The global crypto market cap has decreased over 6 percent over the previous day to $2.47 trillion, according to data from coinmarketcap.com
Bitcoin has fallen nearly 3 percent to $62,788 in the last day. The crypto has added more than 5 percent in the last week.
Ethereum has lost nearly 1 percent over the last day and gained 7 percent in the previous week. It is trading at $4113.
Solana is up over 11 percent to $203. In the last week, the crypto has increased more than 26 percent.
Polkadot has increased nearly 3.5 percent and 10 percent in the last day and week, respectively. It is priced at $45.10
Dogecoin has shed over 2 percent in the last day and is trading at $0.24.
The above prices are as of 12.07.pm IST on October 22
Bitcoin has fallen nearly 3 percent to $62,788 in the last day. The crypto has added more than 5 percent in the last week.
Ethereum has lost nearly 1 percent over the last day and gained 7 percent in the previous week. It is trading at $4113.
Solana is up over 11 percent to $203. In the last week, the crypto has increased more than 26 percent.
Polkadot has increased nearly 3.5 percent and 10 percent in the last day and week, respectively. It is priced at $45.10
Dogecoin has shed over 2 percent in the last day and is trading at $0.24.
The above prices are as of 12.07.pm IST on October 22
Cryptocurrency exchange FTX reached a valuation of $25 billion in a new funding round that includes heavyweights from traditional finance, such as the Ontario Teachers’ Pension Plan and funds managed by BlackRock Inc. BLK 0.09%
FTX Trading Ltd., the exchange’s parent company, said Thursday that it had raised just over $420 million in the new round. The news came three months after FTX closed a previous round at a valuation of $18 billion.
Since then, cryptocurrencies have rebounded from a summer slump. Bitcoin powered to a record of above $66,000 on Wednesday, after this week’s debut of the first U.S. bitcoin-focused exchange-traded fund.
FTX Trading Ltd., the exchange’s parent company, said Thursday that it had raised just over $420 million in the new round. The news came three months after FTX closed a previous round at a valuation of $18 billion.
Since then, cryptocurrencies have rebounded from a summer slump. Bitcoin powered to a record of above $66,000 on Wednesday, after this week’s debut of the first U.S. bitcoin-focused exchange-traded fund.
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Bitcoin hit a new high Wednesday, powered by a wave of buying after the first U.S. exchange-traded fund linked to the cryptocurrency started trading.
Bitcoin traded as high as $66,974.77 on Wednesday, passing the previous high of $64,889 set in April, according to CoinDesk. It fell to as low as $29,608.60 in July before roaring back on a series of developments that signal the digital currency’s move from the shadowy fringes of the investing world to the regulated main.
The latest of them was the approval by the Securities and Exchange Commission for the first bitcoin-focused ETF, which began trading Tuesday and rose 5% in its debut. Nearly $1 billion of shares changed hands over the session, making it the second-most highly traded ETF debut ever.
The new fund, which holds bitcoin futures contracts rather than the coins themselves, makes it easier for regulated institutions to get exposure to bitcoin and the broader crypto market.
Bitcoin traded as high as $66,974.77 on Wednesday, passing the previous high of $64,889 set in April, according to CoinDesk. It fell to as low as $29,608.60 in July before roaring back on a series of developments that signal the digital currency’s move from the shadowy fringes of the investing world to the regulated main.
The latest of them was the approval by the Securities and Exchange Commission for the first bitcoin-focused ETF, which began trading Tuesday and rose 5% in its debut. Nearly $1 billion of shares changed hands over the session, making it the second-most highly traded ETF debut ever.
The new fund, which holds bitcoin futures contracts rather than the coins themselves, makes it easier for regulated institutions to get exposure to bitcoin and the broader crypto market.
Walmart, the world’s largest company by revenue, is letting customers buy bitcoin at dozens of its U.S. stores.
Shoppers can purchase the cryptocurrency at Coinstar machines inside the retailer’s cavernous big box stores. A CoinDesk editor verified that the service works, buying a small amount of BTC at a Pennsylvania Walmart on Oct. 12.
Shoppers can purchase the cryptocurrency at Coinstar machines inside the retailer’s cavernous big box stores. A CoinDesk editor verified that the service works, buying a small amount of BTC at a Pennsylvania Walmart on Oct. 12.
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The two major types of cryptocurrencies are Bitcoin and Altcoins. Founded in 2019, Bitcoin is the original cryptocurrency.
After Bitcoin, several other cryptocurrencies were created. All such cryptos are collectively called Altcoins.
To know more about Bitcoin and Altcoins and how they are different, check out the infographic below.
After Bitcoin, several other cryptocurrencies were created. All such cryptos are collectively called Altcoins.
To know more about Bitcoin and Altcoins and how they are different, check out the infographic below.
Bitcoin’s price continued to decline on Friday, ending the week down about 2% compared to a 1.7% gain in the ether cryptocurrency. Some traders who went long on BTC ahead of the launch of ProShares’ futures-focused exchange-traded fund (ETF) this week appear to be taking profits.
Still, some investors expect pullbacks to remain limited for the remainder of the year. And one firm mentioned that alternative cryptocurrencies such as ether could see further upside relative to bitcoin.
“We remain optimistic but are cautious about downside risk,” crypto trading firm QCP Capital wrote in a Telegram announcement. The firm noted that leverage levels are high in the bitcoin futures market, which typically precedes a price pullback. QCP also expects ether to outperform bitcoin in the near term.
Valkyrie Investments’ Bitcoin Strategy ETF, another futures-focused product, went live on the Nasdaq under the ticker BTF on Friday. The ETF’s share price tracked bitcoin lower during its first day of trading, down about 4% an
Still, some investors expect pullbacks to remain limited for the remainder of the year. And one firm mentioned that alternative cryptocurrencies such as ether could see further upside relative to bitcoin.
“We remain optimistic but are cautious about downside risk,” crypto trading firm QCP Capital wrote in a Telegram announcement. The firm noted that leverage levels are high in the bitcoin futures market, which typically precedes a price pullback. QCP also expects ether to outperform bitcoin in the near term.
Valkyrie Investments’ Bitcoin Strategy ETF, another futures-focused product, went live on the Nasdaq under the ticker BTF on Friday. The ETF’s share price tracked bitcoin lower during its first day of trading, down about 4% an
Ether gaining ground relative to bitcoin
Ether, the world’s second-largest cryptocurrency by market capitalization, slipped below the $4,000 price level on Friday. Similar to bitcoin, technical indicators show ether is at its most overbought point since September, which preceded a sharp price pullback. This time, however, ETH’s pullback could be limited to around the $3,700 support level.
The ETH/BTC ratio stabilized over the past week, suggesting that traders are beginning to rotate out of BTC and into ETH. The ratio held support around 0.06 and could face short-term resistance around 0.07 and 0.08.
Ether, the world’s second-largest cryptocurrency by market capitalization, slipped below the $4,000 price level on Friday. Similar to bitcoin, technical indicators show ether is at its most overbought point since September, which preceded a sharp price pullback. This time, however, ETH’s pullback could be limited to around the $3,700 support level.
The ETH/BTC ratio stabilized over the past week, suggesting that traders are beginning to rotate out of BTC and into ETH. The ratio held support around 0.06 and could face short-term resistance around 0.07 and 0.08.
Altcoin roundup
ETH second in Coinbase exchange trading volumes. Last week, ETH landed the second spot in terms of trading volume on the Coinbase exchange. “The ETH buy ratio has picked up, suggesting a bounce in ETH/BTC might be in the making,” Coinbase wrote in a Friday newsletter. Elsewhere, some layer one protocols maintained their relatively lackluster volumes.
Current taps Bison Trails to support Polkadot DeFi plans: Fintech company Current is working with Bison Trails, a blockchain infrastructure that was acquired by Coinbase in January, to sync up with Polkadot parachain networks Karura and Acala in an effort to bring DeFi services to its three million users, CoinDesk’s Eli Tan reported. The company has partnered with Ripple and Ethereum before but neither came to fruition due to technical limitations, the company said.
Ripple CEO says the SEC helped ether overtake XPR as no. 2 crypto: Ripple CEO Brad Garlinghouse says ether was able to surpass XRP as the second-most popular crypto by market cap
ETH second in Coinbase exchange trading volumes. Last week, ETH landed the second spot in terms of trading volume on the Coinbase exchange. “The ETH buy ratio has picked up, suggesting a bounce in ETH/BTC might be in the making,” Coinbase wrote in a Friday newsletter. Elsewhere, some layer one protocols maintained their relatively lackluster volumes.
Current taps Bison Trails to support Polkadot DeFi plans: Fintech company Current is working with Bison Trails, a blockchain infrastructure that was acquired by Coinbase in January, to sync up with Polkadot parachain networks Karura and Acala in an effort to bring DeFi services to its three million users, CoinDesk’s Eli Tan reported. The company has partnered with Ripple and Ethereum before but neither came to fruition due to technical limitations, the company said.
Ripple CEO says the SEC helped ether overtake XPR as no. 2 crypto: Ripple CEO Brad Garlinghouse says ether was able to surpass XRP as the second-most popular crypto by market cap
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Bitcoin, BTC to USD, fell by 2.40% on Friday. Following a 5.76% slide on Thursday, Bitcoin ended the day at $60,706.0.
A bullish start to the day saw Bitcoin rise to a late morning intraday high $63,729.0 before hitting reverse.
Falling short of the first major resistance level at $65,290, Bitcoin slid to a late afternoon intraday low $60,013.0.
Bitcoin fell through the first major support level at $60,502 before briefly revisiting $61,000 levels.
A bearish end to the day, however, saw Bitcoin fall back to end the day at sub-$61,000 levels.
The near-term bullish trend remained intact, supported the latest return to $66,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
A bullish start to the day saw Bitcoin rise to a late morning intraday high $63,729.0 before hitting reverse.
Falling short of the first major resistance level at $65,290, Bitcoin slid to a late afternoon intraday low $60,013.0.
Bitcoin fell through the first major support level at $60,502 before briefly revisiting $61,000 levels.
A bearish end to the day, however, saw Bitcoin fall back to end the day at sub-$61,000 levels.
The near-term bullish trend remained intact, supported the latest return to $66,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
For the Bitcoin Day Ahead
Bitcoin would need to move through the $61,483 pivot to bring the first major resistance level at $62,952 into play.
Support from the broader market would be needed for Bitcoin to break out from $62,500 levels.
Barring a broad-based crypto rally, the first major resistance level and Friday’s high $63,729.0 would likely cap the upside.
In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $65,199.
Failure to move through the $61,483 would bring the first major support level at $59,236 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$58,000 levels, however. The second major support level sits at $57,767.
Bitcoin would need to move through the $61,483 pivot to bring the first major resistance level at $62,952 into play.
Support from the broader market would be needed for Bitcoin to break out from $62,500 levels.
Barring a broad-based crypto rally, the first major resistance level and Friday’s high $63,729.0 would likely cap the upside.
In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $65,199.
Failure to move through the $61,483 would bring the first major support level at $59,236 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$58,000 levels, however. The second major support level sits at $57,767.
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