Fun

News Feed - 2023-10-24 08:10:38

Tom Mitchelhill59 minutes agoBitcoin suddenly rockets past $34K as ETF excitement growsThe price of Bitcoin (BTC) quickly surged to $34,000 as excitement swelled over developments in the Bitcoin ETF space.4562 Total views11 Total sharesListen to article 0:00NewsJoin us on social networksUptober may have finally arrived, with the price of Bitcoin (BTC) breaking through the $34,000 mark for the first time since May last year, marking a staggering 14% gain in the past 24 hours. 


The price of Bitcoin suddenly spiked upwards on Oct. 23, with BTC gaining more than 10% from $31,000 to briefly touch $34,000 before settling down to a current price of $33,349 according to data from TradingView. The price of Bitcoin over the past two weeks. Source: TradingView


The sudden uptick in price for Bitcoin comes amid a fresh wave of interest in upcoming spot ETF approvals and a significant increase in overall trading volumes across spot markets. 


The surge also ca amid developments relating to BlackRock’s proposed spot Bitcoin ETF.


On Oct. 23, an X (formerly known as Twitter) post from Analyst Scott Johnson, pointed to two new pieces of information that could hint a spot Bitcoin ETF approval is getting closer for investment giant Blackrock. 


Johnson pointed out that investment giant Blackrock had secured a specific "CUSIP" licence and may soon begin the process of "seeding" their spot ETF product with cash as early as this month. 


In response to this post, Senior Bloomberg ETF analyst Eric Balchunas wrote that seeding an ETF is "typically not a lot of money" and would be just enough to get an ETF going, however admitted that it is overall a good sign and marks "another step in the process of launching."Note: Seeding is typically not a lot of money just enough to get ETF going. So I wouldn't read this as 'omg Blackrock is buying a ton of bitcoin' at all but more the fact they doing it and disclosing it shows another step in the process of launching.— Eric Balchunas (@EricBalchunas) October 23, 2023


The sudden surge in price also came with a significant growth in Bitcoins spot trading volumes. At the time of publication, spot trading volume had surged to more than $35 billion over the past 24 hours, a gain of 241% in the same time period, according to data from Coinmarketcap.


While Bitcoin enjoyed the largest price impulse, the general tide of upwards price momentum lifted other boats as well, with Ethereum"s native currency Ether (ETH) growing 7%, while Solana (SOL) gained a whopping 11%. Additionally, Dogecoin (DOGE) was up 8% while Cardano (ADA) lagged slightly with a 5% gain. 


Related: BlackRock’s spot Bitcoin ETF now listed on Nasdaq trade clearing firm — Bloomberg analyst


Crypto market commentators and community members were left dumbfounded by the sudden move upwards — with independent journalist Autism Capital asking their 237,000 followers; "what the heck just happened?" Wait, what the heck just happened? pic.twitter.com/JFX0pr9fFI— Autism Capital (@AutismCapital) October 23, 2023


Zooming out from the immediate price action, there seemed to be a favorable set up for the sudden growth in the price of cryptocurrencies, with Coinshares data showing that digital asset investment products saw a fourth consecutive week of inflows.Weekly digital asset investment inflows. Source: Coinshares


Magazine: ‘AI has killed the industry’ — EasyTranslate boss on adapting to change# Bitcoin# Cryptocurrencies# Business# Bitcoin Price# Investments# AdoptionAdd reactionAdd reactionRead moreBlockchain companies are creating AI chatbots to help developersIRS proposes unprecedented data-collection on crypto users3 reasons why Bitcoin miners are selling BTC — and why it’s not capitulation

News Feed

Lazarus Group moves $12M from HTX, HECO hacks to Tornado Cash
Ana Paula Pereira3 hours agoLazarus Group moves $12M from HTX, HECO hacks to Tornado CashDespite U.S. sanctions, North Korea’s Lazarus Group has resumed laundering stolen crypto funds through Tornado Cash.660 Total vie
Blog Author Tipped $10,000 for Well Phrased Peer-to-Peer Cash Conviction
Blog Author Tipped $10,000 for Well Phrased Peer-to-Peer Cash Conviction Following the Bitcoin Cash upgrade, the BCH proponent known as Mobtwo published a post o
Facebook Buys Stake in Reliance Jio — How the Deal Affects Cryptocurrency in India
Facebook Buys Stake in Reliance Jio — How the Deal Affects Cryptocurrency in India Facebook is buying a stake in Reliance Jio, India’s largest telecom operator. The deal has
Over 75% of Bitcoin short-term holders in profit as BTC breaches $67K
Zoltan Vardai10 hours agoOver 75% of Bitcoin short-term holders in profit as BTC breaches $67KBitcoin price is finally seeing some relief, but it faces significant resistance at the $68,000 mark, which would trigger over
Recession or Prolonged Inflation: The Fed Must Decide Between Two Policy Mistakes, Says Economist
Recession or Prolonged Inflation: The Fed Must Decide Between Two Policy Mistakes, Says Economist Allianz Chief Economic Advisor Mohamed El-Erian says the Federal Reserve will have
Bitcoin․com Partners with HAPI to Launch High-Yield Farm on Verse DEX and Enhance Wallet and DEX Security
Bitcoin․com Partners with HAPI to Launch High-Yield Farm on Verse DEX and Enhance Wallet and DEX Security press release Bitcoin.com , a global leader in accessible cryptocurrency
Bittensor (TAO) Soars 130% – What’s Behind The Altcoin’s Recent Surge?
Este artículo también está disponible en español. Bittensor (TAO) has been garnering attention for its exceptional performance, surpassing Bitcoin and the broader cryptoc
Rock Legend Gene Simmons Is Holding Crypto Despite Market Sell-Offs and FTX Collapse
Rock Legend Gene Simmons Is Holding Crypto Despite Market Sell-Offs and FTX Collapse Rock band Kiss’ lead singer Gene Simmons has confirmed that he is still holding crypto de
Non-fungible Digital Artwork Sale Shatters Records, ‘Picasso’s Bull’ NFT Sells for $55K
Non-fungible Digital Artwork Sale Shatters Records, "Picasso’s Bull" NFT Sells for $55KDuring the first week of July, news.Bitcoin.com reported on the growing sales of non-fungibl
Pocketcoin (PKOIN) Is Now Available for Purchase With Visa/Mastercard and 19 Different Cryptos
Pocketcoin (PKOIN) Is Now Available for Purchase With Visa/Mastercard and 19 Different Cryptos sponsored Pocketcoin (PKOIN) is a Proof-of-Stake token that is used decentralized adve
Best Presales to Buy as BlackRock’s Ethereum Holdings Cross Record $1B
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
US Court Sentences Another Centra Tech Co-Founder to 8 Years in Jail
US Court Sentences Another Centra Tech Co-Founder to 8 Years in Jail Sohrab Sharma, a co-founder with the now-defunct Florida cryptocurrency firm, Centra Tech, h