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.
"Bitcoin Jesus" Roger Ver has appealed to Donald Trump for help in avoiding extradition to the U.S. after being charged with tax evasion linked to cryptocurrency transactions. Elon Musk initially hinted at a possible pardon but later reversed his stance, while Trump has yet to comment on the matter.
JoyRoss Ulbricht, founder of Silk Road, was granted a full pardon by President Trump after 11 years in prison. He expressed gratitude for his release and is now focused on reuniting with his family and rebuilding his life.
JoyStandard Chartered encouraged investors to buy Bitcoin during price dips, projecting it could reach $200,000 by 2025. The bank attributed recent market corrections to regulatory uncertainty but expects institutional investments to drive future growth.
AnaisUsers of the Coinbase were enraged after they found themselves having to cancel their transactions or having to endure a never seen before waiting time for their transactions to be completed. Many have also blamed the outage as a result of coinbase's favoritism of Ethereum over Solana platform; and the outage was a direct result of Coinbase not providing inadequate support to the exchange
XingChiDonald Trump granted a full pardon to Ross Ulbricht, the Silk Road founder, after over ten years in prison. The pardon was announced on 22 January, fulfilling Trump’s campaign promise.
JoyAn Australian couple has made the local headlines by putting their home in Ballarat up for sale in a BTC only auction. The couple, Melissa Bower and Trudy Purcell initially wanted to renovate the old miners' cottage into something "magnificent", but it proved to be a harder task than the couple thought. But why did they choose Bitcoin specifically?
XingChiArthur Hayes is skeptical about Donald Trump's plan to establish a U.S. Bitcoin reserve, questioning its practicality and priority among other government needs. Despite Trump's past interest in crypto, Hayes believes the Bitcoin reserve is unlikely to happen, as other political concerns will take precedence.
JoyThe Trump administration omitted cryptocurrency from its priority list and inaugural speech, triggering an over 30% drop in Trump’s meme coin. While optimism persists, concerns over long-term support are growing.
CatherineBitcoin has hit a new all-time high of $109,000, driven by optimism ahead of President-elect Trump’s 20 January inauguration. As speculation grows over potential crypto-friendly policies, the question remains—can Bitcoin sustain its momentum and climb even higher?
KikyoA South Korean man, Lee, was sentenced to four years in prison for leaking military secrets to North Korean hackers in exchange for 14 Bitcoins, worth around $480,000. This breach, involving the recruitment of a military officer to provide classified documents, raised serious national security concerns.
AnaisCZ, 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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