs). The ETFs have been available to clients for several weeks, a source familiar with Bank of America’s plans told Reuters. The move follows the Securities and Exchange Commission’s (SEC) approval of these investment vehicles...