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The Bitcoin price has climbed 1.2% in the last 24 hours to trade at $96,842 as of 9:05 p.m. EST on a 21% jump in trading volume to $74 billion. Bitcoin Price Continues The Uptrend Along The Parabolic Curve Bitcoin price action on the daily chart shows a strong bullish momentum, highlighted by a parabolic curve that began in late October. This curve reflects rapid price acceleration, a hallmark of intense buying activity during bull runs. Currently, Bitcoin is trading at $96,410, with an intraday high of $97,351. The next significant resistance lies at the $100,000 psychological level, a critical area that could trigger profit-taking or a temporary reversal if buyers fail to maintain momentum. BTCUSD Analysis Source: Tradingview A golden cross is present on the chart, with the 50-day moving average ($78,924) crossing above the 200-day moving average ($66,876) in late October. This is a historically bullish signal, indicating the potential for further upside. The steep upward...

The US dollar index has risen to its highest since July, sitting at 105 at press time. The valuation uptick strengthening the dollar index is the result of the euphoric election win that crowned Donald Trump as the 47th US president. Trump has made rather bold statements during his electoral campaigns concerning the dollar and crypto, which have now started to pump, in hopes that Trump’s regime would shelter their sectoral liberty. Also Read: Dogecoin (Doge) & Shiba Inu (SHIB) Price Prediction For Mid November 2024 US Dollar Claims A New Value Peak Image Source: Watcher Guru The US dollar index, a marker that compares the USD with other currencies, is currently sitting at a high peak point of 105. This roughly translates to the strengthening of the US dollar against a basket of currencies, including the Euro and Yuan, which have given stiff competition to the dollar as of late. The dollar index is at its strongest since July 2024 as a result of Trump’s iconic election win. I...

Bitcoin reached a high of $75,317 in the early hours of this morning In September, Bernstein analysts predicted Bitcoin to reach between $80,000 and $90,000 by the end of 2024 if Trump won Unity’s COO said to Coinjournal said it was “disingenuous” to say Trump winning the US election was the sole reason Bitcoin’s price went up Bitcoin rose to a record high of over $75,000 early this morning as voting results signalled a Donald Trump win for the White House. Data from CoinMarketCap shows Bitcoin achieved a high of $75,317 around 6:25 this morning. Before the election results started coming in last night, Bitcoin was trading at around $69,000. However, as the evening progressed and into the early morning, Bitcoin continued an upward trajectory before reaching its new all-time high. Bitcoin’s last all-time high took place in March when it reached $73,000. Bitcoin’s all-time high of over $75,000. Source: Coinmarketcap ...

Large and small-cap altcoins are flashing bullish signs as Bitcoin price holds above $37,000. Bitcoin (BTC) is on target to end the week with gains of about 6%, indicating continued demand from the bulls. MicroStrategy co-founder Michael Saylor said during a speech at the 2023 Australia Crypto Convention on Nov. 10 that Bitcoin’s demand on a monthly basis could surge between two to 10 times by the end of 2024. Additionally, the halving will reduce the supply by half. Saylor expects both these events will cause the price “to adjust up.”  With almost a general consensus that Bitcoin’s price will move higher in 2024, analysts are busy projecting how high the rally could reach. Using its Terminal Price on-chain indicator, Look Into Bitcoin creator Philip Swift said that Bitcoin could hit at least $110,000 in its next bull cycle. Crypto market data daily view. Source: Coin360 While Bitcoin continues to hog the limelight, several major altcoins have been charging higher. The broad-based cr...

Galaxy Digital founder and CEO Mike Novogratz says approving a Bitcoin spot ETF is not “a matter of if but when,” which will drive institutional investment in the sector. Galaxy Digital founder Mike Novogratz has told investors that 2024 will be headlined by institutional adoption of cryptocurrencies drive n by the pending approval of Bitcoin (BTC) spot exchange-traded funds (ETFs). During Galaxy Digital’s third-quarter earnings call on Nov. 9, Novogratz highlighted the firm’s belief that approving several ETFs “is now not a matter of if but when." The fund manager filed its spot Bitcoin and Ethereum (ETH) ETF applications with the U.S. Securities and Exchange Commission (SEC) in partnership with Invesco in Q3 2023. Related: Bitcoin briefly tops $37K amid market optimism for pending spot ETF approvals Investors' sentiment has turned bullish in Nov. 2023, with prominent ETF research analysts predicting the SEC will begin approving 12 major Bitcoin spot ETF applications by J...

Bitcoin’s break above $32,400 points to the continuation of the bull move, but will traders be able to sustain the current momentum? Bitcoin (BTC) easily soared above the $31,000 to $32,400 resistance zone on Oct. 23, which came as a suprise to many market participants. Usually, the price tends to consolidate or hesitate near stiff overhead resistance levels but that was not the case this time around. Market participants are bullish as they anticipate a Bitcoin spot exchange-traded fund to receive approval sooner rather than later. Bloomberg ETF analyst Eric Balchunas said in a post on X (formerly Twitter) on Oct. 23 that the listing of BlackRock’s spot Bitcoin ETF on the Depository Trust & Clearing Corporation (DTCC) was “all part of the process” of bringing the ETF to market. He added that it was “hard not to view this as them getting signal that approval is certain/imminent.” However, a DTCC spokesperson later said that the listing of the said ETF has been there since August an...

This week’s episode of The Market Report discusses the spot Bitcoin ETF that just launched in Europe and why the U.S. still lags behind. In the latest episode of Cointelegraph’s  The Market Report , analyst Marcel Pechman discusses the first spot Bitcoin exchange-traded fund (ETF)  approved in the European Union, which went live on the Euronext Amsterdam exchange on Aug. 15. Despite the seemingly unconventional choice of the Guernsey regulator for its constitution, the fund’s listing on Euronext suggests a strategic maneuver, though its meager 1 million euro launch and unfamiliar management casts a shadow over its appeal. Moving on, Pechman shifts focus to the United States Bitcoin ETF landscape, where the Securities and Exchange Commission (SEC) has once again delayed its decision on approving a spot Bitcoin (BTC) ETF, setting a potential deadline for early 2024. This recurrent cycle of postponements echoes the challenges faced over the past decade. The lack of regulatory clarity in...

Samson Mow, the CEO of Jan3, spoke with Cointelegraph about the current state of Bitcoin and why he’s bullish for the future. In recent weeks, the cryptocurrency market has faced bearish trends, driving crypto market capitalization down to its lowest level in over two months. However, according to some market analysts, Bitcoin (BTC) and other altcoins are still resilient despite the overall market climate. But, it’s not only the market analysts still holding onto the bullish sentiment. At the BTC Prague 2023 conference, Jan3 CEO Samson Mow spoke with Cointelegraph about how he sees the current state of the Bitcoin market and why he’s bullish for the near and long-term future. Cointelegraph reporter Joe Hall with Jan3 CEO Samson Mow. Source: Cointelegraph In terms of price, Mow said that anything under $30,000 is “massively undervalued” and bound to make a rebound sometime soon. The last time BTC hit that price point was in April 2023, for the first time in 10 months. Nonetheless, Mow ...

Bitcoin analysts are gearing up for a break toward the $30,000 mark, but what will BTC price action offer in the coming days? Bitcoin (BTC) starts the second week of June in familiar territory, but a breakout is coming, investors say. After a calm weekly close, BTC/USD is firmly in its established trading range, while under the hood, market participants are preparing for some dramatic shifts. It has been a long time coming, and for seasoned traders, the signs are increasingly pointing to volatility making a comeback. There is little by way of macroeconomic triggers due this week, making the focus shift elsewhere for cues as to what BTC price action might do in the short term. The on-chain Analysis provides other interesting insights, reinforcing the idea that for Bitcoin currently, the only “boring” part is the spot price. Cointelegraph takes a look at the key factors at play as BTC/USD hovers around $27,000 for another week. Weekly close preserves key trend line BTC/USD may not have...

Inflation and a tight job market may push US Federal Reserve to continue hiking rates. Fed Chair Jerome Powell’s speech last week failed to give a clear direction. Moreover, Dallas Fed President Lorie Logan, Fed Governor Philip Jefferson, New York Fed President John Williams, Federal Reserve Board Governor Michelle Bowman, and others agree with raising interest rates further. advertisement US Fed to Likely Raise Interest Rates Over 6% Federal Reserve Bank of St. Louis President James Bullard on May 22 said the central bank will need to raise interest rate s twice this year before a pivot. The Federal Open Market Committee has raised rates aggressively to a range of 5% to 5.25%. Meanwhile, Minneapolis Fed President Neel Kashkari also believes raising interest rate s over 6% to curb inflation. He said even if Fed skip the rate hike in June, it shouldn’t be considered as a pause or a pivot as inflation has not reached the target. “I think right no...

1 million Bitcoin wallets now have a balance of 1 BTC or more, but the real magic is yet to come, says Adam Back. Bitcoin (BTC) has crossed a significant threshold this month — and while it does not involve price, it does involve “ million s.” Data from on-chain analytics firm Glassnode confirms that as of May 18, there are over one million addresses which hold at least 1 BTC. Back: Adoption trend lays path to "hyperbitcoinization" It was a long time coming and received much attention on social media, and the time is finally here — there are one million entities which own a whole bitcoin . These “wholecoiners” have been steadily accruing since mid-2021, Glassnode shows, and the upward trend in 1 BTC wallets has seen almost no reversal since. In 2022, however, the trend accelerated, having started the year with 814,000 wholesalers and finishing it with 978,000 — an increase of 20%. Reacting, Adam Back, CEO and co-founder of Bitcoin firm Blockstream, made the case for “hype...