Ethereum blockchain's native asset Ether (ETH) touched a new record high on Nov. 8, supported by a rally across the top cryptocurrencies ahead of a key U.S. inflation report this week. ETH price rose by 3.30% in the past 24 hours to $4,770 for the first time in history as Bitcoin (BTC) reclaimed $66,000, demonstrating the strong positive correlation between the two digital assets. Inflationary pressure returns Wall Street economists anticipated the U.S. consumer price index (CPI) to rise to 5.8% in October ahead of the Bureau of Labor Statistics' inflation report on Wednesday. That would log a step up …

Bitcoin’s (BTC) dominance has dropped from about 48% on Oct. 20 to 42.3% on Nov. 7 while the total crypto market capitalization has continued its northward journey. This indicates that the price action has shifted from Bitcoin to altcoins. CryptoQuant CEO Ki Young Ju said that Bitcoin whales are selling but this has not resulted in the breach of the strong support at $60,000. He also pointed out that Bitcoin reserves across exchanges have continued to decrease, indicating strong appetite from buyers. The majority of the market participants remain bullish on Bitcoin and anticipate a rally to $288,000 by the …

Bitcoin (BTC) and Ether (ETH) had their highest monthly close ever in October, indicating strong momentum that favors buyers. The focus now shifts to November, which has largely been bullish for Bitcoin. Since 2013, Bitcoin has closed November in the red on only two occasions, in 2018 and 2019. Another positive impetus for Bitcoin could be the tailwinds from the U.S. stock markets, which also have an enviable record in November. The S&P 500 has recorded a median rise of 2% in November, the only month of the year to achieve such impressive median returns. Data from Glassnode also shows …

The weekend failed to ignite bullish momentum from crypto investors and both Bitcoin (BTC) and Ether (ETH) turned down on Oct. 31. The bulls will now try to achieve the third successive weekly close and the first-ever monthly close above the psychological $60,000 level. $63,000 is another level of interest for traders because the stock-to-flow creator PlanB, projected this level as the “worst-case scenario” for October. In the recent past, PlanB’s worst-case theory was proven to be correct in August and September. Apart from the near-term interest, investors should remember that Bitcoin was launched on Jan. 3, 2009, at a …

The share price of the Intercontinental Exchange-backed crypto services company Bakkt ($BKKT) has surged as it unveiled two partnerships with major global payments firms. On Monday 25 Oct., Mastercard announced it would be working with digital asset platform Bakkt to allow its customers based in the United States to buy, sell and hold digital assets through custodial wallets. On the same day, global payment provider Fiserv also announced a strategic collaboration with Bakkt to offer merchant-facing digital asset services. The news drove a bullish day of trading for BKKT, with the stock rallying by more than 50% outside of regular …

Bitcoin (BTC) continues to face strong selling as bulls attempt to flip the psychological level at $60,000 into support. Some analysts believe that Bitcoin could enter a correction as traders book profits following the successful launch of last week's Bitcoin exchange-traded funds. In the past, the launch of the Bitcoin Futures product by the Chicago Mercantile Exchange on Dec. 18, 2017, ended a strong bull run and marked the start of a multi-year bear market. A similar crash of a lesser magnitude was seen after the Coinbase IPO (COIN) on April 4, 2021. This suggests that the old adage “buy …

Shiba Inu (SHIB), a spin-off to Dogecoin (DOGE) token, reached an all-time high following a price surge of more than 46% in just two days. The SHIB/USD trading pair was valued highest at $0.00003941 during press time. The latest price jump of SHIB token is attributed to an ongoing bullish trend from Oct. 15, which helped the cryptocurrency’s value rally by more than 26%. Since Oct. 17, SHIB maintained week-long support at roughly $0.00002796 before resuming to bull run to its all-time high. In the last seven days, Shiba Inu’s market value surged over 50% and currently stands as the …

Bitcoin (BTC) and Ether (ETH) have both witnessed aggressive profit-booking after hitting their respective new all-time high. This suggests that traders who had bought on rumors of a Bitcoin exchange-traded fund booked profits following the successful launch of the ProShares’ Bitcoin Strategy exchange-traded fund (ETF) (BITO). The bulls tried to stage a recovery in Bitcoin after the launch of the second BTC futures-linked ETF by digital asset manager Valkyrie on Oct. 22 but met with strong selling pressure at higher levels. The selling has pulled the greed level on the Crypto Fear and Greed Index from 84 on Oct. 21 …

Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown: Is the Bitcoin (BTC) exchange-traded fund (ETF) the only thing driving up BTC price, or are there other factors at play? The first-ever Bitcoin futures ETF hit a record-breaking $1 billion in assets under management in just two days. How will additional ETFs affect the price of Bitcoin? And should an Ether (ETH) ETF be expected anytime soon? ETH is now within …

Bitcoin (BTC) surged to a new all-time high on Oct. 20, hitting close to $67,000. Ether (ETH) also broke above its immediate resistance and has started its march toward the all-time high. This pushed the total market capitalization of the crypto sector to a new all-time high above $2.64 trillion. The successful debut of the ProShares’ Bitcoin Strategy exchange-traded fund (BITO) acted as the trigger to boost sentiment in the crypto space. The ProShares’ ETF trading volume on the first day of the launch exceeded $1 billion, making it the second-most successful ETF debut based on the trading volume on …

ProShares Bitcoin Strategy exchange-traded fund (ETF) will enter the history books on Oct. 19 when it starts trading on the New York Stock Exchange under the ticker BITO. Market participants are likely to watch the volumes on the ETF closely to gauge the amount of participation from institutional investors. If the response is tepid for a few days, short-term traders may be tempted to book profits, but the bullish momentum may pick up further if demand remains strong. The latest CoinShares report for the week ending Oct. 17 shows that institutional inflows into crypto products have pushed the total assets …

On Oct. 15, news that a Bitcoin (BTC) exchange-traded fund (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then. Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news. Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020. While high volatility cannot be ruled out in the near …