|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin Eyes $70K as Stablecoins Flood the Market
Sep 29, 2024 at 03:01 am
For months, Bitcoin seemed locked in a stagnant trend, with its wild price swings tamed and skeptics once again questioning its long-term viability.
Bitcoin price is showing no signs of slowing down and could reach $70,000 within the next two weeks, according to a report by 10x Research.
After breaking out above $65,000, the cryptocurrency could hit new all-time highs by late October, the report said.
A surge in stablecoin liquidity and a global recovery in the cryptocurrency market are driving this upward momentum.
Bitcoin price is surging again, and could reach $70,000 within the next two weeks, according to a report by 10x Research.
After breaking out above $65,000, the cryptocurrency could hit new all-time highs by late October, the report said.
This bullish movement aligns with a flood of stablecoin liquidity into the market, following the Federal Reserve’s decision to delay interest rate cuts at its July 31 Federal Open Market Committee (FOMC) meeting.
In the weeks following the FOMC meeting, nearly $10 billion in stablecoins were issued, which has played a role in propping up Bitcoin price.
Stablecoins like Circle’s USD Coin (USDC) are crucial for traders shifting positions into assets such as Bitcoin, due to the quick settlement times and low fees.
The total value of outstanding stablecoins has now surpassed $160 billion, with USDC gaining increased popularity among institutional investors.
Bitcoin price is also being pushed up by China’s recent $278 billion stimulus plan, which could ignite a parabolic surge in cryptocurrency prices due to increased global liquidity, according to 10x Research.
Chinese cryptocurrency brokers have already seen over $40 billion in inflows during the first half of the year, with the majority coming from large transactions exceeding $1 million.
Despite the price surge, Bitcoin’s volatility remains relatively subdued. The 30-day realized volatility sits at 41%, below its five-year average.
This reduced volatility creates an environment where institutional traders, who are known for strict risk management, can comfortably take larger positions in the market.
If these trends continue, Bitcoin could surpass the $70,000 mark in the near future, further solidifying its position as the dominant cryptocurrency in the market.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Safe 6.0 Coins PS4/PS5: The Ultimate Solution for FIFA Ultimate Team
- Sep 29, 2024 at 12:15 pm
- For avid FIFA Ultimate Team (FUT) players on PS4 and PS5, building the dream team is essential. However, acquiring top players can be challenging without enough coins.
-
- DraftKings Promo Code: Get $200 in Bonus Bets for Georgia vs. Alabama
- Sep 29, 2024 at 12:15 pm
- A DraftKings promo code isn't needed to place a $5 wager on Georgia vs. Alabama and receive $200 in bonus bets, win or lose.
-
- CYBRO and Avalanche (AVAX) Forecast to Lead the Next Crypto Bull Market, Experts Hint at a Massive 600% Rise
- Sep 29, 2024 at 12:15 pm
- Experts forecast significant gains for Avalanche and Cybro, hinting at a massive 600% rise during the upcoming bull market. This captivating prediction has caught
-
- CYBRO Presale Soars Past $2.5 Million: A One-in-a-Million NeoBank Investment Opportunity
- Sep 29, 2024 at 12:15 pm
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2.5 million. This cutting-edge NeoBank offers investors unparalleled opportunities to maximize their earnings in any market condition.
-
- RCO Finance (RCOF): A Presale Token That Promises Quicker Profits Than Shiba Inu (SHIB) and PEPE
- Sep 29, 2024 at 12:15 pm
- Comprehensive investment comparison is a critical skill for crypto investors. It helps you identify the best coin to invest in for acceptable returns.
-
- Bitcoin (BTC) Price Prediction: Will the King Coin Continue Its Rally?
- Sep 29, 2024 at 12:15 pm
- Over the last 30 days, Bitcoin [BTC] has seen a significant rebound on its price charts after 2 months of extreme volatility.
-
- Dogecoin (DOGE), Ripple (XRP), Bitcoin (BTC) Price Today – September 29, 2024
- Sep 29, 2024 at 12:15 pm
- On September 29, 2024, the latest exchange rates of Dogecoin (DOGE), Ripple (XRP), Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported
-
- Bitcoin (BTC), Dogecoin (DOGE), and Ripple (XRP) Price Today – September 29, 2024
- Sep 29, 2024 at 12:15 pm
- On September 29, 2024, the latest exchange rates of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported as:
-
- DOGEN: The First Memetoken for Alpha Males Who Demand the Best
- Sep 29, 2024 at 12:15 pm
- Unleash your inner alpha with DOGEN, the meme token built for those who want to live a beautiful life. DOGEN is the alpha dog that never misses a chance to win big.