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Market Watch: BTC Tests $61K While BNB Skyrockets 150% in 2 Weeks

Bitcoin’s prolonged story with the $60,000 price mark continues as the asset has spiked above it once again. However, its dominance keeps suffering as some altcoins have marked substantial gains. Binance Coin stands out with a massive double-digit price surge and yet another ATH at above $570. Bitcoin Flirts With $60K Again The primary cryptocurrency continues its fight with its round-numbered nemesis $60,000. As reported on Saturday, it seemed that the asset’s struggles were finally behind it as BTC spiked above it and even reached a 3-week high of $61,200. However, Sunday turned out to be a different story as…

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Grayscale Adds $1 Billion in Bitcoin, Nears $50 Billion in Total AUM

Investment giant Grayscale recently added another $1 billion worth of Bitcoin in almost 24 hours. Now, the firm nears the $50 billion mark with $46.1 billion in total assets under management (AUM) AUM Growing As reported by CryptoPotato recently, the investment firm increased its total AUM by more than $3 billion, shortly after expanding its crypto-trust offerings by adding five new tokens for their eligible accredited investors.  04/09/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $46.1 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT pic.twitter.com/8RMLseCeQQ…

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Bitcoin Price Can Reach $400K Thanks to Institutional Adoption: Bloomberg

The price of bitcoin could surge multi-fold from its current level to $400,000 as its institutional adoption has intensified, noted Bloomberg analysts. In their recent report on the primary cryptocurrency, they also suggested that BTC is replacing the “old-guard” gold more “sudden than gradual.” Bitcoin to Reach $400K? In the latest monthly report on BTC’s performance, Bloomberg’s analysts, led by senior commodity strategist, Mike McGlone, outlined the $50,000 price mark as the asset’s baseline support. Although they acknowledged $60,000 as the key resistance in bitcoin’s way up, they believe it’s actually “eroding” due to the massive adoption from behemoths like…

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Bitcoin Struggling at $60K: Stellar (XLM) Enters Top 10 After 25% Surge (Market Watch)

Despite overcoming its nemesis at $60,000 yesterday, bitcoin’s struggles with that particular benchmark level continue as the asset has dipped beneath it. Most altcoins have also retraced slightly, with the apparent exception of Ripple (XRP), which surged to a new 3-year high of $1.4 following more positive news in the ongoing legal battles with the SEC. Bitcoin Dips Below $60K Once Again After a three-week-long wait, bitcoin finally overcame $60,000 yesterday. Furthermore, the cryptocurrency kept going upwards and charted a high of $61,200. However, the situation has changed since then. Just as the community was over joyous with the developments,…

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Bitcoin Price to $90,000, Ethereum to $15,000 if History Repeats: Kraken Report

Bitcoin and Ethereum have entered their second-most bullish month and could continue their respective runs with new highs by the end of it, reads Kraken’s monthly report. However, the paper outlined a potential $10,000 price drop for the primary cryptocurrency if history is to repeat itself before heading north again. BTC and ETH: The Bull Side Overall, March was a positive month for the cryptocurrency market, with the two largest digital assets, namely BTC and ETH, registering new records. In its monthly report on the industry’s development, the veteran US exchange Kraken indicated that bitcoin ultimately gained 30% and closed…

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Bitcoin Price Analysis: Can BTC Top ATH Following Today’s $60K Breakout?

Bitcoin is up by a strong 5% today as it finally surged past $60,000 for the first time in April. After breaking that level, it went on to reach today’s high at $61,222 (at the time of writing). The coin started the month by attempting to charge above $60,000 but failed in the first week. Ultimately, it managed, but this comes after 4-5 failed attempts over the past month. BTC was holding the 20-day EMA for the first few days of April but fell beneath there on Wednesday when Bitcoin fell by 4% to reach the weekly low near $55,400.…

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Bitcoin Explodes Above $60K: Ethereum & BNB Break ATHs

After failing to overcome its round-numbered nemesis of $60,000 for weeks, bitcoin has finally broken above it. Most alternative coins are also well in the green, with ETH and BNB surging to new ATH records at just shy of $2,200 and $485, respectively. Bitcoin Skyrockets Above $60K Bitcoin was unable to continue north following its all-time high in mid-March at $61,800. Just the opposite, the cryptocurrency reversed its trajectory and a few weeks later even threatened to dump below $50,000. Although it tried on several occasions to reclaim $60,000, it failed, and every rejection drove it further south. However, the…

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Crypto Price Analysis & Overview April 9th: Bitcoin, Ethereum, Ripple, Binance Coin, and Cardano

Bitcoin Bitcoin moved sideways over the last week of trading as it sits at $58,500. At the start of the week, the cryptocurrency made multiple attempts to break the $60,000 level but failed on each attempt. It then went on to establish support at $57,000. However, this support was penetrated on Wednesday as BTC plummeted as low as $55,440. Luckily, the buyers regrouped at this low and managed to allow BTC to rebound above $58,000 yesterday. Today, BTC continued higher to break resistance at $58,355 to reach as high as $58,500, where it currently trades. Looking ahead, the first level…

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Crypto Market Cap Reclaims $2 Trillion: Bitcoin Eyes $58K (Market Watch)

Following a few consecutive days of price slumps and bottoming at $55,500, bitcoin has bounced off and jumped to approximately $58,000. Most alternative coins are also well in the green, with Binance Coin registering yet another all-time high above $420 and XRP surging back to north of $1. Bitcoin Aims at Conquering $58,000 Following the latest rejection just before the $60,000 line on April 6th, bitcoin headed south. In the following few days, the asset lost more than $4,000 of value, which led to the lowest price level in ten days on Wednesday below $55,000 as reported. However, the cryptocurrency…

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Bitmain Sells 42,000 S19 Antiminers to Riot Blockchain

Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in the target by more than 90%). Riot Blockchain Exceeding its EH/s Expectations. Bitmain will be delivering 2000 S19j Antiminers per month, starting in November 2021, continuing through October 2022. In August 2020, Riot Blockchain bought 8,000 S19 Pro Antimners from Bitmain worth $17.7 million. The…

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Buying Opportunity? Investors Sentiment for Bitcoin and Ethereum Turns Short-Term Bearish

The recent adverse price developments for the top two cryptocurrencies by market cap have caused a mood swing among investors. Data shows that the crowd sentiment towards Bitcoin and Ethereum has dropped to extreme negativity as both assets slumped by about 10% in a few days. Sentiment Towards BTC and ETH to New Lows Bitcoin and Ethereum went through steep retracements in the past several days. The primary cryptocurrency failed to overcome $60,000 despite initiating several attempts, and the subsequent rejections drove it to a ten-day low of $55,500 yesterday. ETH’s price performance seemed significantly more bullish. The second-largest digital…

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Calm After the Strom: Bitcoin Reclaims $57K and Ethereum Above $2K (Market Watch)

Bitcoin dipped to its lowest point in over a week beneath $56,000 but has recovered some of the losses and currently stands above $57,000. Most altcoins have retraced even harder, including a double-digit price drop for the high-flying Ripple (XRP) and Ethereum briefly dropping beneath $2,000. BTC’s Dominance Increases Despite the Drop The past several days didn’t go all that well for the primary cryptocurrency. After failing to overcome $60,000 on numerous occasions, the asset reversed its trajectory and headed south. Bitcoin reached $59,400 on Thursday, but its inability to sustain the upward momentum gave the bears an opportunity to…

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Bitcoin Miners Hit Jackpot as Hash Rate Peaks Again

Data from on-chain analytics provider Glassnode has reported that Bitcoin’s average hash rate hit a new all-time high this week, crossing a daily average of 178 exahashes per second for the first time in history. Bitinfocharts confirms the record high, reporting current hashrates at 176 EH/s. It topped 150 EH/s twice in February and has remained at these high levels for the past two months, steadily increasing. Hashrate is often considered as computing ‘horsepower’ for the Bitcoin network and a strong sign of its security. The higher the hashrate, the harder it is to attack the network. The bullish on-chain…

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Bitcoin Price Analysis: Losing $4K in 24 Hours, Can BTC Hold the Critical Support Area?

Bitcoin fell by a sharp 4% so far today as it dropped as low as $55,600. The cryptocurrency had started the month with another attempt to breach the $60,000 benchmark level. Unfortunately, it was unable to overcome this resistance through the week as it set a range between $60,000 and $57,000. Today’s price drop caused bitcoin to break beneath this range as mentioned above. As of writing these lines, and as seen on the following 4-hour chart, it is currently holding the critical support around $56,200 – $56,100, provided by a short-term .382 Fib and a 4-HR 200 moving average…

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$1.8 Billion Longs Liquidated in a Day as Bitcoin Price Dips Below $56K

The bears had the upper hand in today’s trading session as markets are red across the board. Bitcoin’s price dipped to $55,600, causing a serious number of liquidated long positions. Bitcoin’s price took a turn for the worst today and declined from an intraday high of around $58,600 to a low of $55,600, losing $3,000 from its dollar value. At the time of this writing, the price hovers indecisively around $56,000. BTC/USD. Source: TradingView The entire cryptocurrency market followed BTC’s near 10% daily decrease. Ethereum plunged to $1,930, down 8% in 24 hours. Binance coin also retraced after it marked…

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Kimchi Premium Crashing After Bitcoin Traded Above $70K in South Korea

Bitcoin’s price exploded to above $70,000, but only in South Korea as the so-called “kimchi premium” went to a yearly high above 20%. However, it has significantly dropped in the past several hours, which could prompt a retracement for BTC, at least according to historical data. Kimchi Premium Yearly High Named after a traditional South Korean side dish, “kimchi premium” represents the difference in BTC’s price on local exchanges and everywhere else in the world. Although it might sound logical that bitcoin should trade at the same or similar price in every country, being a global asset, that’s rarely the…

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Ripple (XRP) Back in Top 4: BTC Dominance Plunging (Market Watch)

While bitcoin has suffered below $60,000, some altcoins have taken advantage by registering impressive gains. Apart from BNB’s newest price records, Ripple is also another remarkable performer. XRP has returned above $1 for the first time since mid-2018 and has reclaimed the 4th spot in terms of market cap. Rising Altcoins; XRP Back in Top 4 As CryptoPotato reported yesterday, there’re several signs of an ongoing altseason. And, looking at the charts, it’s hard to argue. Ripple is among the best performers following somewhat positive news from the legal case against the SEC. The payment processor won access to the…

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BNB Sets a New ATH at $411.7 While Bitcoin Fails To Break Past $60.000

The hodlers of BNB, Binance’s official cryptocurrency, have plenty of reasons to celebrate. Its upward momentum is not stopping, and it seems that the bulls are ready to send the token prices to the moon with nothing to stop them. The cryptocurrency closed on April 6 with a new all-time high at $411.7. That price represents a 9% increase for the day. Not bad considering that the rest of the markets gave mixed signals, with some downward corrections marked by Bitcoin’s general trend. BNB Is On Its Way To Conquer the $400 Price Zone BNB broke the $400 zone yesterday,…

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Altcoin Season 2021 Booming as Bitcoin Dominance at 1-Year Low (Market Watch)

After dipping below $57,000, bitcoin initiated another leg up but failed to challenge the coveted $60,000 price line. In contrast, most alternative coins have surged in value, including a new ATH for Binance Coin and a massive increase for XRP, which has further decreased BTC’s dominance over the market, which is currently at a one-year low. Altcoins in Green; BNB Eyes $400 As reported yesterday, most larger-cap alternative coins were somewhat stagnant, except for XRP. Ripple’s native cryptocurrency had a substantial double-digit gain, and the asset has only doubled down on its increase in the past 24 hours. Another impressive…

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Ripple (XRP) Skyrockets 17% as Bitcoin Finds Trouble at 57K Area (Market Watch)

Bitcoin continues to suffer below the coveted $60,000 and stands about three thousand dollars below after another slump. As such, its dominance has declined even more as some altcoins have marked serious gains. Ripple leads the larger-cap pack with a 17% daily surge to just shy of $0.70. XRP Leads the Altcoin Way The past few days have been somewhat stagnant for the larger-cap altcoins as most have failed to display any significant price movements. The situation is relatively similar in the past 24 hours. Ethereum has remained just above $2,000, Binance Coin is still beneath $340, Polkadot (-3%) is…

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