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Inflows from the new spot Bitcoin exchange-traded funds (ETFs) are the major reason BTC has experienced a significant uptick, surpassing the $50,000 level and exceeding $52,000. According to a tweet by Marc van der Chijs, Bitcoin investor and founder of several crypto firms, including miner Hut 8, ETF issuers are buying more than 10-12x the amount of BTC produced daily, and this is leading to a 2% price increase, which is roughly $1,000, per day. ETFs’ Impact on BTC’s Price...

Many industry experts have given their two cents on the future of the crypto market in the next 12 months, and most of them lean bullish. The most common reason is Bitcoin. In April 2024, the cryptocurrency will go through its pre-programmed halving, which will slash block rewards in half. This means that the supply available for miners to sell will effectively decrease by 50%. If the demand for it remains the same or it increases, the price will go up – that’s how markets...

Bitcoin’s price is poised for an upcoming rally this year, and the best scenario can take the asset to above $100,000 for the first time ever, said the CEO of CryptoQuant – Ki Young Ju. To do so, though, certain developments have to transpire, which are mostly related to the recently approved spot Bitcoin ETFs in the United States. ETFs Behind BTC’s Upcoming Rally? Ever since the entire crypto community and a bigger part of the traditional financial world started realizing...

Bitcoin continues its weekly run, and it jumped to a new monthly peak at $48,600 hours ago. The altcoins have also turned green one more time, and the total market cap has reclaimed the coveted $1.8 trillion level. BTC’s Run Continues The primary cryptocurrency was trading sideways for much of the previous ten days. The asset had calmed after last week’s volatility and remained in a tight range at around $43,000 until Wednesday evening. This is when the bulls gained control...

Bitcoin’s positive price performances continued in the past 24 hours as the asset jumped above $48,000 and marked a new monthly peak. The altcoins are also in the green, with ETH tapping $2,500 and SOL jumping to $110. BTC on the Rise A lot can change in the cryptocurrency market within a week, and this is what happened to BTC in the past seven days. Last weekend, the asset had recovered from the most recent declines and stood at around $43,000. The next several days were...

Last week, Bitcoin managed to recover a substantial portion of the ETF-induced losses that occurred in the two weeks after their approval but then stalled at around $43,000 for several consecutive days. In fact, the asset remained at around that level from last Thursday to this Wednesday with little to no actual movements. That, though, started to change on Wednesday evening when the bulls finally stepped up on the gas and initiated an impressive leg up that resulted in...

Bitcoin-bullish software company MicroStrategy (MSTR) increased its Bitcoin position again in January, bringing its total holdings to an even 190,000 BTC. Michael Saylor, the executive chairman of the company, said on Tuesday that the company acquired another 850 BTC in January for $37.2 million. That’s an average price of $43,764, slightly above today’s trading price of $43,206. According to the company’s Q4 earnings report, all of its coins together were acquired at an...

China’s economy grew 5.2% in 2023, but its stock market took a 10% tumble for the year. Meanwhile, some Chinese investors sought shelter in cryptocurrency despite the government’s Bitcoin ban. These brave souls were not unpatriotic, nor was their investment in Bitcoin against the fundamental principles of Chinese communism. In fact, they are on to something that most of the world’s governments have been slow to grok: Bitcoin represents an ideal store of value beyond borders...

The Indian crypto industry is seeking parity, urging fair regulations against foreign exchanges exploiting regulatory gaps amidst dwindling market share for local exchanges while investors face legal uncertainties. With unstable banking ties hindering operations, the sector is currently grappling with hurdles. However, India’s finance minister, Nirmala Sitharaman, refrained from providing any updates on the regulation and taxation of crypto during her interim budget address...

After the enhanced volatility experienced lately, BTC has finally calmed at around the $43,000 mark. Most altcoins are also untypically calm on a daily scale, aside from ICP and TIA – both of which have marked impressive gains. BTC Stalls at $43K Bitcoin slumped hard in the weeks following the approval and launch of nearly a dozen spot ETFs in the States and bottomed last Thursday at $38,500. The bulls finally managed to intervene at this point and didn’t allow any further...