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Cryptocurrency News Articles
Bitcoin (BTC-USD) Jumps to a Record High as Post-Election Gains Resume
Nov 20, 2024 at 03:08 am
Bitcoin prices held steady over the weekend around $91,000 after last week's surge sent prices for the world's largest cryptocurrency above $80,000
Bitcoin (BTC-USD) hit a record high on Tuesday, continuing its strong gains after the U.S. presidential election.
Bitcoin prices rose to $93,877.33 per token as of early morning. The cryptocurrency had hovered around the $91,000 mark over the weekend after last week's rally saw prices for the world's largest cryptocurrency cross $80,000 and then $90,000 for the first time.
Bitcoin has been a key part of the "Trump trade," as President-elect Donald Trump has pledged to look into crypto-friendly policies, including the creation of a bitcoin national stockpile.
Bitcoin spot ETFs have also seen large inflows in recent weeks.
According to Yahoo Finance data, BlackRock’s spot bitcoin ETF (IBIT) saw its assets rise by $13 billion in the wake of Trump's win on Nov. 5, per Yahoo Finance data. This pushed assets in the iShares Bitcoin Trust past $40 billion just 10 months after its launch.
Options tied to IBIT also began trading on the Nasdaq on Tuesday, pushing more trading activity into the crypto space.
The move higher also comes on the heels of a Financial Times report stating that Trump Media & Technology Group (DJT) is in advanced talks to acquire crypto trading company Bakkt (BKKT), a tie-up that could further encourage initiatives within the sector.
Crypto-related stocks like trading platforms Coinbase (COIN) and Robinhood (HOOD) have also benefited from the recent rally, gaining 65% and 42% over the past 10 days, respectively.
Bitcoin proxy MicroStrategy (MSTR) hit fresh record highs on Tuesday.
The business intelligence and software company added 52,000 tokens to its portfolio over the past week — its largest purchase of the cryptocurrency yet. Year to date, MicroStrategy is up 500%.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
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- Options on BlackRock's popular iShares Bitcoin Trust ETF (IBIT) began trading on the Nasdaq Tuesday, ushering in a new way to trade and speculate on the price of bitcoin.
- Nov 20, 2024 at 08:25 am
- IBIT traded 73,000 options contracts in the first 60 mins of trading Tuesday, Nasdaq told CNBC, placing the fund in the top 20 of the most active nonindex options.
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- Coinbase to Delist Wrapped Bitcoin (WBTC) in December 2024, Promoting Its Own cbBTC Token
- Nov 20, 2024 at 08:25 am
- Trading for WBTC will be suspended on December 19, 2024, at approximately 12 PM ET. The move comes after Coinbase’s “most recent review,” which indicated that WBTC no longer meets its listing standards.
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- IntelMarkets Presale Gains Buzz as Experts Eye It as the Next Big Crypto Following XRP and DOGE’s Massive Surges
- Nov 20, 2024 at 08:25 am
- The crypto market has always been a niche where big returns could be enjoyed only by the early movers. This was the case with Ripple (XRP) and Dogecoin (DOGE), which are now seeing massive price surges. Now a new presale hit, IntelMarkets (INTL) is in the spotlight as experts expect it might ride the massive waves created by those legendary altcoins.
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- DTX Exchange (DTX) Presale Enters Phase 5 as Shiba Inu (SHIB) and Tron (TRX) Show Bullish Signals
- Nov 20, 2024 at 08:25 am
- The crypto market is seeing renewed bullish momentum, with many analysts making bold price predictions. For instance, Shib Knight remains optimistic for Shiba Inu (SHIB), while Kingpin Crypto foresees price growth for Tron (TRX).
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