American investment firm Pantera Capital’s portfolio manager has said “smart money” is helping push bitcoin’s price higher. Cosmo Jiang, portfolio manager at the firm, said in a Friday CNBC interview that the next resistance for the coin’s price could be around $80,000 and that while small pullback was possible, “smart money” was now flooding into
Bitcoin roared past $79,000 Friday, sustaining the biggest run in years following positive regulatory news and an announcement from the U.S. Treasury. The leading cryptocurrency hit as high as $79,319 before dipping slightly. It was recently priced at $77,584, a more than 7% rise over the past day. Over a seven-day period, the coin has
Bitcoin continued its rise on Friday, having its best week since 2023 as over $1 billion in shortsellers’ positions got ruined and exchange-traded funds received billions in new cash. The leading cryptocurrency on Friday was recently trading 23% higher over a seven-day period after flying past $77,542. It earlier in the day reached as high
The session offered some breathing room after a bruising stretch in which rising long-term Treasury yields repeatedly hammered stocks lower. The Nasdaq Composite climbed 104.12 points, the NYSE Composite gained 194.68 points, the Dow Jones Industrial Average ripped 517.84 points higher, and the S&P 500 tacked on 32.83 points during Friday’s trading session. Even with
Bitcoin price extended its sharp recovery on Aug. 21, rising above $76,000 for the first time since late May as institutional inflows and improving U.S. liquidity conditions supported the breakout. $BTC traded near $76,291, gaining almost 9% over 24 hours and approximately 19% during the previous seven days, according to crypto.news price data. The rally
Bitcoin’s recent move above $73,000 is being driven by more than just a short squeeze, according to blockchain analytics firm Nansen. While short covering has accelerated the advance, spot and exchange-traded fund (ETF) demand are providing the underlying support, said Nicolai Sondergaard, a research analyst at Nansen. Understanding the Rally: Short Squeeze vs. Spot Demand
The rise in Bitcoin price has pushed the AHR999 indicator, followed by long-term investors, out of the “buy the dip” zone. The indicator has returned to its regular buying range after approximately 82 days. According to third-party data, the Ahr999 indicator reached 0.5073 following Bitcoin’s recent gains. This move the indicator out of the “buy
Bitcoin ($BTC) consolidated above $77,000 after Friday’s Wall Street open as gold joined the crypto rally to hit 14-week highs. Key points: Bitcoin and gold both hit their highest levels since May 15 against the US dollar. Analysis ties the strong performance firmly to US government debt policy. Polymarket odds of Bitcoin reaching $90,000 before
Bitget CEO Gracy Chen expects Bitcoin to remain broadly around current levels through the end of the year despite its recent surge, citing interest rates and broader macroeconomic conditions as key factors shaping the cryptocurrency’s outlook. Speaking on Cointelegraph’s Trade Secrets podcast, Chen said predicting whether Bitcoin ($BTC) will finish the year above or below
In brief Bitcoin surged above $79,000 Friday as ETF inflows, macro conditions and developments in Washington boosted demand. U.S. spot Bitcoin ETFs attracted more than $1 billion over two days as institutional demand picked up. Billions of dollars in short positions were liquidated as Bitcoin rallied, accelerating the move higher. Bitcoin surged above $79,000 Friday