Tag: Markets

Bulls fight to keep Ethereum price above $4K ahead of Friday’s $435M options expiry
Altcoins

Bulls fight to keep Ethereum price above $4K ahead of Friday’s $435M options expiry

Ether (ETH) flirted with its $4,380 all-time high on Oct. 21 but failed to breach it by a few dollars. Some analysts, including independent market analyst Scott Melker, believe that an exchange-traded fund (ETF) approval is the next logical step for the U.S. Securities and Exchange Commission (SEC).My bet is we will see an Ethereum Futures ETF before we see a physical Bitcoin ETF.— The Wolf Of All Streets (@scottmelker) October 20, 2021However disappointed Ether bulls might be, they are likely to score a $78 million profit on Oct. 22's options expiry. Bears were apparently caught off-guard as Ether accumulated a 35% gain month-to-date.Ether price at Bitstamp in USD. Source: TradingViewInvestor sentiment was also positively impacted by the pension fund for firefighters in Houston, which ann...
Traders brace for a drop to $58K if Bitcoin price loses the $62K support
Bitcoin

Traders brace for a drop to $58K if Bitcoin price loses the $62K support

Whipsaw price action has returned to the cryptocurrency market after Bitcoin’s (BTC) price lost steam at $67,100 and retracted to the $62,000 level.  An early morning 87% flash crash in the price of BTC at Binance US saw the price briefly touch $8,200 and it may have set the market on edge, but generally, it appears to have been an isolated event. Data from Cointelegraph Markets Pro and TradingView show that bears have briefly taken control of the market with the price now fluctuating between $62,000 to $63,500.BTC/USDT 4-hour chart. Source: TradingViewHere’s a look at what traders and analysts are saying about the recent price action for Bitcoin and what could be next for the top-ranked digital asset. $66,000 needs to become supportThe rapid climb in Bitcoin over the past t...
Ark Invest founder Cathie Wood passed on buying the first Bitcoin Futures ETF
Bitcoin

Ark Invest founder Cathie Wood passed on buying the first Bitcoin Futures ETF

Ark Invest founder and CEO Cathie Wood did not invest in the ProShares Bitcoin Strategy Exchange Traded Fund, or ETF, on opening day, according to Business Insider. Wood said about the ETF’s debut:“No, we did not [invest]. We’re looking at this very carefully […] there are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation.”The contango of the ETF refers to when the future price of the commodity is higher than the spot price. Backwardation is when the forward price of the futures contract is lower than the spot price in a downward trend.This past June, Cathie Wood’s Ark Invest partnered with 21 Shares to file for its own Bitcoin ETF. She is also no stranger to the equities market when it comes to investing in cryptocurrencie...
Following Bitcoin’s all-time high, DeFi TVL hits a record high above $233B
Altcoins

Following Bitcoin’s all-time high, DeFi TVL hits a record high above $233B

Bullish sentiment is running high across the cryptocurrency market on Oct. 20 as Bitcoin’s (BTC) surge to a new all-time high at $67,000 thrust the digital asset into uncharted territory and investors are closely watching to see how altcoins and DeFi tokens react to the move.Crypto Fear & Greed Index. Source: Alternative.meThe DeFi sector has also benefited from BTC's bullish breakout and today the total value locked (TVL) across all DeFi protocols climbed to a new record-high.According to data from DeFi Llama, which collects data from DeFi protocols across all major blockchain networks, including Binance Smart Chain (BSC), Avalanche (AVAX) and wrapped Bitcoin (WBTC), there is now more than $233.88 billion in value locked in protocols across the various blockchain networks. Currently, ...
Price analysis 10/20: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI
Bitcoin, Price Analysis - Top 10 Crypto

Price analysis 10/20: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Bitcoin (BTC) surged to a new all-time high today, hitting close to $67,000. Ether (ETH) also broke above its immediate resistance and has started its march toward the all-time high. This pushed the total market capitalization of the crypto sector to a new all-time high above $2.64 trillion.The successful debut of the ProShares’ Bitcoin Strategy exchange-traded fund (BITO) acted as the trigger to boost sentiment in the crypto space. The ProShares’ ETF trading volume on the first day of the launch exceeded $1 billion, making it the second-most successful ETF debut based on the trading volume on day one.Daily cryptocurrency market performance. Source: Coin360A panel of 50 fintech industry specialists, commissioned by Finder, believes that strong on-chain fundamentals, a favorable macro envir...
Altcoins take the next leg up as the total crypto market cap tops $2.63 trillion
Altcoins

Altcoins take the next leg up as the total crypto market cap tops $2.63 trillion

Crypto markets are in an absolute state of euphoria after Bitcoin (BTC) caught a bid and hit a new all-time high at $67,000. Bitcoin's surge to $67,000 also helped to spark double-digit gains for multiple altcoins as the age-old adage of a rising tide lifting all boats appears to be in full effect. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were OriginTrail (TRAC), Kadena (KDA) and Cartesi (CTSI). OriginTrail makes a moveOriginTrail is a protocol that operates on the Ethereum (ETH) network and specializes in harnessing blockchain technology to improve logistics and supply chain management. According to data from Cointelegraph Markets Pro, m...
Crypto market cap hits new all-time high as BTC, ETH soar
Altcoins

Crypto market cap hits new all-time high as BTC, ETH soar

The total market capitalization of all cryptocurrencies rose to new all-time highs on Wednesday, capping off a dramatic months-long recovery that reaffirmed the bullish narrative for Bitcoin (BTC) and Ether (ETH).The crypto market cap — an important barometer for the overall health of the digital asset economy — reached a high above $2.63 trillion on Wednesday, according to Cointelegraph Markets Pro. That represents a gain of 5.9% over the previous 24 hours. A buying frenzy in the market lifted Bitcoin to new record highs, as the flagship cryptocurrency touched an intraday peak of $67,016.50. Ether, meanwhile, crossed the $4,000 mark for only the second time since May. With the exception of stablecoins, every cryptocurrency in the top-ten market cap rankings printed gains. The new market c...
SEC Chair Gary Gensler responds to concerns about first Bitcoin-linked ETF
Bitcoin

SEC Chair Gary Gensler responds to concerns about first Bitcoin-linked ETF

SEC Chair Gary Gensler and Proshares CEO Simeon Hyman discussed the launch of the first Bitcoin-linked ETF in a CNBC breaking news segment on Tuesday.Proshares Bitcoin Strategy ETF, also known as BITO, is based on CME Bitcoin futures contracts. CNBC commentator Bob Pisano shared concerns from some investors that BTC futures could deviate from the BTC spot price:“The futures market is a better place for price discovery,” said Hyman. “The CME futures market trades more volume than the largest US crypto exchange. We launched a similar mutual fund on 7/28 and since we launched on Friday, the Bitcoin Reference Rate is up 52 percent, our BTC mutual fund is up 52 percent and the BTC Greyscale Trust is up 37 percent.”The debut of BITO follows announcements that other BTC-linked funds, including Va...
Billionaire investor Carl Icahn thinks Bitcoin may be the best hedge for inflation
Bitcoin

Billionaire investor Carl Icahn thinks Bitcoin may be the best hedge for inflation

Billionaire investor Carl Icahn warned Tuesday that the next market crisis may be on the horizon, and Bitcoin could be the best hedge against inflation.With the United States government continuing to stimulate the economy, Icahn stated that he fears the dollar is becoming more devalued and that the price of goods is rising.“In the long run we are certainly going to hit the wall. I really think there will be a crisis the way we are going, the way we are printing money, the way we are going into inflation. If you look around you, you see inflation all around you and I don’t know how you deal with that in the long term.” Icahn said on Monday with CNBC. His comments were in line with Federal Reserve Chairman Jerome Powell who mentioned that inflation was rising along with supply issues:“As the...
Bottom-buying traders and new governance features back KeeperDAO’s 118% rally
Altcoins

Bottom-buying traders and new governance features back KeeperDAO’s 118% rally

The rapidly evolving realm of decentralized finance (DeFi) has brought a new level of utility and value to the cryptocurrency ecosystem in 2021 but has also provided nefarious actors with numerous exploits in siphoning profits and tokens away from unsuspecting investors. In the past few days, KeeperDAO (ROOK), a DeFi protocol that allows participants to trade, borrow and stake assets with protection from miner value extracted (MEV) bots that front-run transactions, has rallied 118%. Data from TradingView shows that since trading at a low of $124.70 on Oct. 12, the price of ROOK has rallied 118% to a daily high at $298 as its 24-hour trading volume spiked from an average of $7 to $24 million. ROOK/USD 4-hour chart. Source: TradingViewThe reasons for the surging price of ROOK include th...