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Bitcoin hovers around $111K, Ethereum at $4,314. Here is what experts say
Economic Times
·
1d ago
Medial
Bitcoin is trading near $111,500 with low volatility, while Ethereum is at $4,309. Analysts predict a breakout following Federal Reserve and CPI updates. Bitcoin's range is one of its tightest, with volatility at multi-month lows, indicating tension ahead of September’s CPI and a US Fed decision. Analysts foresee a potential sharp market move, with investors holding positions instead of chasing gains. Ethereum's stability could reignite bullish momentum, despite recent outflows from ETFs due to seasonal weakness.
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Related News
Bitcoin trades flat at $110K. Analysts say recovery signs are supported by record-high hash rate strength
Economic Times
·
7d ago
Medial
Bitcoin is trading nearly flat at around $110,734, backed by a strong hash rate, although traders are wary of September's trends. Ethereum is gaining attention as its ETF inflows exceeded Bitcoin's in August, despite a $300M outflow. Market analysts highlight Ethereum-led momentum, with investors adjusting positions. Meanwhile, Bitcoin faces resistance at $112,600, yet shows potential for growth amid increasing institutional interest. Ukraine is advancing crypto legislation that could significantly impact its market.
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Bitcoin hovers near all-time peak as crypto draws record inflows
Money Control
·
1y ago
Medial
Bitcoin is surging towards its all-time high as a flood of capital pours into the cryptocurrency market and anticipation builds around the upcoming supply reduction. Last week, a record-breaking $2.7 billion was invested in crypto assets, with the majority going to Bitcoin. The launch of spot Bitcoin exchange-traded funds (ETFs) in the US has played a significant role in this momentum, attracting around $9.5 billion in net inflows so far. Market analysts predict further gains, with Bitcoin potentially reaching $80,000 in the coming months. The derivatives sector is also seeing increased demand, as demonstrated by the record number of outstanding contracts in Bitcoin futures.
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In bitcoin's shadow, another cryptocurrency, Ether, stages its own rally
Economic Times
·
1y ago
Medial
Ether, or Ethereum, the second-largest cryptocurrency by total value, has experienced a significant surge in recent weeks. Its rise has been attributed to the approval of bitcoin investment products, such as exchange traded funds (ETFs), which have attracted new investors. Additionally, expectations of a potential approval of an Ethereum ETF in the United States have further contributed to its performance. Furthermore, the upcoming major upgrade to Ethereum's technology, known as "Dencun," is anticipated to improve transaction processing and reduce costs, potentially unlocking further growth. Unlike bitcoin, Ethereum offers a broader range of use cases and has successfully navigated previous technical transformations. The Proof of Stake process used by Ethereum also provides additional benefits to its holders, such as earning interest. As a result, experts believe that Ethereum could potentially outperform bitcoin and even surpass its market capitalization.
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Crypto Price Today: Bitcoin in choppy trade, slips to 7-week's low. Is it time to buy the dip?
Economic Times
·
15d ago
Medial
Bitcoin experiences a slight dip, trading sideways near $1,11,375.99, hitting its lowest point in nearly seven weeks. The cryptocurrency is currently down over 10% from its record high. Profit booking also affected major altcoins like Ethereum and XRP, while Avalanche gained 0.2%. Experts suggest that Bitcoin faces short-term downside pressure but remains strong mid-term due to robust ETF flows. This dip might offer strategic accumulation opportunities for investors ahead of potential gains.
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Bitcoin at $110K: Analysts point to liquidity-driven upside momentum
Economic Times
·
9d ago
Medial
Bitcoin surged to $110,203, indicating potential upward momentum as liquidity and institutional interest build, according to analysts. However, market signals remain mixed with resistance at $110K and support between $105K-$108K. Ethereum saw losses, trading at $4,383. Whale activity suggests strong interest in Ethereum, influencing other altcoins positively. Despite fragile conditions and market caution, structural signals point to a resilient long-term outlook for Bitcoin, with a possible challenge to previous highs once demand steadies.
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Bitcoin holds above $114,000 amid cautious market sentiment; XRP, Solana fall up to 3%
Economic Times
·
1m ago
Medial
Bitcoin remains steady above $114,000 amid cautious market sentiment, facing resistance between $114,500 and $115,500. Ethereum slipped by 0.32%, with other altcoins like XRP and Solana also declining. The total global cryptocurrency market capitalization fell to $3.72 trillion. Institutional caution is evident, as Bitcoin ETFs recorded significant outflows, while Ethereum ETFs saw some inflows. Regulatory developments and macroeconomic factors contribute to market uncertainty, with Bitcoin needing to break $116,000 for a sustained bullish move.
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Bitcoin slips, holds $111,500 as key support amid investor caution
Economic Times
·
13d ago
Medial
Bitcoin is trading around $111,648, struggling to maintain momentum as gold's rally highlights a performance gap. Analysts note Bitcoin's 1.3% drop over the past week, underlining investor caution despite favorable macro tailwinds. On-chain data shows nearly 90% of Bitcoin's supply is profitable, marking potential cycle inflections. Analysts indicate support around $111,500 with renewal potential above $113,000. Meanwhile, cryptocurrencies like Ethereum and Solana exhibit growing altcoin interest, reflecting shifts in investor sentiment.
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Genesis gets court approval to sell $1.6 billion in crypto trust shares
Economic Times
·
1y ago
Medial
Genesis, the bankrupt crypto lender, has received permission from a U.S. court to sell around $1.6 billion worth of Grayscale cryptocurrency trust shares. This move is part of Genesis' effort to repay its creditors. The court approved the sale of shares in Grayscale Bitcoin Trust, Grayscale Ethereum Trust, and Grayscale Ethereum Classic Trust. Genesis aims to monetize its shares to repay customers and avoid monthly fees on its trust agreements. The decision overruled an objection from Digital Currency Group (DCG), Genesis' parent company. The court will further consider approving Genesis' bankruptcy plan on February 26.
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Ether fettered by fate of spot ETF proposals
Economic Times
·
1y ago
Medial
The second-largest cryptocurrency, ether, has struggled to keep up with the growth of bitcoin. While ether has seen an increase of around 53% in the first three months of the year, bitcoin has grown by 65%. Despite a recent technical upgrade, ether has not seen the same level of enthusiasm from investors as bitcoin. The approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission is seen as crucial for ether's future growth. However, there is uncertainty surrounding ether's legal status, and some believe the SEC will proceed cautiously. Nonetheless, there is growing interest in the Ethereum blockchain, which powers various applications in the crypto space.
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Investors count on blockbuster 2024 ahead of bitcoin halving
Economic Times
·
1y ago
Medial
Cryptocurrency investors are anticipating a significant year for crypto trading in 2024, with the listing of crypto exchange-traded funds (ETFs) and the upcoming Bitcoin halving day expected to drive a prolonged bull run. Indian investors are predicted to double their crypto holdings, currently valued at nearly $4 billion, as Bitcoin prices are projected to reach new all-time highs post-halving in April. Approval for Ethereum ETFs is also anticipated. The Bitcoin halving, occurring every four years, reduces the cryptocurrency's supply and historically leads to price surges. The next halving is expected in April 2024.
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