Bitcoin News: Market Cap Rises as Trading Volume Drops
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In today's session, the cryptocurrency market saw a bullish trend with the global market cap increasing by 1.94% to $3.62 trillion. However, trading volume experienced a significant drop of 32.4%, standing at $181.9 billion. Bitcoin (BTC) showed a notable decrease in price, indicating a potential shift in market dynamics. The analysis of Bitcoin's price movements, particularly through the Bollinger Bands, suggests a period of volatility and possible consolidation. This mixed signal in the market cap and trading volume highlights the unpredictable nature of cryptocurrency investments, urging investors to stay informed and cautious.
Daily Market Review: BTC, ETH, WLD, BONK, FET
Bulls are in control of today’s session, as seen from the movement of the global market cap. The total cap stood at $3.62T as of press time, representing a 1.94% increase over the last 24 hours, while the trading volume dropped by 32.4% over the same period to stand at $181.9B as of press time. Bitcoin, $BTC, posted a notable decrease in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the bollinger bands are moderately wide, indicating some level of volatility in the market. A breakdown below the mid-line (blue line) could push the price toward the lower band. On the other hand, we see that the Awesome Oscillator is showing green bars, indicating bullish momentum is present but weakening. Bitcoin traded at $105,007 as of press time, representing a 1.94% increase over the last 24 hours.
Bitcoin Whales And Sharks Persist in Large Accumulation Spree Post Trump’s Inauguration
Interest in Bitcoin remains robust among investors following favorable macroeconomic and market conditions. Large investors, often referred to as whales and sharks, have been accumulating BTC at a substantial rate, indicating heightened Optimism and demand. Data from Santiment shows that over 1,002 coins per day have been accumulated by wallets holding 10+ BTC over the past five days. This consistent bullish activity suggests strong confidence in Bitcoin's long-term prospects, which could precede a price increase.
Bitcoin Could Surge To $1.7 Million, According To CryptoQuant And Glassnode
Bitcoin continues to establish new milestones, including a recent all-time high past the 108k mark. market analytics tools like CryptoQuant and Glassnode offer predictions for its future growth. CryptoQuant predicts a price range of $145,000 to $249,000 by 2025, while Glassnode’s research indicates even higher potential targets. The analysis is based on institutional capital flows, a favorable regulatory environment, and past cyclical trends. An anticipated flood of fresh capital might lift Bitcoin’s price, using a realized cap multiplier that generally varies between 2 and 6 during bull markets.
El Salvador, the Country Where Crypto Becomes a Law
El Salvador, a small Central American country with a rich history, has undergone significant economic changes. In the 20th century, its economy was based on coffee exports, but the civil war in the 1970s and 1980s caused severe damage, leading to a recession and mass emigration. After the conflict ended in 1992, the country launched market reformation and privatization. In 2001, El Salvador adopted the U.S. dollar as its official currency, stabilizing inflation but increasing its dependence on external factors. In 2021, El Salvador became the first country to recognize Bitcoin as legal tender, sparking global debate. The decision was driven by economic challenges, including the fact that about 70% of the population lacks bank accounts.
$1,000 in Bitcoin at Ross Ulbricht’s Arrest: What Would It Be Worth on His Release?
The article discusses the potential growth of a $1,000 investment in Bitcoin at the time of Ross Ulbricht's arrest, compared to its value upon his release. It highlights the significant price increase of Bitcoin over the years, noting its current trading price and recent all-time high. The piece also touches on the impact of Donald Trump's presidency on the cryptocurrency community, including the pardon of Ulbricht, the founder of Silk Road.
