Analysts have raised their target for the ongoing Bitcoin bull market cycle to $200,000, citing a recent surge in price that breached the upper boundary of a 15-month trading channel. This adjustment reflects optimism about further growth in Bitcoin’s value. However, caution remains high as analysts warn of the cryptocurrency market’s inherent volatility and the potential for a reversal if prices dip below recent lows.
Bitcoin has scaled the ever-important $1 trillion market cap again, a feat last achieved in December 2021. This milestone catapults it ahead of financial giants like Walmart, Tesla, and even Berkshire Hathaway. However, experts caution that market cap might not paint the complete picture when valuing digital assets like Bitcoin.
Bitcoin ETFs allow holders to use Bitcoin as a collateral and gain access to credit and leverage in the traditional markets. The few billion dollars of liquidity that’s coming in today will be nothing compared to what’s coming when more institutions begin to understand this.
Founders Fund, led by tech investor Peter Thiel, reportedly invested $200 million in Bitcoin and Ethereum last year, a move suggesting continued belief in the potential of cryptocurrencies despite recent market downturns. This news could boost investor confidence, but caution and individual research remain crucial in the volatile crypto space.
The fledgling ERC-404 sector faces a harsh reality check as its market capitalization drops a staggering 29% in the last 24 hours,” according to data from Coingecko. Leading projects within the experimental Ethereum standard bear the brunt of the sell-off, with notable falls including PANDORA (down over 15%), DEFROGS (down over 22%), and RUG (down over 38%).
Launched by founders of defunct Three Arrows Capital, centralized exchange OPNX announces closure this month. Users advised to close positions and withdraw funds by February 14th. Founders reportedly shifting focus to new on-chain derivatives platform OXFUN.
The cryptocurrency market is witnessing a surge in institutional interest in Bitcoin, driven by the recent launch of nine new Bitcoin ETFs. These funds have collectively acquired a staggering 102,613 BTC within just seven days of trading, highlighting a rapid pace of accumulation that dwarfs even established players like MicroStrategy, which took 300 days to purchase over 100,000 BTC.
Bitcoin’s week has been a dizzying dance between skyrocketing ETF-fueled optimism and sudden sell-offs, leaving investors grasping for answers. While OTC trading hints at institutional excitement, regulatory shadows still loom, making the Bitcoin’s future a thrilling, yet uncertain, spectacle.
Wall Street vibrated with electricity today as Grayscale’s long-awaited Bitcoin ETF, GBTC, began pre-market trading on the New York Stock Exchange today, January 11. This historic event marks a pivotal turning point for both Bitcoin and the cryptocurrency industry, opening a new chapter of accessibility and potential mass adoption.
Hold onto your crypto wallets, because a groundbreaking moment is on the horizon! The Chicago Board Options Exchange (@CBOE) has just announced the imminent launch of Bitcoin Spot ETFs, set to commence trading tomorrow. This revelation has sparked widespread excitement within the crypto community, marking a significant milestone for Bitcoin and the broader cryptocurrency market.