Bitcoin saw a double rally today, pushing its price beyond $35,000 after an earlier surge past $31,000 on Monday morning, marking the highest point of the cryptocurrency in 2023.
Bitcoin Price Year to date
This sudden increase led to the liquidation of $114 million worth of Bitcoin shorts within the last hour, with a total of $145 million liquidated across the entire crypto market, as reported by CoinGlass.
In further developments, Bitcoin made a brief spike to over $35,000, experiencing a 15.85% increase within a short time frame. Meanwhile, Ethereum also demonstrated noteworthy growth, with its price surpassing $1,800 and currently sitting at $1,810.74, reflecting a 24-hour increase of 8.05%.
These back-to-back rallies are being linked to the growing anticipation surrounding the potential approval of Bitcoin spot Exchange-Traded Fund (ETF) applications by the U.S. Securities and Exchange Commission (SEC).
In recent developments, a judge in Washington, D.C. has officially instructed the SEC to reconsider Grayscale's long-pending spot Bitcoin ETF application, which had faced significant delays.
Additionally, BlackRock has updated its own ETF application, signaling its readiness to launch a Bitcoin spot ETF by allocating funds and securing a ticker symbol. While approval is not guaranteed, these actions indicate a certain level of confidence that the SEC might grant it.
El Salvador continues to buy Bitcoin, including a recent purchase of 11 BTC, increasing its total holdings to over 6,000 BTC. President Bukele has also expressed interest in acquiring Bitcoin seized by the U.S. government, further solidifying the country’s commitment to cryptocurrency.
AnaisAnalyst are speculating that with a little over a week before Donald Trump regains his title as the President of the United States, the outgoing Joe Biden administration might be desperate to to sell off all of the government-held Bitcoin to thwart Trump's plan of creating a Bitcoin reserve.
XingChiStandard Chartered has launched digital asset custody services in Luxembourg, focusing on Bitcoin and Ether, to cater to institutional investors in Europe.
WeatherlyA 24-year-old Dutch law student, once regarded as a crypto genius, was arrested this week after going into hiding after being harassed by investor. The man, who styled himself as a crypto banker, was pursued by his investors after his trading scheme collapsed, leaving around 300 people, including friends and family with losses totaling up to 4.5 million Euros.
XingChiThailand authorities broke into a Bitcoin mining farm in the wee hours of the night and confiscated nearly 1,000 Bitcoin mining machines during a raid on the site located in the Phanat Nikhom district of Chonburi.
XingChiGelephu Mindfulness City (GMC) in Bhutan has added Bitcoin, Ethereum, and Binance Coin to its strategic reserves to strengthen its economy and embrace digital assets. The move follows the introduction of new laws to regulate digital asset services and is part of Bhutan's broader strategy to expand its role in the cryptocurrency market.
AnaisA recent study found that most crypto advice on TikTok is misleading, with over half of videos promoting risky investments without proper warnings. Many influencers push specific coins, make unrealistic promises, and lack proper qualifications, putting viewers at high financial risk.
WeatherlyA Russian man was assaulted and robbed by a fellow country man at a luxury hotel in Thailand. During the assault, the victim suffered countless bruises and several blows to the head, some of which were so serious that it knocked him unconscious in the hotel room toilet. Luckily, the man managed to survive the attack but it left him $20,000 poorer.
XingChiMetaplanet aims to increase its Bitcoin holdings to 10,000 BTC by the end of 2025. The company grew its holdings from 225 to 1,761 BTC in 2024, using bond issuances for funding.
WeatherlyToday, marks the sweet 16th birthday of bitcoin, which was born on 3rd January, 2009. This pivotal moment marked the official launch of Bitcoin, the world’s first cryptocurrency, setting the stage for a financial and technological revolution that continues to influence the modern economy.
XingChiPAC has successfully gathered a total of $85 million in funding for pro-cryptocurrency politicians to date.
ZoeyNetflix director Carl Erik Rinsch diverts $4 million from Conquest series budget to invest in Dogecoin, yielding a $27 million windfall, prompting a $14 million dispute with Netflix.
JasperNotable investors, such as OKX Ventures, Oracles Investment Group, UOB Venture Management, and more, participated in this funding round.
CaptainXAccording to New Huo Technology, the amount would be used, if necessary, to settle customer liabilities and assets resulting from FTX's insolvency.
CryptoknowmicsThe project aims to create a “decentralized art ecosystem” using NFTs and complex tokenomics.
CoindeskBilly Markus, one of Dogecoin's co-founders, can't be bought with money - even if it's... say -- $14 million. Dogechain, ...
Bitcoinist
NulltxNulltxNulltxEthereum’s Ropsten testnet successfully integrated the merge to become proof-of-stake, but this hasn’t stopped traders from adjusting their downside price targets.
Cointelegraph