Markets

Bitcoin initiated yet another leg up in the past 24 hours, resulting in nearing $28,000 for the first time since June 2022. The altcoins are also well in the green, with ETH reclaiming $1,800, while SOL, UNI, AVAX, and ETC have skyrocketed by up to 14%. BTC Taps Yet Another 9-Month High The US banking crisis, which later expanded to Europe as well, harmed bitcoin’s price performance at the end of last week as the asset tumbled below $20,000 for the first time in two months....

Larry Fink, chief executive officer of the world’s largest asset management company BlackRock, believes tokenizing asset classes such as stocks and bonds could foster efficiency in capital markets and improve investor access. The CEO noted in his latest annual letter to investors that BlackRock is currently exploring the digital asset industry and would continue to do so, especially in areas related to permissioned blockchains and tokenization of stocks and bonds. BlackRock...

Markets are starting to price in an incoming Fed pivot as bank instability forces central banks to protect the financial system.Analysis from CryptoQuant analyst Cristian Palusi suggests that the liquidity crises now plaguing commercial banks may be a “long-awaited buy signal” for Bitcoin.  Banks Down, Bitcoin Up In a post published on Thursday, Palusci noted that the implied federal funds’ policy rates have severely shortened their time frame for when they think the central...

BitMEX co-founder and crypto-essayist Arthur Hayes published a lengthy blog post on Thursday breaking down the Federal Reserve’s new program to protect the banking system – and what it means for Bitcoin.  The initiative titled the “Bank Term Funding Program” is regarded by Hayes as a “repackaged” form of Yield Curve Control (YCC) that will trigger another bull market for Bitcoin.  QE Infinity Hayes began by reviewing the macroeconomic backdrop since 2020, from the period of...

Twitter’s owner and one of the wealthiest people on the planet – Elon Musk – dropped a sarcastic tweet regarding Jim Cramer’s recent market predictions.  The host of CNBC’s financial TV show – “Mad Money” – has given guidance to investors numerous times, but often that advice has turned wrong. A few days ago, he argued that people should use the recent crypto price rally as an opportunity to sell their stash. However, the market kept its uptrend, with bitcoin tapping a new...

Coinbase, America’s largest crypto exchange, is reportedly in talks to set up a new digital asset trading platform overseas that can offer access to global clients.  The discussions, which remain confidential, have yet to establish a precise location for the global marketplace, three people familiar with the matter told Bloomberg. However, the exchange has already made contact with market makers about how to connect to it.  “International expansion is going to continue to be...

Things change fast in the cryptocurrency industry. In the span of seven days, the market shifted completely, with the sentiment escaping the fear zone. The total capitalization also soared, adding a whopping $165 billion in the process. But what happened? Well, let’s dive in. First things first, it’s important to note that BTC’s price is currently trading above $26K, reaching highs last seen nine months ago in June 2022. This marks a 30% increase, and it comes on the back of...

Leading crypto Bitcoin climbed to $27K Friday, extending its 2023 bullish run amid intensified talks of a $100K price level.  Bitcoin (BTC) has extended its recent bullish momentum, recently hitting $27K for the first time since June last year. On Friday, the dominant digital currency climbed to $27,028, marking a 6.5% increase in 24 hours. This latest 6.5% price spike also saw BTC’s market cap swell within the same period to $549,070,761,254. However, Bitcoin has sustained marginal...

Bitcoin – the world’s number one digital currency by market cap – rose to $25,000 per unit in mid-February, thus giving traders newfound hope that the crypto market can indeed recover from its 2022 lows. Bitcoin Just Keeps Jumping 2022 was the worst year on record for the digital currency space. At the end of November in 2021, the price of bitcoin had risen to $68,000 per unit, the highest it’s ever been. Everyone was confident the space was going to reach all kinds of...

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Polkadot. Ethereum (ETH) This week, the market sentiment completely shifted, with bulls taking full control of the price action. ETH rallied by 21%, making it the best performer on our list. This spectacular rally allowed it to break above the key resistance at $1,660, which has now turned into support. With the uptrend in full swing, this cryptocurrency can reach $2,000, which is a key...