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The Bitcoin price has climbed 1.5% in the last 24 hours to trade at $104,653 as of 8 p.m. EST on a 50% slump in trading volume to $47 billion. This comes as Nasdaq filed a request to the Securities and Exchange Commission to allow it to make in-kind redemptions for BlackRock’s iShares Bitcoin Trust (IBIT). JUST IN: BlackRock's Bitcoin ETF now allows in-kind redemption, enabling investors to exchange their shares for actual Bitcoin instead of cash. pic.twitter.com/3zeKqZj2Bp — Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) January 24, 2025 The move would let institutional investors trade IBIT shares directly for Bitcoin, enhancing efficiency and responsiveness to market demand. Retail investors, however, remain excluded from this process. Initially, the SEC required cash-only redemptions when approving spot Bitcoin ETFs, avoiding direct Bitcoin handling by brokers. BlackRock’s IBIT, now the largest spot BTC ETF, has attracted $40 billio...

The Bitcoin price jumped over 2% in the last 24 hours to trade at $94,204 as of 02:13 a.m. EST on trading volume that skyrocketed 163% to $72 billion. The crypto market recovered after its latest correction, which saw Bitcoin (BTC) drop below $90K in the last 24 hours. During this correction, BTC plunged to a 2-month low to $89,260.10, but has since bounced back. This pullback comes as JPMorgan Chase CEO, Jamie Dimon, continues to criticize Bitcoin. According to Dimon, Bitcoin itself has no intrinsic value.  In an interview with CBS News on Sunday, Dimon said, “It’s used heavily by sex traffickers, by money launderers, ransomware. So, I just don’t feel great about Bitcoin.” Jamie Dimon, CEO of America’s largest bank says: "You're going to have some kind of digital currency at one point. So I'm not against crypto. You know, Bitcoin itself has no intrinsic value. It's used heavily by sex traffickers, money launderers, ransomware." "So I just don't...

The Bitcoin price soared 3% in the last 24 hours to trade at $63,375 as of 00:50 a.m. EST even as trading volume tumbled 11% to $41.7 billion. This comes after the Bank of Japan (BOJ) left key interest rates unchanged at its September policy meeting, and indicated it’s in no rush to raise rates. Bitcoin Price Set For A Bullish Trend Continuation The Bitcoin price has recently capitalized on the cup and handle pattern to soar above the $63,000 level, according to data from GeckoTerminal . BTC has now surpassed both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the bullish trend. The Relative Strength Index also seems to be recovering above the 50-midline level, currently at 64, as it soars towards the 70-overbought region, showing that the token is currently under intense buying pressure. Moreover, the Moving Average Convergence Divergence shows that the Bitcoin price is currently on positive momentum. If this momentum continues, BTC could continue so...

The Bitcoin price tumbled 1% in the last 24 hours to trade at $56,141 as of 03:40 a.m. EST on trading volume that dropped 10% to $30 billion. This comes as the odds of Kamala Harris becoming the next president rose on betting platforms including Polymarket. Harris’ winning odds rose from 46% to tie with Trump at 49% after the debate. World's largest prediction market. Before the debate After the debate pic.twitter.com/p1KjOOFZU1 — i/o (@eyeslasho) September 11, 2024 Moreover, bettors on Polymarket indicate a 94% probability that Harris won the debate. Bitcoin briefly rose above the $58,000 market in the hours leading up to the debate, but dipped to lows of around $56,700 during the debate, and is now trading below $56,300. Bitcoin Price Aims For A Bullish Trend Reversal The Bitcoin price dropped from August 29 to September 7, as the bears took control of the price at the $61,100 resistance to drop to the $53,500 support, accord...

Bitcoin and select altcoins are looking strong at the start of October, but will the flashpan bullish momentum last? The United States legislators in the House and Senate came to a temporary agreement on Sep. 30 and averted a government shutdown for 45 days. This news could have acted as a catalyst for Bitcoin’s (BTC) sharp rally on Oct. 1. Additionally, the historically strong performance of Bitcoin in October could have boosted sentiment further. The U.S. stock markets are also in a sweet spot in October. Data from the Stock Trader’s Almanac shows that the S&P 500 Index (SPX) has risen by an average of 0.9% in October, between 1950 and 2021. However, it does not mean that the bulls can be carefree because the stock market weathered one of its worst declines in the Black Monday crash in October 1987. Daily cryptocurrency market performance. Source: Coin360 While a short-term up-move is possible in the cryptocurrency markets, it is unlikely to start a runaway rally. Higher levels ...

Bitcoin clinches a BTC price boost as the latest U.S. macro data flows in, with all eyes on Powell next. Bitcoin (BTC) hit new weekly highs after the Sep. 28 Wall Street open as markets awaited fresh cues from the United States Federal Reserve. BTC/USD 1-hour chart. Source: TradingView Bitcoin summons volatility ahead of Powell speech Data from Cointelegraph Markets Pro and TradingView showed BTC price strength staging a comeback on the day, having delivered what some referred to as a classic “pump and dump” 24 hours prior. During that performance, highs of $26,823 appeared on Bitstamp as the result of 2% daily gains before Bitcoin retraced all of its progress. A slower grind higher then took hold, with bulls edging closer to $27,000 at the time of writing. Bitcoin appeared to react well to the latest U.S. macroeconomic data prints. GDP for Q2 grew by 1.7% year on year — below the projected 2.0% — while Personal Consumption Expenditures (PCE) index data for August came in in line w...

Bitcoin faces the highest levels in the U.S. dollar index (DXY) of 2023 so far as BTC price action wobbles. Bitcoin (BTC) hugged $26,000 at the Sep. 24 Wall Street open as a weekly close “nosedive” brought lasting consequences. BTC/USD 1-hour chart. Source: TradingView Bitcoin must preserve support now, analysis says Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory uncertain after briefly piercing $26,000 support. Sideways weekend trading soon turned sour into the new week, and upset overnight meant that bulls were unable to recoup lost ground. #Bitcoin Weekend price action wasn't exciting until the later hours on Sunday as expected. Price held around the CME Close price until futures opened and then took a nose dive. https://t.co/HgmYShdrjA pic.twitter.com/VAzov8haCJ — Daan Crypto Trades (@DaanCrypto) September 25, 2023 “Bitcoin failed to break through local resistance in the form of a descending trend line, and it looks like a little bearis...

BTC price volatility returns as good news over the GBTC conversion to a spot Bitcoin ETF sends markets rallying. Bitcoin (BTC) neared two -week highs on Aug. 29 as news hit that digital asset manager Grayscale had won a lawsuit against United States regulators. BTC/USD 1-day chart. Source: TradingView SEC was "arbitrary and capricious" with Bitcoin ETF rejection Data from Cointelegraph Markets Pro and TradingView captured an instant BTC price reaction to the event, with BTC/USD gaining $1,700 in around 30 minutes. The news upended a stale Bitcoin trading environment which had endured after snap losses in mid-August. A ruling by the United States Court of Appeals for the District of Columbia Circuit stated that the U.S. Securities and Exchange Commission (SEC) was wrong to reject an application by Grayscale to launch an exchange-traded fund (ETF) using the Bitcoin spot price as its basis. “The denial of Grayscale's proposal was arbitrary and capricious because the SEC ...

Bitcoin and altcoins lose more ground after comments from the Federal Reserve suggest that the regime of interest rate hikes could continue into 2024. Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer.  However, a positive sign is that after a brief sell-off, the United States equities markets have recovered from their intraday lows. With the event having passed without any major price movement, traders are back to guessing as to what could move the markets next. Daily cryptocurrency market performance. Source: Coin360 Pantera Capital believes that Bitcoin’s (BTC) price action will continue to follow its previous halving cycles. If that happens, Bitcoin could rise to $35,000 by April 2024 when the next halving is expected to occur. Af...