Bitcoin Bears Lose $178M as Prices Break Past $34K
Traders on crypto exchanges Binance, Huobi and OKX were hit for $50 million each, suggesting a large amount of leverage used on those platforms.
Traders on crypto exchanges Binance, Huobi and OKX were hit for $50 million each, suggesting a large amount of leverage used on those platforms.
As bitcoin pushes 12% during Asia trading, there are parallels to the first Gold ETF and beyond, say, industry stakeholders and analysts.
BTC hasn’t seen these lofty levels since May 2022, when the cryptocurrency industry was just starting to get pummeled by scandals.
The crypto’s year-to-date high of about $31,800 is within sight.
The reward for mining new BTC will be cut in half soon, making it hard for less-efficient operators to survive.
MicroStrategy, the software company led by Saylor, began buying the crypto more than three years ago and at last check held more than 158,000 bitcoins.
The firm is looking for a “reliable income stream … that is uncorrelated to bitcoin prices.”
Grewal said in a CNBC interview that the SEC approvals of the ETF applications could be coming soon.
The latest price moves in crypto markets in context for Oct. 20, 2023.
Overall market capitalization rose 5% in the past 24 hours.