Despite all the negative macro and industry developments that took place in the past week, bitcoin’s price went on an impressive run on Monday morning, surging to a new eight-month high of just over $87,000. Here are some of the possible reasons behind this, but let’s start with why it was unexpected. The Bad News
Bitcoin’s BTC$86,030.61 rally has traders chasing upside exposure, with the most notable options trade of the past 24 hours pointing to expectations for a move toward $95,000 by the end of October. The trade was a “long call butterfly,” an options strategy that benefits most when the underlying asset settles near a specified middle strike
After a strong breakout that puts the six-digit $100,000 level back into consideration, Bitcoin has returned to acceleration mode, rising above $85,000. According to the provided market data, Bitcoin is currently trading at about $85,250, up about 4.4 percent over the last day and 9% over the last seven days. Can Bitcoin accelerate higher? The
Short Squeeze Drives Volume Jump Market sentiment across the cryptocurrency space flipped sharply into bullish territory as bitcoin ($BTC) pushed past $87,300, propelled by a major short squeeze and a spike in social volume. According to data from crypto intelligence platform Santiment, crowd commentary around bitcoin and the broader market reached its highest concentration of
The Call That Aged Badly Cramer’s apprehension apparently began on July 30, when, during an interview with IBM Chairman and CEO Arvind Krishna, he asked whether quantum computers could eventually crack the cryptography that protects bitcoin. Krishna’s answer was measured but still quite blatant: “I think that you should give yourself three or four years,
Bitcoin $BTC$85,927.41 remains in the hunt for further gains as falling oil prices join a growing list of tailwinds supporting the cryptocurrency. The largest cryptocurrency recently traded near $86,000 after recovering from Asian-session lows of around $85,000. Prices convincingly broke above the May high on Monday, reinforcing the bullish trend. The CoinDesk 20 Index (CD20)
Bitcoin’s break above $86,000 has cleared a major pocket of bearish leverage and put $90,000 back in traders’ sights. The largest cryptocurrency climbed as high as $87,363 over the past 24 hours, its strongest level since January, before easing to $85,824 at press time, CryptoSlate data show. The advance pushed Bitcoin through a zone that
Satoshi Nakamoto’s Bitcoin could be among the first major targets of a future quantum attack because many of the earliest units sit in addresses where their public keys are already exposed. Bitcoin security researcher Justin Drake warned in a recent interview with analyst Denis Liu that this vulnerability does not mean users should panic, as
The crypto market cap climbed 3.48% in 24 hours to roughly $2.94 trillion, with Bitcoin dominance at 59%. $BTC price today is near $86,907 on the daily chart, just below recent highs after a sharp rally. The Fear & Greed Index sits at 70 in Greed territory. $BTC/USDT — daily chart with candlesticks, EMA20/EMA50 and
BitMEX co-founder Arthur Hayes suggested that a slowdown in the AI sector in the US could support the price of Bitcoin (BTC) in the long term. According to Hayes, a potential slowdown in the AI sector could trigger developments leading to an expansion of the money supply in the US. In a blog post, Hayes