Bitcoin surged about 25% this week, reaching nearly $80,000 following the US Treasury's expansion of its long-term bond buyback program from $2 billion to $4 billion per operation. This move helped lower 30-year Treasury yields, easing pressure on markets and triggering forced liquidation of around $4 billion in short cryptocurrency positions. The rally was also supported by $1.6 billion inflows into US spot Bitcoin ETFs, with total ETF assets surpassing $85 billion. Analysts view this as a potential end to the bear market if Bitcoin sustains above the $78,000-$80,000 resistance zone, despite Treasury yields still near 5%.
Bitcoin initially dropped below $76,000 following reports of a Democratic sweep in Congress but quickly recovered its losses within hours. The market reaction was influenced by the potential impact of the CLARITY Act, which aims to clarify regulatory...
Bitcoin and five other major cryptocurrencies saw price gains over 24 hours, with Bitcoin up 1.42% to $77,858 and Ether rising 1.79% to $2,291. Despite these gains, the total crypto market capitalization fell by 1.21% to $2.63 trillion, indicating mi...
Bitcoin dropped below $76,000 for the first time since mid-September, triggering nearly $250 million in leveraged position liquidations. The selloff was driven by $398.6 million in outflows from US spot Bitcoin ETFs, especially BlackRock's IBIT fund,...
LayerZero surged 9.26% to $1.86, leading gains among the top 90 cryptocurrencies by market cap, excluding stablecoins. Other notable gainers included Pump.fun, Lighter, Venice Token, and Midnight, while Bitway experienced the largest drop at 8.71%. B...
Bitcoin's price fell 1.60% within an hour to $75,855 as of Nov. 3, reflecting a $1,233 decline from the previous hour and a 1.31% drop over 24 hours. The market saw significant long liquidations totaling $33.55 million across major exchanges Binance,...
