[ad_1] Bitcoin hits an all time high, Ethereum fees skyrocket with memecoin mania, and is Tesla buying Bitcoin again? These stories and more, this week in crypto. Bitcoin Hits All-time High Bitcoin surged to all-time highs in a week of volatile trading; first on Tuesday by touching just over $69,200 before a sharp 10% decline. But by week’s end Bitcoin had recovered and then briefly surpassed $70,000 for the first time. Billions poured into Bitcoin ETFs, and the anticipation of the upcoming halving event continues to fuel investor excitement. Meanwhile, Ether hit $4,000 for the first time in over two…
Author: Robert McCracken
[ad_1] ETF volumes are soaring, Bitcoin makes a top 10 list, and Binance faces a $10Bn fine in Nigeria, or are they? These stories and more, this week in crypto. Crypto Volatility Is Back After a remarkable 20% surge in Bitcoin’s price, the sudden influx of buyers for short-dated options has increased Bitcoin’s volatility to its highest since last year, which could lead to rapid and significant swings. Leverage has also come back across various crypto sectors, including NFTs, mining, and DeFi. Bitcoin derivatives’ open interest has increased 90% since October. Bitcoin Enters Top 10 Assets In a resounding comeback,…
[ad_1] Bitcoin posts its first red week in a month as Ether shines, Reddit reveals its crypto holdings and newly disclosed emails from Satoshi show his amazing foresight. These stories and more, this week in crypto. Troubling Week for Bitcoin After surging past $52,000, Bitcoin’s momentum seems to be losing steam, as it posted its first weekly decline in over a month, although the dip only amounted to around 2%. Investors who saw gains from the recent 25% price increase resulting from the excitement over the new US spot Bitcoin ETFs and the upcoming halving event, sold some of their…
[ad_1] MicroStrategy flashes diamond hands, the two largest NFT creators are merging together, and this Bitcoin rally could be different. These stories and more, this week in crypto. Bitcoin Hits a Two Year High Bitcoin’s market value surpassed $1 trillion this last week, reaching its highest level since late 2021. Year to date, bitcoin is already up 20%. This rally has had a unique feature though, as Bitcoin’s price rose alongside the resurgent U.S. dollar index and 10-year U.S. Treasury yields, when historically, Bitcoin has had a negative correlation with the dollar. MicroStrategy’s Profits Double MicroStrategy, the largest corporate owner…
[ad_1] Bitcoin gains over Chinese New Year, Solana’s network was down for hours and crypto miners have found a new hub in an unexpected location. These stories and more, this week in crypto. Chinese New Year Propels Bitcoin Fueled by Chinese New Year momentum, Bitcoin gained 10% over the week upholding a historical trend. Over the past 9 years, Bitcoin’s price has surged by an average of 11%, from 3 days before to 10 days after the start of the Chinese new year. The price bump helped BTC break through resistance levels which had held since spot Bitcoin ETFs were…
[ad_1] One stablecoin reports record profits but could threaten the crypto sector, Bitcoin ETFs can now advertise on Google, and how much money do pump-and-dump schemes actually make? These stories and more, this week in crypto. Tether Threatens Cryptos Tether’s stablecoin USDT, which has nearly $100 billion in circulation, achieved record-breaking profits of $6.2 billion in 2023. The success is shadowed by growing concerns from traditional financial players, as JPMorgan analysts criticized Tether as being a risk to the crypto sector, given its market dominance and lack of regulatory compliance and transparency. Google Warms-up to Crypto Google has updated its…
[ad_1] Trezor issues a security alert, Chinese crypto investors are back despite the ban and a classic Video Game has been immortalized on the Dogecoin blockchain. These stories and more, this week in crypto. Volatile Week for Bitcoin’s Price Bitcoin experienced a significant dip, falling below $40,000 for the first time since early December, marking a 20% decline from its recent high that came with the news of US bitcoin ETF approvals. Some speculate that the FTX’s bankruptcy estate’s sale of $1 billion of Grayscale’s bitcoin ETF shares, may have been a contributing factor to the price drop. However, by…
[ad_1] Bitcoin overtakes Silver, Solana will launch its second smartphone and Elon Musk reveals his personal crypto holdings. These stories and more, this week in crypto. Bitcoin Slips After ETF Approval Bitcoin’s price has plunged by more than 15% since the introduction of U.S. spot ETFs last week. Analysts reported one and a half billion dollars in outflows from the Grayscale Trust, speculating that investors who were previously benefiting from GBTC discounts, are now exiting the bitcoin market entirely rather than reinvesting into the new ETFs. With estimates of another $1.5 billion invested in GBTC in secondary markets, additional profit-taking…
[ad_1] Spot Bitcoin ETFs are approved but start with a hiccup, one stablecoin is going public and Bitcoin lifts off toward the moon, only to get lost in space?! These stories and more, this week in crypto. Bitcoin Makes History On Wednesday, The US SEC finally approved 11 spot Bitcoin ETFs in a process that began in 2013 when the Winklevoss twins first sought approval. Trading volumes exceeded $4bn across the New York Stock Exchange, Nasdaq and CBOE on the first trading day. Grayscale’s bitcoin ETF accounted for half of that volume with $1bn of it coming in the first…
[ad_1] Bitcoin starts the year with a boost, Michael Saylor sells stock to buy more Bitcoin and one blockchain is about to buy a memecoin?! These stories and more, this week in crypto.  Strong Start for Bitcoin in 2024 Bitcoin started the new year on an impressive rise, amid optimism for anticipated ETF approvals, a higher risk appetite driven by rate cuts, and the halving quickly approaching. BTC reached a 21-month peak of just below $46000 on Tuesday, before pulling back a bit. Bitcoin closed out the year with a gain of 156% in its strongest yearly performance since…