Bitcoin (BTC) surged to an unprecedented peak this Monday, hitting $72,710.68, as per data from CoinGecko. Holding firm above the $70,000 mark, The price of BTC in the stock market has surpassed a daily close of $72,000.
Rekt Capital, a trader on X (previously Twitter), notes that each time Bitcoin surpasses its previous all-time high, it heralds the onset of a bull market, typically followed by a peak within the subsequent 266 to 315 days.
"Bitcoin reached a new all-time high last week. Next Bull Market peak may thus occur in 266-315 days. That’s December 2024 or February 2025," they stated.
Eric Balchunas, an ETF analyst at Bloomberg, noted the remarkable performance of the first two months of trading for the 10 BTC exchange-traded funds (ETFs) in the US. These ETFs now boast over $55 billion in assets and a trading volume of $110 billion, a feat Balchunas finds astonishing for just an eight-week period.
Balchunas highlighted that BlackRock's IBIT and Fidelity's FBTC rank as the third and fourth-largest ETFs by year-to-date flows, showcasing significant investor interest.
MicroStrategy made waves by announcing the purchase of an additional 12,000 BTC at an average price of $68,477, further bolstering its substantial BTC holdings to 205,000.
US-based Bitcoin ETFs see robust capital inflows of $257.3 million, signaling renewed investor interest. Notable providers like Grayscale and BlackRock report positive inflows, reflecting a bullish sentiment. Debates on transparency and market manipulation resurface amidst BTC's stability at $66,109.
Xu LinCryptocurrency market bounce aligns with stablecoin market cap growth, signaling increased industry inflows. Recent plateau suggests stagnant sentiment. Future stablecoin trends may offer insights into broader market direction.
Huang BoBitcoin remains stable above $66,000, with significant whale accumulation indicating bullish sentiment. Large investors acquire over 3400 BTC, fueling anticipation of a price rally. Market sentiment suggests increased demand from whales may drive upward movement. Despite subdued trading, the positive trend in the U.S. Spot Bitcoin ETF boosts investor confidence.
EdmundBitcoin surged to $66,000 but faces potential correction with 18,000 options expiring today. Max Pain at $63,000 suggests price pressure. Despite softer CPI data, demand for short-term downside protection remains. Long-term outlook optimistic, with growing institutional involvement, especially with CME Group's Bitcoin spot trading introduction.
Xu Lin600 companies invest $3.5 billion in spot Bitcoin ETFs via SEC filings. Major players include Morgan Stanley and Millennium Management. Despite recent decreases in inflows, demand remains strong among financial institutions.
Huang BoBitcoin's correlation with US stocks rises, indicating market shift. Despite economic uncertainties, Bitcoin rebounds, outpacing S&P 500. ETF inflows signal investor interest. Whale activity decline noted, but could signal bullish trend if reversed.
EdmundOn May 15, US spot bitcoin ETFs saw robust performance, accruing $303 million in gains over three days. Blackrock's IBIT observed zero inflows, while Grayscale's GBTC recorded $27 million inflows. FBTC led with $131 million inflows, emphasizing a competitive landscape among ETFs.
Xu LinWhale loses 1,155 BTC ($71M) in sophisticated hack, highlighting crypto security risks. Hacker exploits phishing tactic, underscores importance of offline key generation, hardware wallets, and cautious transaction practices. Tips include verifying addresses, conducting test transfers, and exploring multi-signature methods for added security.
Huang BoToncoin [TON] emerges as strong competitor to Bitcoin [BTC] in Layer 1 Network. Toncoin outperforms BTC with 160% gain, higher active addresses. Despite surge, trader sentiment sours, contrasting Bitcoin's positive sentiment.
EdmundBracebridge Capital invests $363 million in Bitcoin ETFs, joining institutional trend. Wisconsin becomes first local government to disclose Bitcoin investment. Major institutions like JPMorgan, Wells Fargo, BNP Paribas, and BNY Mellon also enter crypto space.
Xu LinKeep this in mind when turmoil intensifies and the narrative of Bitcoin as a currency begins to form.
JinseFinanceThe Web3 Foundation, an organization that continues to explore and promote the development of blockchain technology and decentralized applications, officially announced the launch of its decentralized future plan. At the same time, this move also officially sounded the clarion call for Polkadot to move towards a new future.
JinseFinanceBitcoin is an ultra-secure asset. As an ultra-safe asset, Bitcoin’s supply curve is closer to the inelastic level (S0) than every other known commodity and monetary good!
JinseFinanceBitcoin's price has been soaring since its launch in 2008. Early investors are now reaping returns in the millions of dollars. Nevertheless, its volatility and regulatory uncertainty remain significant risks for investors.
BerniceRecent data challenges the de-dollarization narrative as the U.S. dollar strengthens in international transactions and maintains its share in reserves. This resilience may impact alternative assets like Bitcoin.
Huang BoMATIC, the native cryptocurrency of Polygon, has recently gained traction, showing a 50% increase in price surge in the last 20 days, amid the optimistic trend circling the cryptocurrency market due to the recently finished Uptober rally.
BitcoinworldBitcoinworldOne filing also alleged that Bahamian regulators asked Sam Bankman-Fried to gain unauthorized access to funds.
BeincryptoThe Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty.
CointelegraphThe U.S. dollar currency index breaks through resistance to hit its highest level since 2002 — to the detriment of practically everything.
Cointelegraph