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Author: Jake Simmons

Bitcoin Price Surges Past $63,000: The Key Reasons

After a decline to $53,600 last Friday, the Bitcoin price experienced a major recovery over the weekend, exceeding the $63,000 threshold today. This marks a massive 17% increase since last Friday, reaching this level for the first time in two weeks. The rally can be attributed to several factors that collectively propelled the premiers cryptocurrency’s price upward. #1 The Trump Bitcoin Pump The resurgence in the Bitcoin price coincided with the attempted assassination of former President and 2024 presidential hopeful Donald Trump. The incident significantly impacted his odds in the upcoming election, with betting market Polymarket now forecasting a 70% probability of his victory. Crypto expert Will Clemente III highlighted on X, Trump’s odds of winning in November are skyrocketing in prediction markets. He further noted, “Based on Bitcoins reaction so far, looks like markets are going to begin pricing in a full Trump victory.” Related Reading: Bitcoin Accumulation: Whos Been Buying Up All The BTC Dumped By The German Government? Alex Krüger, a macro analyst, elaborated on the implications of a potential Trump presidency for the financial markets: The Trump Trade is now on its way. This what Trump winning, or the expectation of him winning, entails: Bullish for Crypto because Trumps administration might pursue supportive regulations for cryptocurrencies, fostering innovation and adoption. #2 German Selling Exhausted The recent completion of a large-scale Bitcoin sell-off by the German government also contributed to the price recovery. Germany exhausted its cache of 50,000 BTC seized from Movie2k, completing its final transaction of 3846.05 BTC last Friday. James Checkmate Check, a leading on-chain analyst, remarked on the incredible strength of the BTC price on X, Folks, Bitcoin just absorbed a 50k BTC market sell order in a few weeks. It dipped ~25%, in a very structured and orderly correction. Last time something like this happened was LUNA selling ~80k $BTC and price dropped from $46k to $25k, and soon after to $17k. Not the same. #3 DXY Is Showing Weakness The weakening US dollar is probably another driver of BTC’s recent gains. The US Dollar Index (DXY), which measures the dollar against a basket of major currencies, fell 1.8% over the last two weeks to a five-week low of 104. Related Reading: Bitcoin Whales Accumulate 71,000 BTC Amidst Price Dip Details The expectation of an interest rate cut and the growing US government deficit, which reached $1.27 trillion year-to-date in June, have contributed to the dollar’s decline, pushing investors towards riskier assets like Bitcoin and cryptocurrencies. #4 Bitcoin Miner Capitulation Ends Joe Burnett, another noted crypto analyst, highlighted via X yesterday that a month-long period of Bitcoin miner capitulation is nearing its end, indicating a potential reversal in downward pressure on Bitcoins price. Historically, the end of miner capitulation has been associated with subsequent price increases. #5 Technical Breakout From a technical perspective, Bitcoin surpassed the critical 200-day Exponential Moving Average (EMA) and a descending trendline this Saturday. This milestone can be considered a bullish signal among traders, indicating a possible end to the downturn that began in early June. At press time, BTC traded at $63,105. Featured image created with DALL·E, chart from TradingView.com

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Bitcoin Price Eclipses $72,000: 5 Major Factors

Author: Jake Simmons

United Kingdom

Source: NewsBTC

Apr 09, 2024 12:05

Bitcoin Price Eclipses $72,000: 5 Major Factors

In the early US hours of Monday, Bitcoin witnessed a significant surge, with its price climbing above the $72,000 mark. The ascent, marked by a more than 4.5% increase within a mere five-hour window from below $69,500 to an intra-day high of $72,579, can be attributed to a confluence of factors that have stirred the crypto market. #1 Strong Bitcoin Spot Demand The rally appears to be fueled by robust demand in the Bitcoin spot market, hinting at the potential sustainability of the move. Crypto analyst Daan Crypto Trades (@DaanCrypto) noted the healthy market dynamics, stating on X, “Funding rates still looking solid. Healthy reset, price slowly grinding up. That’s what we want and how we want to keep it. If longs start aping again while spot bid stops, then that will end up in another flush at some point. For now, all good.” Related Reading: 12 Days Until Bitcoin Halving: Why $100,000 Isnt Much Further Away In tandem with the rising spot prices, data from Coinglass reveals that $40.7 million in BTC shorts were liquidated today, further propelling the price upwards. #2 BTC Halving The imminence of the next Bitcoin halving, slated to occur roughly 12 days from now on April 20, has also probably played a pivotal role. Historically, Bitcoin has experienced a pre-halving price retraction followed by a significant rally leading into the event. The halving will reduce the Bitcoin reward from approximately 900 coins per day to 450 coins. Skybridge Capital’s Anthony Scaramucci shared his insights with CNBC recently, highlighting the unpriced nature of the upcoming halving and its potential to further drive Bitcoin’s price. Theyre now saying that the halving is priced in. I dont believe that. I think Bitcoin has a lot more to go here, he stated. At current prices, roughly $65 million in Bitcoin ETF inflows per day are needed to buy up the daily mined supply. In 2.5 weeks, that’s only $32.5 million. #3 BTC Follows Gold The correlation between Bitcoin and gold, both considered safe-haven assets, is another factor contributing to Bitcoin’s price movement. Gold’s strong opening this week, reaching a new all-time high of $2.253, has been mirrored by Bitcoin’s price trajectory. Gold enthusiast Peter Schiff and crypto analyst Michaël van de Poppe have both remarked on the positive correlation between the two assets, suggesting a shared momentum amid economic uncertainties. Gold bug Peter Schiff commented via X: It’s been a volatile Sunday night for gold. After an early $27 sell off, it rallied over $45, hitting a new record high above $2,348. This is an early stage of a major repricing of gold to reflect much higher future inflation. It’s a warning that monetary policy is too loose. Related Reading: $115-Million Bitcoin Whale Wakes Up From 10-Year Slumber Whats Next? Crypto analyst Michaël van de Poppe remarked: “There we go. Gold opening up with a big new upwards candle and Bitcoin is back to $71,000. Given the strength on commodities and the current price action of Bitcoin, I suspect we’ll see a test of the all-time high coming up. #4 Strong Weekly Close The significance of Bitcoin’s weekly candle close was highlighted by CRG, a renowned analyst, who pointed to it as a contributor to the rally. The ability of Bitcoin’s price to close sustainably above its 2021 high for the second consecutive week signals a strong bullish sentiment in the market. Great weekly close Fresh all time highs this week Source: my plums pic.twitter.com/wyxwomdDjZ — CRG (@MacroCRG) April 8, 2024 #5 Hong Kong Readies For Spot ETF Launch Finally, the anticipation of the launch of spot Bitcoin ETFs in Hong Kong may have injected optimism into the market. Reports indicate that major Chinese asset managers, such as Harvest Fund and Southern Fund, managing assets worth over $230 billion and $280 billion, respectively, are positioning themselves through Hong Kong subsidiaries to enter the Bitcoin ETF market, awaiting regulatory approval. #6 Extra: The “Ethena-Effect” Ethena Labs has started purchasing BTC as part of a cash-and-carry trade in order to create a safer USDe synthetic dollar product for users. The move is being critically observed by the crypto community. Ethena now holds more than half a billion in BTC hedged across Binance, OKX and Deribit Ready for the halvening pic.twitter.com/auquK59DfY — Seraphim (@MacroMate8) April 8, 2024 At press time, BTC traded at $72,103. Featured image created with DALL·E, chart from TradingView.com

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Bitcoin Explodes Above $94,000 Whats Igniting The Fire?

Author: Jake Simmons

United Kingdom

Source: NewsBTC

Apr 24, 2025 12:05

Bitcoin Explodes Above $94,000 Whats Igniting The Fire?

Bitcoins ascent gathered fresh momentum on Tuesday, charging above the $94,000 mark and extending the gains to 26% since April 9. Three interlocking forcesgeopolitics, strategic balance-sheet demand, and resurgent exchange-traded-fund flowscoalesced over the past 24 hours to ignite the rally. Why Is Bitcoin Up Today? The first spark came from Washington, where US President Donald Trump signaled a partial détente in his long-running tariff dispute with Beijing. Sitting behind the lectern at the White House, Trump declared that duties on Chinese imports will come down substantially, but it wont be zero, before insisting he would be very nice to China so long as both sides reach a deal. Macro economist Alex Krüger distilled the presidents remarks in a widely circulated X post, noting that Trump had just ticked most de-escalation / bullish boxes. Among the verbatim phrases Krüger highlighted were: Tariff on China will not be as high as 145%, Itll come down substantially, and, when asked whether he would play hardball, the presidents succinct No. Related Reading: Is The Bitcoin Price Top In At $109,000 Already? What The MVRV Z-Score Says Equity indices responded immediately, but Bitcoins move was more dramatic, underscoring the markets sensitivity to macro uncertaintyand to any sign that the Federal Reserves path could tilt more dovish should trade frictions ebb. While geopolitics set the tone, a second catalyst arrived from Wall Street: the prospect of a multibillion-dollar balance-sheet bid for Bitcoin spearheaded by the next generation of the Lutnick family. According to the Financial Times, Brandon Lutnickthe newly installed chair of Cantor Fitzgerald and son of Commerce Secretary Howard Lutnickis forming Cantor Equity Partners in concert with SoftBank, Tether, and Bitfinex. The consortium plans to seed a new entity, 21 Capital, with approximately $3 billion in Bitcoin. Tether intends to contribute $1.5 billion worth of the asset, SoftBank about $900 million, and Bitfinex roughly $600 million, the report said, cautioning that the numbers could still shift before a formal announcement expected in the coming weeks. On X, Texas Bitcoin Foundation board member Tuur Demeester framed the implications bluntly: This announcement could explain why bitcoin is up 12% in the past week. Related Reading: Bitcoin Rally Ahead? Analysts Say These Key Indicators Look Bullish The third leg of support arrived from the US spot Bitcoin ETF market, where inflows swung decisively back into positive territory. Data compiled across issuers show aggregate net inflows of $911.2 million on Tuesdaythe most forceful daily total since January 17, when pre-inauguration optimism around Trumps crypto president rhetoric produced $975.6 million. Fidelitys FBTC absorbed $253.8 million, Ark Invests ARKB attracted $267.1 million, and BlackRocks market-leading IBIT added $192.1 million, while the smaller Grayscale Bitcoin Trust (GBTC) reversed weeks of redemptions with a $65.1 million intake. The turnaround began Monday, when the cohort drew $381 millionending a multi-week stretch dominated by outflowsand gathered pace as Bitcoin cleared the $90,000 threshold. The two-day, $1.29 billion surge signals a material revival of institutional appetite. At press time, BTC traded at $94,212. Featured image created with DALL.E, chart from TradingView.com

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Final Countdown: Arctic Pablo Raises $1.96M Dont Miss Out Before Prices Skyrocket Among the Top New Meme Coins to Join Now as Dogecoin and Moo Deng Rise!

Author: NewsDeck

Indonesia

Source: Kanalcoin

Mar 24, 2025 04:40

Final Countdown: Arctic Pablo Raises $1.96M Dont Miss Out Before Prices Skyrocket Among the Top New Meme Coins to Join Now as Dogecoin and Moo Deng Rise!

Explore top new meme coins to join now: Arctic Pablo Coin, Dog Bitcoin, and Moo Deng. Discover their presale news, latest updates, and investment potential.

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