Crypto Market Amidst the current state of the cryptocurrency market, Bitcoin is currently trading at $26,350, while ETH is at $1,620, reflecting a slow summer transition into the early weeks of September in terms of price action. The Bitcoin market is currently abuzz with anticipation surrounding the potential introduction of a Bitcoin spot ETF in the United States. Notably, analysts from Bloomberg, Eric Balchunas and James Seyffart, have assigned a 75% probability to a spot Bitcoin ETF launching this year, with expectations of a 95% likelihood by the end of 2024, garnering significant industry attention. Decision dates for Bitcoin spot
Crypto At the time of writing, Bitcoin is trading at $25,900 and Ethereum is trading at $1,650. Over the last week, crypto markets saw a relatively large sell off which saw Bitcoin fall by 7.33% in a single day, triggering the largest liquidation event since the collapse of FTX in November of last year. The move wiped out approximately $1 billion of long positions and came after weekly volatility reached one of its lowest points in history. A large move was expected for sometime, but the direction of the move was unclear. Following the crash, the Daily RSI, a measure
At the time of writing Bitcoin is trading at $29,650, Ethereum is at $1,885 and XRP is at $0.728. As we near the halfway point of summer, when we look back at this period of crypto, it will be easy to say that price action was boring and volumes were low.
Crypto At the time of writing, Bitcoin is trading at $30,000 USD and Ethereum is at $1,850 USD. The talk of the market over the last 2 weeks has been all about the BlackRock Bitcoin Spot ETF Filing and the wave of other ETF applications that quickly followed. Sentiment in the market seems to have turned positive, and for good reason. A Spot Bitcoin ETF would provide a way for true institutional investors to gain access to Bitcoin. Risk mandates and regulatory uncertainty have prevented them thus far. The ETF comes at a time when the Bitcoin held on exchanges
Crypto At the time of writing, Bitcoin is trading at $25,000 USD and Ethereum at $1,640 USD. Since we last wrote, Bitcoin has fallen slightly below its 200 week moving average, but we have yet to see the volatility outbreak that markets have been anticipating on the weekly time frame. Investors will want to see support in the $24,000 to $25,000 range if we want to see more upwards price movement. Sentiment in the market has taken a bit of a blow in recent weeks since the SEC announced lawsuits against Binance and Coinbase claiming that each exchange has been
At the time of writing, Bitcoin is trading at $26,750 USD and Ethereum is at $1,860 USD. Last week, crypto prices continued to trade in their sideways range as they have for the past several weeks since the collapse of Silicon Valley Bank. The ranging price action and low volume is a symbol of short-term traders unsure of what direction the market is headed. However, this is also a reflection of a seasonal trend as the old “Sell in May” saying tends to be a common theme amongst traditional crypto investors as they prepare for summer vacations. Nevertheless, Bitcoin and the rest of the market are poised for a big move in either direction as the Weekly Bollinger Bands, a measure of volatility, has tightened up to a point that has not been seen since November 2022, when the market fell 22% in a week on the back of the FTX collapse.
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At the time of writing, Bitcoin is trading at $27,280 USD and Ethereum at $1,854 USD.
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On May 22nd, 2010, a programmer named Laszlo Hanyecz made history by completing the first-ever real-world transaction using Bitcoin. He purchased two Papa John’s pizzas for 10,000 BTC, marking the beginning of the use of cryptocurrency for real-world items. Today, Bitcoin Pizza Day is celebrated by cryptocurrency enthusiasts to commemorate this significant event in the history of Bitcoin. The Birth of Bitcoin Pizza Day Bitcoin was first launched in 2009. However, at the time, it was not widely accepted as a medium of exchange, and its value was negligible. It was mainly used for experimentation and testing by a small