All articles tagged with #spot etf
Bitcoin has reached a new all-time high of $95,000 on Coinbase, driven by the introduction of spot Bitcoin ETF options in the U.S. and the reelection of pro-crypto President Donald Trump. The surge follows a series of bullish catalysts, including SEC approval for a U.S. spot ETF and Trump's plans to promote industry growth. Analysts predict Bitcoin could surpass $100,000 by year-end, with potential to reach $120,000 by 2025.
The Bitcoin price has been consolidating in a channel pattern, awaiting the US SEC decision on spot Bitcoin ETFs, with a potential breakout expected to resume the recovery rally. The BTC price is currently trading at $44333, with a potential upside breakout signaling a rally towards $52100 and $60000, while a breakdown could lead to a new correction phase. Additionally, over 30% of Bitcoin's total supply hasn't been moved in more than five years, indicating a strong trend of long-term holding among investors.
Bitcoin options open interest has reached a record-breaking $20.5 billion, indicating increased involvement from institutional investors. Deribit, with a 90% market share, holds a substantial $2.05 billion open interest for options expiring on Jan. 26. The $50,000 call options have garnered significant attention, with a valuation of $8.8 million, potentially increasing if a spot ETF is approved. However, the demand for call options in the $70,000 to $80,000 range is relatively low. Put options are positioned cautiously, with 97% of bets placed at $42,000 or lower. The regulatory landscape and the ongoing Binance trial may impact the market.
Bitcoin and Ethereum prices rose by 4% as optimism around a potential spot ETF approval in the US grew, coupled with peak prices in gold. Over the weekend, crypto perpetual futures positions worth $220 million were liquidated, with bullish longs accounting for 85% of the total. Bitcoin shorts worth over $120 million were also liquidated since Friday. Open interest on BitMEX spiked 90% within hours, indicating a large player had opened massive bets on the platform. These liquidations can signal a local top or bottom, providing traders with insights into price volatility.
Bitcoin has risen above $37,000 despite the recent news of a $4.3 billion fine and guilty plea by Binance's CEO. The settlement may have cleared the way for the U.S. Securities and Exchange Commission (SEC) to approve a spot bitcoin ETF, as concerns about overseas manipulation of bitcoin prices may have eased. Crypto markets have been volatile but are now bouncing back, with bitcoin up 1.5% in the past 24 hours. Other cryptocurrencies like ether, Solana, and Chainlink have also seen gains.
Bitcoin and BNB have recovered some of their losses following Binance CEO Changpeng Zhao's guilty plea and the exchange's $4.3 billion settlement for violating sanctions and money-transmitting laws. The plea and settlement are seen as potentially increasing the chances of a spot-based bitcoin exchange-traded fund (ETF) being approved in the U.S. However, both currencies are still down on a 24-hour basis. The settlement has also resulted in significant liquidations of long positions in bitcoin and BNB, causing price volatility. Despite this, some traders believe that the industry's increased compliance may strengthen the case for institutional adoption of Bitcoin.
The price of Ethereum (ETH) surged by 8% to break the $2,000 barrier, reaching its highest level in six months, following news of BlackRock registering the iShares Ethereum Trust in Delaware. This sparked speculation about a potential Ether spot ETF filing by the $9 trillion asset manager. However, with no official statement from BlackRock, investors may have jumped the gun. Professional traders placed bullish bets on ETH using derivatives, while retail indicators suggest a lack of demand for cryptocurrencies. The rally in ETH price and the anticipation of a spot ETF approval have raised concerns and put the $2,000 support level to the test.
Bitcoin's rapid gains paused as traders took profits on a week-long rally driven by hopes of a spot exchange-traded fund (ETF) approval in the U.S. Major tokens showed mixed movement, with Cardano slipping 2% and Solana adding 3%. The CoinDesk Market Index (CMI) rose slightly, indicating overall market gains. Traders believe signs of institutional adoption may signal the end of the "crypto winter." BlackRock's actions, including a DTCC listing and tickerization, fueled anticipation for a spot bitcoin ETF, but some believe the SEC will wait to approve multiple managers simultaneously.
Bitcoin, Ethereum, and Dogecoin experienced gains as the global cryptocurrency market cap rose by 0.47% to $1.25 trillion. The positive momentum was fueled by expectations surrounding Bitcoin Spot ETFs. Analysts noted that the iShares Bitcoin Trust reappeared on the Depository Trust & Clearing Corporation website after disappearing earlier, suggesting that BlackRock may be seeding the ETF. Bitcoin is currently in an upward trend, with support at $31,100-31,800 and potential entries at 4-8% dips towards $38K. Glassnode highlighted the importance of upcoming weeks as Bitcoin shows strength in breaking psychological pricing levels, and the recent rally may be partially driven by leveraged speculation.