Latest news with #DYOR
CNBC
3 days ago
- Business
- CNBC
Bitcoin touches record, ether almost makes new high before rolling over
Bitcoin hit a new record late Wednesday as ether climbed even closer to its all-time high. The flagship cryptocurrency rose as high as $124,496, surpassing its July record of 123,193.63, according to Coin Metrics. Ether rose to $4,791.19 overnight, edging closer to its 2021 record of $4,866.01. Both coins took a hit Thursday, however, after July's wholesale inflation data came in much hotter than expected. Bitcoin was lower by 2% at $119,704.09, while ether fell the same amount to $4,612.40. The initial gains were sparked by Tuesday's cooler-than-expected July inflation report, which had lifted investor optimism for rate cuts from the Federal Reserve at the end of its September policy meeting. The coins rallied with the stock market for two days. On Wednesday, the S&P 500 and Nasdaq also scaled new records. For the week, bitcoin is on pace for a 2% gain, while ether has rallied more than 13%. Ether flipped bitcoin as the crypto market leader in June, gaining 85% since then thanks to heavy institutional buying, tightening supply and adoption from corporate accumulators – all under the backdrop of a friendlier regulatory environment for the crypto industry. Jake Kennis, analyst at Nansen, said the rally likely has more room to run given the flows remain strong. "Bitcoin hitting a fresh all time high and ETH being on the verge of doing so means we've moved from speculative mania to a phase where institutional adoption, real-world integration, and global liquidity are driving price discovery," said Ben Kurland, CEO at crypto research and trading platform DYOR. "The fact that both assets are on the verge of breaking records in tandem signals broad market conviction, not just a single-asset rally," he added. "Momentum this strong rarely burns out instantly, but it also tends to draw in latecomers who can fuel volatility. Right now the story is less about euphoria and more about validation. Crypto is graduating from 'alternative' to 'essential' in the global portfolio mix."
CNBC
10-06-2025
- Business
- CNBC
Bitcoin held above $100,000 for 30 consecutive days — even with a 10% pullback — for the first time ever
Bitcoin just completed a significant test above the $100,000 level for the first time. The cryptocurrency had been backsliding since reaching its all-time high on May 22 , falling 10% to $100,428 by Friday. Buyers stepped in over the weekend, propping it up to $105,000. On Monday bitcoin shot back up to $110,000 on traders' optimism about U.S.-China trade talks making progress . Bitcoin has now held above the $100,000 for more than 30 days in a row for the first time ever. (It last fell below that level on May 8.) The milestone may be seen as a psychological hurdle by many, but it is nevertheless a positive indication for the digital asset. 1M mountain Bitcoin (BTC) has held above $100,000 for 30 days in a row for the first time "Anytime price is able to punch through a major resistance level, whether psychological or historical, and successfully hold, it is certainly a bullish sign," Read Harvey, technical analyst at Wolfe Research, told CNBC. "What really stood out to us was price's ability to hold that level on the back test, when it briefly fell to $100,000 on Thursday. It also happened to align perfectly with the 50-day moving average. … We feel this should act as a launching pad back towards the recent highs of $112,000." He also said to expect another brief consolidation around the record before a breakout to new highs. 'A new floor' Ben Kurland, CEO at crypto research and charting platform DYOR, said $100,000 "isn't just speculative froth" now but "a new floor being tested and held by institutional flows, ETF inflows, and a maturing investor base ." "The era of short-lived rallies and quick retracements is giving way to structural support ," he said. "We're likely in the foothills of bitcoin's next climb." Sustained consolidation around all-time high levels usually sets bitcoin up for the next leg higher, he said, adding that "if $100,000 is the new base, $120,000-$130,000 becomes the next logical zone — especially as macro conditions stabilize and sidelined capital seeks asymmetric upside." Sales by long-term holders Tyrone Ross, founder and president of registered investment advisor 401 Financial, said even though bitcoin's 30 days above $100,000 represents a more psychological barrier than a technical feat, that could still help drive the coin higher. "On-chain data shows long-term holders are selling," Ross pointed out. "ETF and corporates buying is strong, but retail has yet to come back. So the longer bitcoin stays above $100,000, [it] will start to be a magnet for retail interest." Bitcoin saw a surge in spending by long-term holders (those who have held onto their coins for six months or longer) on May 27, when bitcoin was trading at about $109,000, according to the crypto data provider CryptoQuant. Spending has decreased from about 40,000 bitcoin at the time to 6,000 Monday. In the same period, bitcoin's 30-day demand has slowed to 126,000 bitcoin from 228,000, which could potentially reduce the pace of price gains, Julio Moreno, head of research at CryptoQuant, explained. On Tuesday, bitcoin was trading at about $108,800, about 3% below its record. Earlier in the day, it rose as high as $110,500, its highest level since the all-time high. —CNBC's Nick Wells contributed reporting.
Al Arabiya
03-04-2025
- Business
- Al Arabiya
Bitcoin dips after Trump imposes tariffs
Bitcoin and other major cryptocurrencies dipped after President Donald Trump imposed tariffs on US trading partners worldwide, triggering a slump in risk assets. The largest digital asset fell as much as 4 percent to about $82,000 on Thursday morning in Singapore before paring losses, while other tokens including Ether and XRP also declined. Solana had at one point shed more than 9 percent of its value. Trump announced Wednesday that he will apply a minimum 10 percent tariff on all exporters to the US and slap additional duties on around 60 nations with the largest trade imbalances with the US. China will face a 34 percent rate, while the European Union will have a 20 percent levy and Japan is seeing a 24 percent tariff. Cryptocurrencies bore the announcement relatively well at first, but began to falter as traders began their day in Asia. 'As a risk-on asset, cryptocurrencies have generally traded poorly during periods of uncertainty following announcements such as steady high rates or the introduction of trade tariffs,' said John Wu, president at Ava Labs. A $577 billion exchange-traded fund tracking the S&P 500 (SPY) fell about almost 2.5 percent after the close of regular trading in the US on Wednesday — wiping out an initial rally. 'Markets will likely dip in the short term, not because of the tariffs themselves, but because of what they represent: the return of policy-driven volatility,' said Ben Kurland, CEO of crypto research platform DYOR. 'Traders hate unpredictability, and this signals more is coming.' Meanwhile, gold underscored its haven status by reaching a record of nearly $3,160 an ounce on Thursday, with bullion one of the few commodities exempted from the tariffs, according to a White House factsheet. Digital-asset enthusiasts have often framed Bitcoin as a similar kind of refuge for investors, but the original cryptocurrency has looked vulnerable in times of volatility over the past year. 'The next big move hinges on geopolitics, policy shifts, and whether traders see Bitcoin as risk or refuge,' said Rachael Lucas, a crypto analyst at BTC Markets. For Bitcoin, $80,000 is a 'must-hold' level, she added.
