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BTCThe global cryptocurrency market, valued at $1.33 trillion, saw overall growth of 0.46% last Wednesday, with altcoins gaining despite the value of Bitcoin falling slightly lower. $34,867.03 remaining. This is a significant divergence from Bitcoin's record high of $69,000 at the end of 2021. Total crypto market volume over the past 24 hours increased 3.40% to $40.05 billion, with DeFi and stablecoins contributing 4.68 billion USD and 35.23 billion USD respectively. Speculative demand appears to be shifting from Bitcoin to lesser-known digital assets, which have increased this month. Meme currencies Dogecoin and Shiba Inu are up 4.63% and 2.07%, respectively, boasting market capitalizations of $10.64 billion and $4.9 billion, respectively. Pepe Coin also saw a significant increase of 30%.
BINANCE:BTCUSDLong
by Willsonnnn
Bitcoin Surpasses $35K Amid ETF ExpectationsBitcoin has experienced a significant surge in both institutional and retail investor activity, stabilizing around $34,000 after reaching its highest value since May 2022, surpassing $35,000. This marks a substantial 107% increase since the beginning of the year, driven by anticipations regarding the launch of exchange-traded funds (ETFs) and rising safe-haven demand. Last week, Bitcoin transactions exceeded $100,000, often associated with 'whale' investors, reaching the year's high of $23,400. According to data from IntoTheBlock, this uptick coincided with Blackrock's (NYSE: BLK) ETF registration filing, likely fueling increased interest in Bitcoin among large investors and institutions. The U.S. Securities and Exchange Commission (SEC) plans to approve several spot ETFs next year. This development has the potential to propel Bitcoin's market value to $42,000 or even higher. Meanwhile, data from Deutsche Digital Assets indicates a growing trend in retail investor activity. The on-chain activity index for small entities reached a new yearly high of 1.5 last week, indicating increasing participation from small investors.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin Surpasses $35K Amid ETF ExpectationsBitcoin has experienced a significant surge in both institutional and retail investor activity, stabilizing around $34,000 after reaching its highest value since May 2022, surpassing $35,000. This marks a substantial 107% increase since the beginning of the year, driven by anticipations regarding the launch of exchange-traded funds (ETFs) and rising safe-haven demand. Last week, Bitcoin transactions exceeded $100,000, often associated with 'whale' investors, reaching the year's high of $23,400. According to data from IntoTheBlock, this uptick coincided with Blackrock's (NYSE: BLK) ETF registration filing, likely fueling increased interest in Bitcoin among large investors and institutions. The U.S. Securities and Exchange Commission (SEC) plans to approve several spot ETFs next year. This development has the potential to propel Bitcoin's market value to $42,000 or even higher. Meanwhile, data from Deutsche Digital Assets indicates a growing trend in retail investor activity. The on-chain activity index for small entities reached a new yearly high of 1.5 last week, indicating increasing participation from small investors. This upswing in both institutional and retail investor involvement underscores the escalating interest in Bitcoin as it continues its upward trajectory. The anticipated approval of several spot ETFs next year could further stimulate this activity and potentially drive Bitcoin's market value to new heights.
BITSTAMP:BTCUSD
by Gwen_Humuna
BTCUSD:Bitcoin has soared nearly 27% this month, marking its bi Furthermore, many altcoins are following BTC according to data provider ByteTree’s Market Width Index. This indicator measures the number of digital assets increasing compared to the decreasing number of coins. Powered by CryptoCompare, the Market Width Index collects real-time data for over 5,300 digital currencies and categorizes tokens according to their trends on a scale of 1 to 5. A value of 5 means the coin is in a strong upward trend, and 0 means the coin is in a strong upward trend. A coin that is in a strong uptrend is in a strong downtrend. At the time of writing, only 4.7% of tokens are showing a significant bearish trend, the lowest level since January. This shows that the market breadth is expanding and more coins are participating in the Bitcoin bull market.
CRYPTO:BTCUSDLong
by Chart_MasterPro
BTC - 31/10/23It's quite a scenario to imagine, isn't it? 🐻 #Bitcoin seems to be showing signs similar to the 'Bull Trap' pattern we observed in late 2019/early 2020 🧐 👉 It's broken past the Echo Bubble Support line, deceived bears beneath the EMA50, and surged back to the former Support line, which now acts as Resistance. The unique aspect this time is that we're witnessing a new yearly peak. Back in 2020, an unexpected event (covid19) led to a rapid market downturn. ❓Wondering about the potential catalyst this time? The current situation in the Middle East seems volatile. It's wise to stay alert. For CRYPTOCAP:BTC to demonstrate its strong bullish stance, reclaiming the trendline is crucial, potentially aiming for the 40-45k mark. I'd advise against betting against #BTC right now; its momentum is commendable. Always be prudent and avoid getting caught up in the excitement.
BITSTAMP:BTCUSD
by mikey_s_trades
BTC future!Last week, Bitcoin transactions exceeding $100k, often associated with 'big' investors, reached a year-to-date high of 23,400. According to data from IntoTheBlock, this increased activity coincides with Blackrock (NYSE:{13078|BLK}}) filing for an ETF and is said to have increased interest in Bitcoin among large and small investors. organizations. The U.S. Securities and Exchange Commission (SEC) is expected to approve several spot ETFs next year. This development has the potential to push Bitcoin's market value to FWB:42K or more.
BINANCE:BTCUSDLong
by D-Venn
Bitcoin at $35,000: Mid-December Ideal Entry?"Technical Analysis: Micro Outlook for Bitcoin Since testing the $33,901 support level, Bitcoin seeks to maintain its upward momentum, supported by the price trends surrounding spot BTC ETFs. While the next major ETF news may take some time, Bitcoin faces decisions from the US Federal Reserve regarding interest rates and the release of non-farm payroll data in the coming week. If outcomes align with expectations, BTC could experience limited volatility, hovering around $34,700, with potential to reach $35,000.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
Are Bitcoin and Commodities Rising from the Israel-Hamas War?Factors Affecting Price: Bitcoin has historically been bullish in the month of October with green monthly candles for 8 out of the 10 last years in the month of October (80% probability). October of 2023 has also been extremely bullish with a lot of hype surrounding the Bitcoin ETF. However, commodities such as GOLD and Silver (SLV) also had significant spikes over this same time period. I think that Bitcoin is also benefitting from the Israel-Hamas War, and that this conflict is contributing to Bitcoin's rise in value. Bitcoin shares a lot of similarities with GOLD and SLV due to their store of value. Fiat currencies around the globe are also at risk due to high U.S. debt, irresponsible spending from the U.S. government, and the higher interest rate environment. Bitcoin's Price Action: Bitcoin has been pretty bearish since the highs in mid July, and has started a strong upward rally shortly after the Israel-Hamas conflict. This date is marked by an orange circle, and a similar rally can be found on GOLD and Silver. It seems that the war is helping to drive up the price of Bitcoin and commodities. Key Price Levels: The two yellow trendlines at $30.7k and $34.8k are key resistance levels. BTC easily broke through $30.7k, but has been suppressed by the $34.8k resistance line. If BTC does break above the $34.8k resistance line, my key price target is the light blue trend line. This price target increases over time so this prolonged sideways price action will lead to a higher price target if BTC does continue this bullish momentum. If BTC pulls back, I would look for a bounce around $30.7k on the way down.
BITSTAMP:BTCUSD
by realchartchamp
The Four Reasons I'm Long On BitcoinOn the weekly timeframe for CRYPTOCAP:BTC : - A candle closed above the downwards trendline (Forming a bull flag), indicating strength in buyers - The MACD indicator had a crossover on the weekly timeframe - Price has been respecting the 21 EMA in the last few weeks. All of my favorite setups include EMAs! - There seems to be a potential Cup and Handle pattern forming. - And obviously ... The news about an ETF for CRYPTOCAP:BTC seems very bullish and I can see this continuation! Given these four reasons, I am bullish on CRYPTOCAP:BTC Stop Loss / Take Profits Stop loss: My stop loss on this trade is pretty tight. I put it at a break of low of this week. However, I might wait for a close on the low! Take Profits: All of these take profits are set at levels that were areas where there was previous heavy selling pressure. My plan would be to scale out half of my position at TP1, 1/2 of the remaining position at TP2, and fully out at TP3 Let me know what you think of this trade!
BITSTAMP:BTCUSDLong
by fluxchart