Bitcoin Price Financial News

Tuesday, November 14, 2023 – As Bitcoin (BTC) price finds its feet above $36k, market interest in Bitcoin mining is hitting all-time highs, fuelling an explosion in the Bitcoin Minetrix presale as retail investors race to participate in Bitcoin Cloud Mining.

Bitcoin (BTC) targeted $37,000 at the Nov. 14 Wall Street open as the latest United States inflation data undercut expectations.

Bitcoin (BTC) remains on track to near $50,000 around next year’s block subsidy halving event, longtime analyst Filbfilb says.

Bitcoin (BTC) institutional investment vehicles have seen over $1 billion in new inflows in less than two months.

Bitcoin (BTC) starts a new week still riding high near $37,000 as macroeconomic data returns to the fore.

The number of crypto wallet addresses holding more than $1 million in Bitcoin (BTC) has more than tripled this year. 

Bitcoin (BTC) is on target to end the week with gains of about 6%, indicating continued demand from the bulls. MicroStrategy co-founder Michael Saylor said during a speech at the 2023 Australia Crypto Convention on Nov. 10 that Bitcoin’s demand on a monthly basis could surge between two to 10 times by the end of 2024. Additionally, the halving will reduce the supply by half. Saylor expects both these events will cause the price “to adjust up.” 

Bitcoin (BTC) will “most likely” see a serious price drawdown before a key date for institutional investors dawns, says gold bug Peter Schiff.

With the Bitcoin halving just months away, MicroStrategy co-founder and Bitcoin bull Michael Saylor thinks that demand for BTC could grow by as much as 10X by the end of 2024.

After 2021, we entered an era in cryptocurrency where people stopped talking only about financial decentralization and started to broadly discuss the tokenization of everything, thanks in part to nonfungible tokens (NFTs).

Bitcoin (BTC) may next be a “sell” at at least $110,000 as its new bull cycle plays out, a classic on-chain indicator suggests.

The price of Bitcoin has risen substantially in recent weeks, pushing the value of MicroStrategy’s Bitcoin holdings above $5.8 billion. The rally has resulted in over $1.2 billion in unrealized profit for the company and its CEO Michael Saylor.

Galaxy Digital founder Mike Novogratz has told investors that 2024 will be headlined by institutional adoption of cryptocurrencies driven by the pending approval of Bitcoin (BTC) spot exchange-traded funds (ETFs).

Bitcoin (BTC) faces a “torrent” of institutional inflows in the run-up to a United States exchange-traded fund (ETF) approval.

Dogecoin, Chainlink, Polygon, Polkadot and Shiba Inu were also trading over 4% higher. Meanwhile, during this rally, the global cryptocurrency market cap increased 3.26% to around $1.37 trillion in the last 24 hours. «Bitcoin is trading above the $36,000 threshold as market participants await word on the Bitcoin Spot ETF applications from the US Securities and Exchange Commission (SEC). The SEC now has an eight-day period starting today, where all 12 spot bitcoin (BTC) ETF applications could be approved. Otherwise, market participants will have to wait till early 2024 for updates from the SEC,» said Edul Patel, CEO of Mudrex. Market sentiment is presently bullish as investors await more information. Notably, Bitcoin’s price has grown by over 115% from the beginning of the year, Edul said.

Binance’s dominance of Bitcoin futures open interest has been toppled by traditional derivatives market place heavyweight Chicago Mercantile Exchange (CME), following Bitcoin’s first move past the $37,000 mark in over 18 months.

XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. Bitcoin was up 1.12% at $35,308 as of 12:05 p.m., while Ethereum was below the $1,900 level. Other popular altcoins, including Solana and Toncoin, rose up to 9%. While BNB fell 2.4% and Polkadot dropped 8%. «Bitcoin is currently trading near the $35,300 mark, while altcoins like Solana and Toncoin have surged by more than 6% and 11%, respectively. This recent price action has pushed the total cryptocurrency market's value to a 16-month high of 1.34 trillion dollars. To maintain its momentum, Bitcoin will need to breach the $35,700 threshold; otherwise, it may find support around the $34,200 mark,» said Edul Patel, CEO of Mudrex.

With the Kaspa price hitting another all-time high earlier today, Kaspa (KAS), along with Illuvium (ILV), Mina Protocol (MINA), Bitcoin ETF Token (BTCETF), and Meme Kombat (MK) are currently among the top picks as the best crypto to buy now.

In a report published Wednesday, JPMorgan analysts cast doubt on the sustainability of the latest bitcoin rally, stating that the sharp gains look ‘overdone’ relative to the cryptocurrency’s underlying fundamentals.

Bitcoin (BTC) may have tapped $37,000 for the first time in 18 months, but traders are getting suspicious of BTC price action.

Bitcoin (BTC) has surpassed the $37,000 mark for the first time in 18 months as the wider markets reflect optimism over the pending approval of spot BTC exchange-traded funds in the United States.