Bitcoin News

The post Why Bitcoin Just Jumped $10,000 in Hours appeared on BitcoinEthereumNews.com. Bitcoin surged above $106,000 on Monday as the US Senate moved forward with legislation to end the historic government shutdown. At the time of writing, the leading cryptocurrency is trading at around $106,274, indicating a 4.38% increase in the last 24 hours. BTC Price, Source: CoinMarketCap The price rise comes as senators voted 60-40 to pass a deal to end the 40-day shutdown, the most extended shutdown of federal operations in United States history. Market observers also noted a temporal relationship between the advancement of legislation and the rise of Bitcoin. Government Shutdown Reaches Historic Length The federal government entered shutdown mode on October 1 following Congress’s failure to pass necessary appropriations bills. The funding package demanded by Democrats was the extension of healthcare subsidies. Republicans blocked these provisions, as well as other spending plans they considered too high. The prolonged shutdown has affected many federal agencies and services. The long period saw hundreds of thousands of government workers furloughed or working without pay. Only critical services were running, and many departments were operating with skeleton crews. In the early stages of the shutdown, Bitcoin has shown incredible growth. The cryptocurrency surged to a record high of $126,080 as investors sought to diversify their portfolios by selling assets amid political uncertainty. However, the rally lost steam as the closure dragged on without resolution. The prolonged shutdown created unusual economic conditions. Traditional markets became more volatile as investors considered the potential ramifications of the government’s long-term dysfunction. The first boom of Bitcoin marked a conventional safe-haven response during political instability. ETF Approvals Expected to Accelerate Industry analyst Nate Geraci predicts that the end of the shutdown will result in a surge of approvals for exchange-traded funds. During the closure, the Securities and Exchange Commission has been running at reduced capacity. This…

Crypto market rebounds with rising volume as Bitcoin ($BTC) and Ethereum ($ETH) gaining strength, while DeFi TVL and NFT sales record notable growth.

The post Cardano Goes On Offense: Hoskinson Fast-Tracks Quantum Shift appeared on BitcoinEthereumNews.com. Cardano Goes On Offense: Hoskinson Fast-Tracks Quantum Shift Sign Up for Our Newsletter! For updates and exclusive offers enter your email. Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin’s financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons. This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree Source: https://bitcoinist.com/cardano-hoskinson-fast-track-post-quantum-shift/

The post Bitcoin and Ethereum ETFs Experience Their Third-Biggest Weekly Outflow! Here Are the Details appeared on BitcoinEthereumNews.com. According to data from crypto data platform SoSoValue, Bitcoin spot ETFs saw net outflows totaling $1.22 billion in the week of November 3-7, the third-largest weekly outflow in history. Bitcoin Spot ETFs Experience Third-Highest Weekly Outflow in History The Grayscale Bitcoin Mini Trust (BTC) saw the highest inflows for the week. The fund closed with net inflows of $21.61 million, bringing its total historical inflows to $1.97 billion. Bitwise Bitcoin ETF (BITB) ranked second with an inflow of $4.69 million; the fund’s total net inflow reached $2.32 billion. By contrast, the largest outflow was seen in BlackRock’s IBIT ETF. The fund closed the week with net outflows of $581 million, bringing IBIT’s total historical net inflows to $64.32 billion. Fidelity’s FBTC ETF also saw outflows of $438 million, bringing its total net inflows to $12 billion. As of November 7, the total asset value of Bitcoin spot ETFs was measured at $138.08 billion, accounting for 6.67% of Bitcoin’s total market capitalization. During the same period, Ethereum spot ETFs experienced net outflows of $508 million, the third-highest level historically. BlackRock’s ETHA ETF saw $297 million in outflows, Fidelity’s FETH ETF saw $109 million in outflows, and Invesco’s QETH ETF saw $2.59 million in inflows. The total asset value of Ethereum spot ETFs stands at $22.66 billion. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/bitcoin-and-ethereum-etfs-experience-their-third-biggest-weekly-outflow-here-are-the-details/

TLDR Bitcoin dropped below $100K to $99K but recovered to $106K over the weekend, cutting weekly losses from 10% to 5% The US Senate voted 60-40 to advance a government funding bill, sparking hopes the month-long shutdown will end soon Bitcoin held the 365-day moving average as support, avoiding a potential bear market signal Trump [...] The post Bitcoin (BTC) Price: Recovers to $106K as Government Shutdown Nears End appeared first on CoinCentral.

The post U.S. Government Shutdown Deal Boosts Market Optimism appeared on BitcoinEthereumNews.com. Key Points: U.S. government shutdown agreement boosts market optimism and investor sentiment. S&P 500 and Nasdaq 100 futures rebound following news. The Singapore Dollar strengthens amid Federal Reserve rate cut expectations. Lloyd Chan, Mitsubishi UFJ’s senior analyst in Singapore, indicated the U.S. government shutdown’s resolution could significantly impact markets by reducing uncertainty and enhancing investor confidence. The resolution has prompted U.S. stock market rebounds, reflecting increased optimism and technical recovery, while analysts predict broader positive effects on risk assets, including cryptocurrencies. Market Optimism Following U.S. Shutdown Resolution Lloyd Chan, a senior currency analyst at Mitsubishi UFJ’s Singapore branch, highlights the potential market influence of the U.S. government shutdown agreement. As Chan observed, “The agreement to end the U.S. government shutdown may trigger a significant market reaction, notably by reducing data uncertainty and boosting investor sentiment.” The agreement is expected to significantly reduce data uncertainty and enhance investor sentiment. U.S. equities experienced rebounds, including a notable increase in the S&P 500 and Nasdaq 100 futures. Chan attributes this to a technical recovery and increased optimism concerning the resolution. Statements from market analysts, especially Chan’s insights, emphasize the response from investors. Positive sentiment reflects an expectation of enhanced market stability and improved investment landscapes. Analysts observe strengthening in sectors sensitive to policy changes. Did you know? Historically, U.S. government shutdowns are linked to financial volatility. Agreement announcements, like this one, typically restore confidence and result in uptrends across equity, forex, and even crypto markets. Macroeconomic Impact and Cryptocurrency Trends Did you know? Historically, U.S. government shutdowns are linked to financial volatility. Agreement announcements, like this one, typically restore confidence and result in uptrends across equity, forex, and even crypto markets. Bitcoin (BTC) trades at $106,481.14 with a market cap of $2.12 trillion, capturing 59.26% market dominance, as per CoinMarketCap. Its 24-hour volume…

BTC tapped a six-day peak earlier this morning.

The post Why Are Bitcoin OGs Dumping Billions Of Dollars In BTC? appeared on BitcoinEthereumNews.com. Why Are Bitcoin OGs Dumping Billions Of Dollars In BTC? | Bitcoinist.com Sign Up for Our Newsletter! For updates and exclusive offers enter your email. Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain. This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree Source: https://bitcoinist.com/bitcoin-ogs-dumping-btc/

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