Bitcoin ETFs experienced a pre-market surge, with BITB, ARKB, GBTC, FBTC, and IBIT all showing gains. This upward trend occurred despite Federal Reserve Chair Jerome Powell stating the central bank won’t own Bitcoin. Bitcoin’s price remains above $100,000, fueled by optimism about pro-crypto policies. However, legislative proposals for a Bitcoin reserve might face opposition from the Fed.
Bitcoin’s meteoric rise above $100,000 has catapulted the infamous ‘Bitcoin Pizza’ transaction into the billion-dollar realm, highlighting the cryptocurrency’s incredible growth and the lucrative potential for early investors.
US-listed Bitcoin miners experienced a blockbuster November, with their aggregate market cap soaring 52% to $36.2 billion, significantly outperforming Bitcoin’s own price increase. This surge was driven by Bitcoin’s record highs and the strong performance of companies with significant Bitcoin holdings, highlighting the sector’s potential and the challenges posed by the upcoming halving.
Bitcoin long-term holders are realizing record profits, exceeding $2 billion daily, according to Glassnode. This unprecedented surge raises questions about market sustainability as Bitcoin approaches $100,000, with analysis revealing a mix of strategies among investors.
Bitcoin and other leading cryptocurrencies experienced significant dips Tuesday, fueled by profit-taking from long-term investors. While sell-offs were substantial, analysts point to potential bullish indicators and ongoing institutional buying, suggesting a possible rebound.
After the recent Bitcoin halving, the cryptocurrency market has experienced volatility, with numerous altcoins recording losses on Wednesday, April 24. Bitcoin dipped by 0.56% to trade at $65,693, while Ether declined by 1.79% to $3,037. Other affected currencies include Tether, Ripple, Dogecoin, Shiba Inu, Avalanche, Polkadot, Chainlink, Near Protocol, Cronos, Stellar, and Cosmos.
