Author: Umar Hashmi
Bitcoin and Ethereum have seen an increase in price and accumulation recently, but the number of holders tells another story. The crypto market capitalization has increased slightly in the last 24 hours. BTC and ETH’s price increase contributed to the increase in the market cap. The cryptocurrency market recently experienced a slight increase in market capitalization. This growth was largely driven by the prices of Bitcoin [BTC] and Ethereum [ETH], which dominate the market. Additionally, both assets have been experiencing significant accumulation volume recently. Bitcoin, Ethereum contribute to market increase According to data from CoinMarketCap, the cryptocurrency market’s market capitalization has increased by over…
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According to analysts, Bitcoin is currently facing a potential to soar to $79,000 based on chart analysis. Bitcoin could potentially reach $79,000 if current market conditions persist. Technical analysis and trading patterns suggest an imminent significant price movement for Bitcoin. Bitcoin [BTC] remains at the forefront of many discussions and analyses. Currently, the premier cryptocurrency is trading just above the $69,000 mark, a slight rise from recent fluctuations, and has reached a 24-hour peak of $69,133. Despite this upward trend, Bitcoin has not yet managed to surpass its March peak of over $73,000. Over the past week, the currency has seen…
United States Securities and Exchange Commission (SEC) Chair Gary Gensler revealed that spot Ether (ETH) exchange-traded funds (ETF) approval “will take some time,” the federal regulator said during a Wednesday appearance on CNBC’s “Squawk Box.” What’s Next For Spot ETH ETF Approval? Gensler’s comment may be hinting at approving all spot ETH ETF candidates’ S-1 form, a.k.a an initial registration form required by the SEC before the products can be made fully available to the public. The SEC approved several spot ETH ETF applicants’ 19-4b forms on May 23, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.…
Bitcoin (BTC/USD) is currently hovering around $71,000, marking a slight decrease of 1%. Despite this, the key pivot point at $70,600, indicated by the green line on the chart, is a crucial marker for traders eyeing a positive shift in crypto price predictions. With recent dynamics in U.S. economic data and record inflows into spot Bitcoin ETFs, the digital currency remains a focal point of interest. Spot Bitcoin ETFs Surge with $61 Billion in Holdings Amid Record Inflows U.S. Spot Bitcoin ETFs have shown impressive performance, continuously attracting investments over the past 16 days. On a notable trading day, these ETFs collected $886.6…
U.S. listed bitcoin miners have access to large amounts of power, making them potential takeover targets for hyperscalers and AI firms, the report said. Power demand from hyperscalers and AI firms may make bitcoin mining companies potential takeover targets, the bank said. JPMorgan said CoreWeave’s deal with Core Scientific validates the mining sector’s pivot to HPC. The report said that bitcoin miners under financial pressure following the recent halving may be more susceptible to a deal. Hyperscalers and artificial intelligence (AI) firms are exploring different alternatives to securing their energy needs, and this may make bitcoin (BTC) mining companies with attractive power…
US spot bitcoin ETFs saw their second-highest daily inflow ever on Tuesday at over $880 million, the most since March, as demand returns amid Bitcoin’s resurgence. U.S. spot Bitcoin exchange-traded funds (ETFs) saw their second-highest daily inflow ever on Tuesday, taking in over $886 million. This marks the largest single-day haul for the funds since March. The ETFs have now seen 16 straight days of inflows, sparking talk of a “second wave” of demand. Fidelity’s Wise Origin Bitcoin Fund led inflows with $378.7 million, followed by BlackRock’s iShares Bitcoin Trust at $274.4 million. In total, the spot Bitcoin ETFs hold over $60 billion worth of…