Bitcoin Price Financial News

The bullish momentum that propelled Bitcoin (BTC) price to a year-to-date high continues into its third week as the price presses toward the $35,000 handle. 

Bitcoin (BTC) starts a new week at comfortable highs as traders square off over BTC price action to come.

cryptocurrency market cap surged 0.77% to around $1.27 trillion in the last 24 hours. Bitcoin was up 1.47% at $34,626 as of 12:30 p.m., while its largest peer, Ethereum, surged 1.4% to above the $1,800 level. The consistent gains registered by BTC have overshadowed the price action of ETH and other major altcoins. This has led to BTC dominance hitting a new 30-month high of over 54%; the highest since April 2021. However, as investors become comfortable with the risk curve during this market phase, altcoins may see an uptick in investor interest, leading to a correction in BTC dominance, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures. Other popular altcoins, including Dogecoin and Shiba Inu, rose over 6% each. Also, Cardano, Solana, Polygon, Polkadot, Litecoin and Toncoin surged.

Hopes of approval for a spot Bitcoin (BTC) exchange-traded fund by the United States Securities and Exchange Commission boosted Bitcoin’s price by 27% in October. This improved sentiment, attracting aggressive buying by crypto investors.

Bitcoin (BTC) institutional investment vehicles are seeing a major volume boost as excitement over possible United States regulatory changes takes hold.

The crypto market continues its uncertain direction on shaky ground with Bitcoin struggling to maintain $34,000. For investors seeking Bitcoin alternatives, NEO, Conflux, Render, Bitcoin Minetrix, and Meme Kombat present potential avenues as leading contenders for the best crypto to buy now.

The Bitcoin price

Bitcoin (BTC) surfed $34,000 at the Oct. 27 Wall Street open as attention turned to BTC price performance against macro assets.

Bitcoin’s (BTC) rise to as high as $35,000 this week has also lifted a number of memecoins, including Floki (FLOKI), which has beaten its top rivals in percentage gains.

Bitcoin (BTC) is due to finish 2023 as it started, on-chain analytics firm Glassnode said, as October gains near 30%.

Could Bitcoin (BTC) be headed for an imminent pullback? Some crypto market observers believe the answer could be hiding within the price action of a frog-themed memecoin.

Bitcoin (BTC) fell below $34,000 after the Oct. 26 Wall Street open as consolidation at 17-month highs continued.

Google searches for “buy Bitcoin” have surged worldwide amid a major crypto rally, with searches in the United Kingdom growing by more than 800% in the last week.

Bitcoin (BTC) is on track to hit $45,000 in November as part of a classic BTC price cycle, popular analyst CryptoCon said.

Bitcoin’s (BTC) market dominance has reached 54%, its highest in the last 30 months, indicating the top cryptocurrency is strengthening just before the halving event scheduled for April 2024.

Bitcoin rallying to an almost 18-month high on speculation that an exchange-traded Bitcoin fund is imminent. Bitcoin rose more than 6% to $35,198, its highest since May 2022. It surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global or bitcoin owner MicroStrategy rose in after-hours trade. Cryptocurrency ether broke above $1,800. An exchange-traded fund (ETF) owning Bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stock market.

Bitcoin (BTC) may reach new all-time highs by the end of next year, but crypto investors should brace themselves for a “chopfest” in the meantime, according to veteran trader and analyst Peter Brandt. 

With the cryptocurrency market seeing ongoing positive price movement, analysts highlight Conflux (CFX), Chainlink (LINK), Aptos (APT), Bitcoin Minetrix, and TG.Casino as potential picks for the best crypto to buy now.

According to a recent report by CoinShares published on Monday, crypto funds have posted a net inflow for the fourth consecutive week, totaling $179 million. While Bitcoin products grabbed the largest slice of the influx, Solana led in altcoin investments, creating a dynamic shift in digital asset inflows.

Bitcoin’s (BTC) price action is the talk of the town this week and based on the current sentiment expressed by market participants on social media, one could almost assume that the long-awaited bull market has started. 

Matrixport, a cryptocurrency trading firm founded by Bitmain co-founder Wu Jihan, has doubled down on its prediction that Bitcoin (BTC) will hit $45,000 by the end of 2023.