Bitcoin Price Financial News

XRP, Dogecoin and Cardano were trading in the red, while BNB, Avalanche, Toncoin and Tron were in the green. Meanwhile, the global cryptocurrency market cap fell 0.6% to around $1.6 trillion in the last 24 hours. At 11:53 a.m., BTC was trading 0.25% higher at $42,976, while Ethereum was down 1.13% at $2,218. The crypto market seems to have been range-bound with a downward bias in the last 24 hours. BTC underwent slight selling pressure after it crossed the $43k mark. However, on-chain data shows that Bitcoin mining hashrate has continued its uptrend and even reached a new all-time high. This translates into a positive sentiment building within the miners that can also trickle into price action, said CoinSwitch Markets Desk.

Bitcoin has dominated the headlines from crypto much of this year, the biggest gains have come as of late from memecoins and new-fangled nonfungible tokens. So—called altcoins such as Dogwifhat — yes, a dog pictured wearing a hat — are the hottest thing since, well the last time similar speculative tokens surged during the last bull market more than two years ago. Many of these tokens are jumping more than 1,000% in a matter of days while still trading at a fraction of a cent. “Alt-season is back,” said Teong Hng, chief executive at crypto investment firm Satori Research. “The current situation exudes similar vibes like the 1Q of 2021.” The resurgence has the tokens of the platforms where they trade, such as Solana and Avalanche, also surging in value, making them among the biggest gainers of larger tokens this year. The SOL and AVAX tokens are both up more than 10% on Wednesday.

XRP (0.7%), Solana (7.3%), Avalanche (3.4%), and Tron (1.1%) were trading in the green. At the time of writing, the global cryptocurrency market cap declined by 0.27% to around $1.61 trillion in the last 24 hours. At 12.31 p.m., BTC was trading 0.81% lower at $42,696. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $833 billion. The crypto market performed sideways with an upward bias in the last 24 hours. BTC is back to trading around $43k levels, while ETH is trading around $2.3k. This market movement can be attributed to the Feds as they signaled interest rate cuts for next year, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures.

cryptocurrency, fell 4% to $42,167 in Monday's trade, influenced by profit-taking among investors. The largest token declined as much as 5.7% from Friday's high of $44,705. Meanwhile, Ethereum, the second largest cryptocurrency, tanked nearly 5% to $2,236 at 10.56 am. The global cryptocurrency market cap also plunged 3.74% to around $1.58 trillion in the last 24 hours. Other popular altcoins like Toncoin and Chainlink plunged 9% and 8.5%, respectively. Also, XRP, BNB, Solana, Cardano, Dogecoin, Tron, Polkadot, Polygon, Litecoin, and Shiba Inu declined 2-7%. On the other hand, Avalanche rose over 5%. The abrupt market movement seems to be more of a correction or profit booking, considering BTC's eight consecutive weekly candle closures in the green, said CoinDCX Research Team.

Bitcoin delivered another bout of its notorious volatility in a sharp tumble toward $40,000 amid a broader crypto selloff. The largest token sank as much as 7.5% to $40,521 before paring some of the losses to trade 4% lower at $42,095 as of 11:12 a.m. in Singapore on Monday. Smaller tokens like Ether, XRP, Polkadot and Avalanche also fell. A gauge of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22.

Bitcoin after the breathtaking surge by the market bellwether in recent weeks. Cardano surged as much as 30% on Friday, while Solana gained about 8% and Avalanche increased 12%. Meanwhile, Bitcoin was up about 2% and Ether was down around 1%. Combined, the two largest tokens account for about 70% of crypto’s $1.6 trillion market capitalization. “After the huge rallies Bitcoin and Ethereum have seen, it’s not a surprise that they’re taking a bit of a sideways breather,” said Matt Maley, chief market strategist at Miller Tabak & Co. “However, the fact that these altcoins are rallying so strongly today tells me people have not lost any love for the overall asset class.” Solana is among the blockchains competing with Ethereum, crypto’s key commercial highway, for a bigger share of digital-asset activity

In the opening week of December, crypto exchange Bitget witnessed a significant surge in new user registrations, surpassing the entire count for December of the previous year by 20%.

cryptocurrency markets were trading higher on Thursday, led by Bitcoin, XRP, and Cardano. The global cryptocurrency market cap also surged 1.07% to around $1.6 trillion in the last 24 hours. At 12.22 a.m., BTC was trading 0.6% higher at $43,865, while the second most popular token, Ethereum, was down 0.4% at $2,260. «Bitcoin is presently trading around the $43,900 level, continuing the bullish growth of the last few days. To continue this positive momentum, Bitcoin will need to clear the resistance at $44,260 or risk finding support around the $43,700 level,» said Edul Patel, CEO of Mudrex. Market sentiments are presently bullish as traders await developments on the US Bitcoin Spot ETF applications in the near future, Edul said.

Other popular altcoins, such as Solana and Cardano advanced 14% and 6%, respectively. Also, BNB, Avalanche, Tron, Chainlink, Polkadot, Siba Inu, and Litecoin surged. On the other hand, XRP, Dogecoin, and Toncoin declined. BTC encountered a dip to $43,000 during the day, pulling back from its swift ascent to nearly $45,000 earlier this week. This suggests that traders opted to secure profits after the largest crypto's breakout from $38,000 a week ago, said CoinDCX Research Team. On the flip side, ETH witnessed a 5% upswing over the same period, reaching $2,372, marking its highest level since May 2022. This upward movement also positively influenced the prices of other ETH-related cryptocurrencies, positioning them as the top performers of the day. Ethereum's upsurge is credited to heightened institutional interest and the hopeful anticipation of an ETF approval by the SEC, CoinDCX added.

Cathie Wood’s Ark Invest is capitalizing on the recent surge as it offloaded millions of Coinbase and Grayscale Bitcoin Tryst shares when the leading crypto surpassed the $44,000 threshold.

South Korean crypto traders are emerging as key influencers in driving Bitcoin price up by over 50%, reaching its highest price level in two years.

Bitcoin price briefly broke through the $42,000 mark earlier today, gaining 6.6% in the last 24 hours.

Meanwhile, the global cryptocurrency market cap surged 2.2% to around $1.43 trillion in the last 24 hours. At 11.56 a.m., BTC was trading 2.85% higher at $38,031, while the second most popular token, Ethereum, was up 2.4% at $2,051. Solana also surged over 7% to $58.32. Positive sentiments prevailed in the market as Bitcoin breached the $37,800 threshold. This price movement could reflect that market participants have now absorbed the news about the recent leadership change at Binance, restoring bullish confidence in their investments, said Edul Patel, CEO of Mudrex.

BNB (-0.8%), Polkadot (-2.1), and Shiba Inu (-1.4%) were trading in the red, while Solana (3.3%), Dogecoin (0.5%), Toncoin (0.3%), Polygon (1%), and Avalanche (2.6%) were trading in the green. Meanwhile, the global cryptocurrency market cap declined by 0.14% to around $1.43 trillion in the last 24 hours. At 10.55 a.m., BTC was trading 0.08% lower at $37,937. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $741 billion. «Price movements across the crypto market remain predominantly bearish as investors and money managers grapple with the potential repercussions of intensified regulatory measures targeting the industry,» said ZebPay Trade desk.

Dogecoin. Meanwhile, the global cryptocurrency market cap surged 1% to around $1.44 trillion in the last 24 hours. At 11.59 a.m., BTC was trading 0.5% higher at $38,112, while the second most popular token, Ethereum, was up 2.6% at $2,091. Dogecoin also surged over 3.5% to $0.08. «After ending November with gains of 10%, Bitcoin has been trading range bound since yesterday. The buying pressure on BTC continues to surpass the selling pressure, suggesting that investors’ confidence is sustained and optimistic. Additionally, institutional participation continues to rise, with the latest being MicroStrategy's 10% increase of its BTC holding, translating into approx. $600 million worth of BTC,» Parth Chaturvedi, Investments Lead, CoinSwitch Ventures said. While key narratives involving the suspected approval of spot BTC ETF applications in the pipeline are sustaining investor sentiments, any new developments within the space can determine BTC’s future performance, Parth said.

Bitcoin soared to its highest price so far this year, as investors took on more risk ahead of comments from Federal Reserve Chair Jerome Powell which could give guidance on whether the US is closer to lowering interest rates. The world’s largest cryptocurrency rallied as much as 2.87% to a high of $38,834 on Friday. Prices of other digital assets tracked by Bloomberg, such as Ether and Solana, were also up more than 2%. Bitcoin’s jump constitutes the token’s highest value since May 5 last year, just before the collapse of the TerraUSD stablecoin ecosystem rocked the sector and began a steady decline in asset prices. European stocks also advanced and the dollar fell, with Powell set to speak at Spelman College in Atlanta later on Friday. US futures edged higher while Treasuries were steady, as investors tried to gauge whether November gains across asset classes still have further to run. “The macro environment is expected to remain a robust tailwind for crypto,” said Markus Thielen, head of research and strategy at Matrixport, in a note on Friday. “Another decline in inflation is anticipated, prompting the Federal Reserve to likely initiate interest rate cuts. Combined with geopolitical crosscurrents, this healthy dose of monetary support should push Bitcoin to new highs in 2024.”

Bitcoin’s chances of hitting $40,000 are top of mind for crypto speculators as they head into the final stretch of a year during which the largest digital asset more than doubled in price. The token has rebounded about 130% over the past 11 months from 2022’s crypto rout, outstripping investments like stocks or gold. Hopes for Federal Reserve interest-rate cuts next year, and expectations that the US will allow its first spot Bitcoin exchange-traded funds, together created a potent elixir. The rally weathered a US crackdown that put Sam Bankman-Fried behind bars for fraud at FTX and handed top crypto exchange Binance and its founder Changpeng Zhao rap sheets and big fines. For optimists, the drive to curb questionable practices and the recent flurry of ETF applications point to a maturing industry and the potential for wider crypto adoption. “In order to get to $40,000, we just need that approval for the spot Bitcoin ETF,” said Fiona Cincotta, senior financial markets analyst at City Index Ltd. The token recently lost some steam, in part as big swings in equities and currencies attracted the attention of investors, she said.

Bitcoin price has surged past the $40,000 mark for the first time since early May 2022.

Brazilians may soon be required to pay up to 15% tax on income derived from cryptocurrencies held on exchanges outside the country, after new income tax rules were approved by the Brazil Senate on Nov. 29.

The demand for institutional investors for Bitcoin (BTC) became evident on Nov. 10 as the Chicago Mercantile Exchange (CME) Bitcoin futures flipped Binance's BTC futures markets in terms of size. According to BTC derivatives metrics, those investors are showing strong confidence in Bitcoin's potential to break above the $40,000 mark in the short term.

Bitcoin (BTC) shrank back from resistance after the Nov. 29 Wall Street open as United States GDP figures beat expectations.