Analysis

Crypto exchange-traded funds (ETFs) witnessed a second consecutive week of inflows, totaling $321 million, per CoinShares weekly report on Monday.

Bitcoin (BTC), the world’s largest cryptocurrency, has rallied over 22% in the past two weeks to trade at around $63,200, following a significant drop to $52,000 on September 6. This is the highest level BTC has reached in almost two months.

An analyst has explained why Bitcoin could end the year 2024 inside the $108,000 to $155,000 range if history repeats for the asset.

TradingKey - Last Friday, the U.S. Securities and Exchange Commission (SEC) approved BlackRock's Bitcoin Spot ETF (IBIT) options, fueling bullish sentiment across the market. Institutions such as Bloomberg and Bitwise Alpha have expressed optimism about the development.

Bitcoin (BTC) and Ripple (XRP) have stabilized around their key support levels and positioning for potential rallies.

An executive of Standard Chartered, Geoffrey Kendrick, has drawn attention in recent days in finance circles with an extremely vivid declaration that Bitcoin may reach $200,000 at the end of 2025.

Bitcoin price extended its increase above the $60,500 level. BTC was able to clear the $61,200 and $61,500 resistance levels to move into a positive zone.

Donald Trump became the first former US President to use Bitcoin (BTC) for a commercial purchase when he completed a cryptocurrency transaction to pay for hamburgers at a New York City bar before a campaign rally.

Bitcoin continues to show bullish strength, trading at $63,006, reflecting a 5.6% increase over the past 24 hours.

According to the Financial Times, the Swiss stock exchange SIX, the third largest in Europe, is exploring the possibility of launching a new Bitcoin and crypto exchange in the country, aiming to position itself to compete with exchanges like Binance, OKX and Coinbase. 

As BlackRock expands its presence in the cryptocurrency space with the launch of Bitcoin and Ethereum exchange-traded funds (ETFs), the asset manager has released a comprehensive Bitcoin paper that outlines BTC’s importance and its broader impact on the financial landscape.

An analyst has explained how Bitcoin will likely continue the latest bullish swing, at least in the short-term.

Bitcoin price remained supported above the $58,500 level. BTC formed a base and started another increase above the $60,000 resistance zone after the Fed surprised with a 0.50% rate cut.

Bitcoin (BTC) could be gearing up for a new All-Time High (ATH) this year if it breaks through key resistance levels at $60,000.

Bitcoin’s price rose on Wednesday in anticipation of an interest rate cut by the Federal Reserve, while data showing an improvement in capital flows into spot exchange-traded funds also aided sentiment.

Bitcoin has long been characterized by its cycles of bull and bear markets, each marked by the trajectory of its price movements. However, the crypto appears to be in a transitional phase, according to a CryptoQuant analyst under the pseudonym CryptoHell.

As the world’s largest asset manager and issuer of crypto ETFs, BlackRock, solidifies its foothold in the industry, the firm’s Head of Digital Assets, Robbie Mitchnick, recently made interesting statements on key issues regarding BlackRock’s position and vision of the financial landscape. 

BlackRock, the prominent American multinational investment management corporation, has once again emphasized the enduring belief surrounding the Bitcoin potential as a strategic asset.

Bitcoin’s market is experiencing a surge in positive sentiment, with enthusiasm from crypto enthusiasts reaching a new height as the largest digital asset undergoes a brief price recovery, raising the possibilities for more price growth in the short and long term.

Bitcoin continues to show volatility in the market, with bulls slowly gaining momentum, but key resistance levels remain a challenge.