On-chain data shows BTC still capitulating below key cost basis levels
Metaplanet Moves 2,100 BTC Into US Expansion Through Superplanet Deal - Read the full analysis.
While the advance was triggered by relief in the bond market following White House support signals for U.S. Treasuries, longer-term gains are likely to be underpinned by the Fed, said Pedro Fontes, a research analyst at crypto exchange Mercado Bitcoin.
Investors have poured more than $1 billion into US spot Bitcoin ETFs this week as BTC neared $72,000 and Ether climbed 19% to about $2,286 on Thursday.
The large holders of bitcoin seem to be returning to buying. Around 43,000 BTC have reportedly been accumulated over 60 days, according to data from CryptoQuant relayed on August 19th by Bitcoin.com News.
The dollar drops to its lowest since late May, gold climbs to its highest since early June, Bitcoin jumps toward its summer high. Behind all three moves stands the same decision out of Washington, and understanding it means understanding the weeks ahead.
Erald Ghoos, OKX Europe CEO, says U.S. crypto rules could blow new life into the market amid a rotation of capital from AI back to bitcoin.
Six weeks of compression ended in the largest short liquidation since at least 2021, with $3 billion of bearish bets forced to buy back into thin supply.
Ethereum also accelerated on complete days while Solana lagged, and key Aug. 19 issuer rows remain missing.
Bitcoin traders are betting the cryptocurrency has further to run this month, but few see a return to six figures, according to prediction market Polymarket. The market, which asks what price Bitcoin will hit in August and resolves on 1 September, put the odds of the token reaching $100,000 at just 1%.
Driven by a U.S. Treasury announcement and bullish comments from President Donald Trump, bitcoin hit a session high of $71,992, pushing its market cap to $1.44 trillion. Bitcoin Nears $72,000 as Macro Rally Gains Steam Bitcoin maintained its upward momentum Thursday morning, approaching $72,000 as a rally sparked by a U.S.
Bitcoin's first push above $70,000 in two months has erased nearly $3 billion in short positions, powered by a Treasury buyback expansion.