Bitcoin Price Drops 18%, Fed Discusses ‘Soft’ Inflation, Analyst Says BTC Sell-Off Attracts More Investors – Market Updates Bitcoin News

Digital asset markets are seeing some turbulence on Tuesday as the entire crypto market capitalization has lost 11% in value during the last 24 hours. Bitcoin has slid to a low of $44,846 during the morning trading sessions (EST) losing more than 18% during the last day. Bitcoin Price Dips Over 18% and Quickly Regains Some of the Losses Cryptocurrency proponents are watching markets closely after the price of bitcoin (BTC) started sliding early Sunday morning after coasting along at the $55k range. 12 hours prior the crypto asset had…

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Canadian Bitcoin ETF predicted to hit $1B AUM by Friday: Bloomberg analyst

With only two full days of trading under its belt, the first Bitcoin (BTC) exchange-traded fund in North America reached more than $400 million in volume and is expected to go even higher. According to a tweet from Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund, or ETF, recently debuted by Canadian firm Purpose Investments is likely to hit $1 billion in assets under management by Feb. 26. His prediction came prior to Purpose reporting its Bitcoin ETF traded $421.8 million between the time when it was first listed on…

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Ethereum hits new all-time high near $2K as analyst says 2021 bull run is different

Ether (ETH) hit fresh all-time highs and neared $2,000 for the first time on Feb. 18 as momentum returned to trading. ETH/USD 1-day candle chart (Bitstamp). Source: TradingView ETH sets sights on $2,000 Data from Cointelegraph Markets and Tradingview showed ETH/USD coming within 4% of the $2,000 barrier on Thursday. After spending much of February trading sideways with modest upward momentum, the largest altcoin reawakened this week. At the time of writing, daily gains totaled more than 4%, with Ether clocking new all-time highs of $1,930. In a fresh market…

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US Bitcoin exchange traffic explodes as analyst says flows hint at new BTC bull run

Bitcoin (BTC) exchanges in the United States are seeing unprecedented popularity as a wave of adoption sweeps the market.  Data from statistics resources Alexa and Similarweb shows that major exchange Coinbase now ranks within the top 1,000 most popular websites around the world. Coinbase in top 400 U.S. sites As BTC/USD circles all-time highs, its run to $42,000 in January appears to have sparked a tsunami of new user engagement with some of the most popular cryptocurrency trading platforms. In the U.S., the focal point of institutional inflows into Bitcoin…

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Analyst says Bitcoin price sell-off may occur as Chinese New Year approaches

On Jan. 29 Bitcoin (BTC) price briefly rallied to $38,500 before retracing the move and spending the majority of the day struggling to reclaim $35,000.  The wild breakout in Bitcoin price has partially been attributed to Elon Musk changing his Twitter profile to simply “#Bitcoin,” which Musk subsequently followed up with a cryptic tweet saying “In retrospect, it was inevitable.” Dogecoin (DOGE) also continued to make waves across Twitter and with crypto traders. After reaching a new all-time high at $0.078 on Jan. 28, DOGE price corrected by 41% before…

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Bitcoin’s Value Surpasses $23,700, Critics Claim Its a ‘Bubble,’ Onchain Analyst Says $100K Prices ‘Ridiculously Low’

The crypto economy has gained a massive amount of value during the last few days, as the aggregate market cap of all 7,500+ digital assets is a whopping $640 billion on Thursday. Meanwhile, the largest blockchain in terms of valuation, bitcoin has touched an all-time high of $23,777 rising more than 22% in 24 hours. Digital currency markets are doing extremely well this week, as a great number of coins have seen significant gains during the last three days. At $640 billion, the aggregate market cap of all the crypto…

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Bitcoin price hits $23K as on-chain analyst says $55K is the ‘next landmark’

The Bitcoin price (BTC) has surpassed the $21,000–$22,000 resistance range to rise above a new high of $23,000 on Dec. 17. Meanwhile, on-chain analyst Willy Woo now says $100,000 is a “ridiculously low” target. BTC/USD weekly chart (Bitstamp). Source: Tradingview The $21,000 level was particularly important for Bitcoin to continue its rally in the near term. Exchange heatmaps showed stacked sell orders at around $21,000 to $21,500, which meant BTC price had to break through to see a broader uptrend. The Bitcoin Top Cap Model puts $100,000 as a conservative…

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‘It will send BTC’ — On-chain analyst says Bitcoin hodlers are only getting stronger

According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could achieve a “conservative” target of $200,000 in 2021. The prediction revolves around the fact that long-time investors seem more confident in the recent rally. There are two key data points that suggest Bitcoin’s ongoing rally could explode higher. First, “HODLers,” or long-time BTC holders, aren’t moving their funds for longer than in previous rallies. Second, BTC held on exchanges continues to decrease, which reduces selling pressure. A bullish Bitcoin re-accumulation phase is happening The re-accumulation of Bitcoin has…

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Bitcoin analyst sees ‘perfect backdrop’ for $100K this bull cycle, $1M by 2035

Bitcoin (BTC) can hit $100,000 in five years and $1 million by 2035, Nugget’s News CEO Alex Saunders has told Cointelegraph. Speaking in an interview with Cointelegraph Markets analyst Michaël van de Poppe on Nov. 18, Saunders described current conditions as a “perfect backdrop” for new highs. Saunders: $1M Bitcoin price by 2035 “It’s either going to keep going like right now in the next few weeks and get to $20,000 very quickly, or it’s going to have its bit of a range now and then hopefully positive into next…

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Funds locked in DeFi surge $1B as analyst tips post-election bull run

Following a six week cooling-off period for the majority of decentralized finance protocols, the DeFi bulls are back in action as total value locked surges to new record highs. The amount of crypto collateral locked across various DeFi protocols has hit a new all-time high of $12.3 billion according to DeFi Pulse. In just 48 hours, over one billion dollars has been added to the total USD value, although precise figures vary on other analytics platforms such as Coingecko and Coinmarketcap. TVL on Coingecko’s tracker reports it to be around…

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