Bitcoin Price Financial News

On Wednesday, Bitcoin soared past the $52,000 mark, propelling its market cap beyond the $1 trillion milestone. This leap occurred in the wake of spot Bitcoin ETF approvals and in anticipation of the expected halving event in April.

Wall Street braced for a chilly reality as hotter-than-expected inflation data sent major indexes tumbling on Tuesday. The Labor Department report revealed US consumer prices surged in January, exceeding forecasts and fueled by rising shelter costs. This unexpected heatwave extinguished investors’ hopes for imminent interest rate cuts.

A key gauge of investor sentiment, the Crypto Fear & Greed Index, currently signals strong bullish sentiment and increased risk appetite among investors.

Bitcoin is flirting with a winning run last seen a year ago, aided by the record-breaking debut of US exchange-traded funds for the token. The digital asset rose about 1% to $48,436 as of 9:50 a.m. Monday in Singapore, poised for a seventh straight daily gain that would mark the longest such streak since January 2023 if the advance holds, data compiled by Bloomberg show.

cryptocurrency markets were trading marginally lower in Monday's trade after Bitcoin hit the 48,000 mark over the weekend. The global cryptocurrency market cap fell 0.8% to around $1.8 trillion in the last 24 hours. At 11:50 a.m., Bitcoin was trading 0.14% lower at $48,128, while Ethereum was down 1.15% at $2,498.

BitMEX co-founder and former CEO Arthur Hayes earlier posted on X a scenario where he sees Bitcoin price touching $1 million.

cryptocurrency markets were traded marginally higher in Wednesday's trade, led by Bitcoin, Ethereum, Tron, and BNB. The global cryptocurrency market cap surged 0.67% to around $1.65 trillion in the last 24 hours. At 11:26 a.m., Bitcoin was trading 0.65% higher at $43,016, while Ethereum was up 2.34% at $2,365. Other altcoin such as BNB, Solana, Dogecoin, Tron, Polkadot, Polygon, and Litecoin rose up to 3%. While XRP, Cardano, Chainlink, Toncoin, Shiba Inu, and Internet Computer declined.

Bitcoin (BTC) rose above $46,000 on Friday, hitting its highest level in a month.

Dogecoin plunged about 2.4%, whereas Ethereum and BNB also dropped.

The Bitcoin (BTC) price is enjoying an end-of-week relief rally in wake of economic data that showed inflationary pressures in the US continued to subside to more acceptable levels in December 2023.

Cryptocurrency markets were trading lower on Wednesday, dragged by Bitcoin, Ethereum, and BNB.

Cryptocurrency markets were trading in the red on Tuesday after Bitcoin, the world's largest crypto token, fell below $40,000 for the first time since the launch of 11 spot Bitcoin exchange-traded fund (ETF) on January 11.

GBTC has reported another $515 million in outflows on January 23, taking the total outflows to $3.4 billion since its conversion to spot ETF earlier this month. Nine other recently approved spot Bitcoin ETFs recorded a total of $249 million in inflows.

Bitcoin (BTC) is facing another wave of volatility falling below the $39,000 mark on Tuesday, a 4.33% slump in the past 24 hours. The largest crypto by market cap is currently trading at $38,955 at press time.

Cryptocurrency markets were trading lower in Monday's trade, dragged by Bitcoin, Ethereum, Solana, and Dogecoin. The global cryptocurrency market cap declined by 1.6% to around $1.62 trillion in the last 24 hours.

Despite facing hurdles, bitcoin’s price could rebound and potentially soar to $60,000 this year, per CoinShares’ analysis.

The possibility of Federal Reserve rate cuts in the coming months has the crypto community divided on the potential impact on the Bitcoin price. While rate cuts would typically be viewed as bullish, some analysts warn the policy shift may pressure Bitcoin in the short term.

Bitcoin, Ethereum, Solana, Cardano and Tron were trading in the red, while BNB, XRP, Dogecoin, Chainlink, and Toncoin were in the green. «The Bitcoin traders liquidating their positions as they were not able to meet the margin requirements as the Bitcoin process went up and then retreated in a short span after Bitcoin ETF listings. The market is expected to remain volatile in the coming weeks owing to the macroeconomic conditions,» said Shivam Thakral, CEO of BuyUcoin. At 12:19 p.m., Bitcoin (BTC) was trading 0.6% lower at $42,667, while Ethereum (ETH) was down 1.6% at $2,513. Whereas, altcoins, such as Toncoin and BNB, surged 13.2% and 4.5%, respectively. «BTC price experienced unexpected lows after the approval of the spot ETF, but the bullish performance of altcoins may signal an early reversal. The anticipation surrounding spot Bitcoin exchange-traded funds generated significant excitement, yet the failure to lead to a sharp upward movement may have prompted traders to take profits. This resulted in a sharp pullback to $41,500,» said ZebPay Trade Desk.

At 12:04 p.m., BTC was trading 0.88% higher at $46,264, while Ethereum was up 1.26% at $2,613. Whereas altcoins, such as Cardano, Avalanche, Polkadot, and Polygon rose over 3%. «In the past 24 hours, the overall market displayed volatility, especially after the launch of the BTC spot ETF. Notably, Spot Bitcoin ETFs achieved a trading volume surpassing $4.5 billion on their first day, indicating positive market sentiment,» said, CoinDCX Research Team. Meanwhile, overnight BTC touched a new higher high at $49,000 but experienced a quick drop to $46,000, influenced by higher-than-expected CPI data.

ETF) to track bitcoin, industry experts predicted that Bitcoin could hit the $200,000-mark. Additionally, inflows of $50-100 billion in Bitcoin ETFs is expected in 2024, they said. Global bank Standard Chartered said in a note, «We expect Bitcoin to enjoy price gains of a similar magnitude as a result of US spot ETF approval, but we see these gains materialising over a shorter (one- to two-year) period, given our view that the BTC ETF market will develop more quickly, This is consistent with our end-2024 view of Bitcoin at the USD 100,000 level.» «If ETF-related inflows materialise as we expect, we think an end-2025 level closer to USD 200,000 is possible. This assumes that between 437,000 and 1.32mn new bitcoins will be held in spot US ETFs by end-2024. In USD terms, this should be roughly USD 50-100bn,» it added. Predicting Bitcoin's price target for 2024, Mudrex CEO Edul Patel said, «It should be a great year for BTC in 2024. The combined effect of ETFs, halving and regulatory clarity drive up demand. It is expected that BTC will cross its previous highs of $69k.»

The SEC has finally approved the first spot Bitcoin exchange-traded funds (ETFs) in the US. This monumental decision opens the floodgates for eleven Bitcoin spot ETF issuers who have been patiently waiting in the wings, marking the beginning of a new era for cryptocurrency investing. Surprisingly Bitcoin’s price barely budged, only gaining about 1% in the hours after the news broke.