Bitcoin Financial News

(Reuters) — Bitcoin rose 5% to $44,083 at 2149 GMT on Tuesday, adding $2,098 to its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is up 66.1% from the year's low of $26,533 on Oct.

The Bitcoin (BTC) melt-up has continued on Tuesday, with the BTC price briefly hitting $44,000 before pulling back to the upper $43,000s, taking its run of gains since last Friday to around 15%.

As institutions regain interest in both Bitcoin (BTC) and Ethereum (ETH) as investment assets, they’re also exploring how the blockchain can redefine how finance is done using traditional assets.

Bitcoin, currently standing as the premier cryptocurrency, has witnessed a remarkable surge, pushing its price to a striking $41,765. Accompanied by a substantial 24-hour trading volume of $27 billion, Bitcoin has experienced an impressive upswing of nearly 6% in the last day alone.

Tuesday, December 5, 2023 – Crypto markets are flourishing as Bitcoin hammers-up to an 18-month high, and with BTC on course to hit $50k soon, investors are racing to participate in the Bitcoin ETF ($BTCETF) token presale.

Bitcoin is once again having a moment

Wall Street is hanging near its 20-month high after a mixed set of reports kept questions alive about whether the U.S. economy can pull off a perfect landing that kills high inflation and avoids a recession

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

The bullish drive of institutional investors in recent weeks can be seen across several market metrics as digital assets soar to levels not recorded in months.

Grayscale, a prominent name in the crypto investment sphere, recently made waves with its update on the approval status of the Grayscale Bitcoin Trust’s (GBTC) Spot Bitcoin ETF. This long-awaited development has sparked anticipation and excitement. Meanwhile, Ethereum (ETH) and Everlodge (ELDG) are seeing price surges. Let’s discover why.

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The digital asset market recorded an 11% uptick last month with Solana (SOL) and Chainlink becoming the top-performing assets as decentralized finance (DeFi) volumes surge, a new report shows.

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The recent surge in Bitcoin (BTC) price could be the beginning of a new crypto supercycle that propels the world’s largest cryptocurrency to an astonishing $500,000. 

BNB (0.8%), Avalanche (2%), and Polkadot (0.1%) were trading in the green, while Ethereum (-0.45%), XRP (-1.8%), Solana (-6.9%), Cardano (-0.6%), Polygon (-3.2%) and Dogecoin (-0.3%) were trading in the red. However, the global cryptocurrency market cap surged by 0.44% to around $1.55 trillion in the last 24 hours. At 11.30 a.m., BTC was trading 1% higher at $41,900. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, surged to $819 billion. «Speculation around an impending approval of Bitcoin spot ETF has fueled the asset into a 19-month high near $42,000. While BTC encounters strong resistance at this level, once breached, there is a clear path to $48,000 in the upcoming weeks,» said Vikram Subburaj, CEO of Giottus Crypto Platform.

Taiwan’s Financial Supervisory Commission (FSC) is exploring the possibility of introducing cryptocurrency exchange-traded funds (ETFs).

BlackRock and Bitwise have recently updated their filings for spot Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). These frequent amendments may signal pivotal progress.

Bitcoin shrugged off a slide in global markets during a rally to a more than 19-month high, a sign of its decoupling from other assets. The token jumped 5.8% to scale $42,000 on Monday and was just below that level in morning Asian trading on Tuesday. In contrast, gauges of global shares and bonds are nursing losses since the start of the week. “This divergence underscores the current low correlation of crypto with other traditional macro assets,” Sean Farrell, the head of digital-asset strategy at Fundstrat Global Advisors LLC, wrote in a note. Bitcoin’s correlations with the likes stocks and gold have ebbed in 2023 as crypto-specific factors helped to spur a 152% climb in the largest digital asset. A key driver of the gains is the expectation that the US will allow its first spot Bitcoin exchange-traded funds, potentially widening demand for the token.

In a remarkable milestone, Bitcoin has surged to a trading value of $41,740, marking a 2.75% increase on Tuesday. This notable upswing sees the cryptocurrency breaching the $42,000 threshold for the first time since April 2022, a significant moment that underscores the growing mainstream acceptance and resilience of Bitcoin.

Tether, the company behind the world’s largest stablecoin, has witnessed a significant increase in the value of its Bitcoin (BTC) reserves, surpassing $1 billion in profit.

Ethereum Cooperatives recently unveiled the Ethereum Classic contributions app in a bid to increase the information on the platform. Meanwhile, SHIB is now listed on Plena, which has sparked some excitement in the community. Nonetheless, while these other altcoins experience major developments, market experts are turning towards Rebel Satoshi’s $RBLZ because of its impressive offering. Read more to find out why!