Bitcoin (BTC) surged once again this morning, reaching a peak of $64,267 around 08:45 AM, marking a new high for the year. Following a weekend of fluctuations around the $62,000 mark, Bitcoin continues to show strength, with a current price of $64,207, reflecting a 3.47% increase over the past 24 hours.
With Bitcoin surpassing $64,000 once again, data from Coinglass reveals that over the past 24 hours, the cryptocurrency market saw liquidations exceeding $300 million, leading to the liquidation of over 126,000 accounts.
Analysts attribute Bitcoin's recent surge to growing institutional interest and increased adoption as a store of value. Moreover, the approval of Bitcoin exchange-traded funds (ETFs) in some jurisdictions has further boosted investor confidence in the cryptocurrency market. While some remain cautiously optimistic, others warn of potential corrections due to overextended price levels.
In tandem with Bitcoin's rally, Ethereum (ETH) also saw significant gains, surpassing the $3,500 mark. Ethereum's rise is attributed to the growing popularity of decentralized finance (DeFi) applications and the upcoming transition to Ethereum 2.0, which promises improved scalability and efficiency. Despite concerns about gas fees and network congestion, investors remain bullish on Ethereum's long-term potential.
Furthermore, Bitcoin's surge was accompanied by a notable increase in trading volume, indicating heightened activity and interest from institutional investors. The influx of institutional capital into the cryptocurrency market signals a growing acceptance of digital assets as legitimate investment vehicles, further driving prices upwards.
The bullish momentum in Bitcoin and Ethereum has also spilled over to altcoins, with many experiencing significant gains. However, some analysts caution about potential risks associated with the current market dynamics, including the possibility of a market-wide correction as prices reach unprecedented levels.
After its attempts to convert Amazon and Microsoft, The National center for Public Policy Research is now coming for one of the biggest tech giants out there, Meta. But just like many of the other tech companies out there, Meta is saying no to the think-tank's proposal as this might harbour too much of a risk for the company in the long run.
XingChiJamie Dimon, CEO of JPMorgan, reiterated his skepticism about Bitcoin, calling it "useless" and without intrinsic value, while highlighting its use in illegal activities. Despite Bitcoin's rise in popularity, Dimon remains unconvinced of its legitimacy and long-term value in the financial landscape.
AnaisEl 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.
XingChiCZ, Justin Sun, Durov... Every founder of the crypto ecosystem has been swept up in the huge waves of the market, some have called the shots, some have been thrown into jail, some have changed their identities, and some have left their hometowns. The story of capital continues...
JinseFinanceThis article will sort out the ins and outs of MegaETH vs Monad, and introduce and analyze them respectively as well as our opinions on them.
JinseFinanceThe growth of liquid staking and re-staking, the emergence of spot ETH ETFs, regulatory developments around staking, and potential changes to validator and issuance dynamics present a complex and interconnected landscape.
JinseFinanceFranklin Templeton's plans to launch a Solana ETF highlight its commitment to expanding its digital asset offerings. By leveraging advanced blockchain technologies and aggressive market strategies, the firm aims to attract a broader range of investors and solidify its position in the evolving cryptocurrency market.
Huang BoWith a market cap of over $600 billion and a daily trading volume of $13 billion, Memecoin has enormous financial value.
JinseFinanceRecommended reading for this evening: 1. Development trends and future prospects of the Bitcoin ecosystem; 2. Chainalysis: Detailed explanation of the benefits, risks and operation of asset tokenization; 3. Bankless: Spark - Maker’s rising star in DeFi.
JinseFinanceIn recent years, Argentina's domestic economic situation has been poor and it has long faced hyperinflation. At the end of 2023, its inflation rate was as high as 211.4%, surpassing Venezuela's 193%, making it the country with the fastest currency depreciation in Latin America.
JinseFinanceParallel EVM demonstrates great potential in enhancing blockchain scalability and efficiency, marking a major shift in blockchain technology.
JinseFinanceStaked ETH withdrawals, scalability and more cool events are on the horizon for Ethereum.
CoindeskThe current estimated time for the Ethereum Merge is 2022-09-15 at 01:30 (UTC).
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