|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin Pushes Higher as ETF Inflows and US Regulatory Optimism Lift Sentiment
Oct 21, 2024 at 08:39 am
- Bitcoin pushed higher on Monday as a spurt of inflows into exchange-traded funds for the largest digital asset as well as optimism about the outlook for US regulations lifted sentiment.
Bitcoin advanced on Monday, heading closer to the key level of $70,000, as a wave of inflows into exchange-traded funds (ETFs) boosted sentiment amid optimism about the outlook for US crypto regulations.
The world’s largest cryptocurrency rose about 1% to $69,400 as of 8:30 a.m. in Singapore. It last stood at this level in June. Smaller tokens such as second-ranked Ether and top-10 coin Solana also advanced.
US spot-Bitcoin ETFs attracted almost $2.4 billion of net inflows in the six days through Oct. 18, data compiled by Bloomberg show. The inflows come amid a broader rally in crypto markets, partly on bets that US crypto rules will become friendlier after the Nov. 5 presidential election.
Republican candidate Donald Trump is avowedly pro-crypto, so much so that Bitcoin is viewed as a so-called Trump trade. Democratic rival Vice President Kamala Harris has vowed to support a regulatory framework for the industry.
That contrasts with a crackdown on the sector under the Biden administration. Theласти administration has taken several steps to increase oversight of cryptocurrencies, including a recent executive order that aims to coordinate government efforts on the matter.
The two key market trends are the elections and the global macroeconomic environment, according to David Lawant, head of research at crypto prime broker FalconX.
The Bitcoin options market indicates that “forward implied volatility is heavily clustered around the election day and somewhat subdued leading to it and some time after it,” he wrote in a note.
Bitcoin options are a popular way for traders to bet on the future direction of the world’s largest cryptocurrency. The seven-day annualized realized volatility for Bitcoin is currently at 48%, while the 30-day measure stands at 32%.
Bitcoin seven-day annualized realized volatility
Ether rose 0.6% to $5,170, while Solana climbed 1.3% to $102. Among the top 100, Lido DAO and Aptos experienced the biggest gains, both rising more than 6%. The Block mint burned 100 trillion BONK tokens.
The total crypto market value stood at about $3.26 trillion, and the total volume traded in the last 24 hours was around $210 billion, according to CoinGecko.
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.
-
- Ripple CEO Tips Opportunity in Stablecoins, Not Surprised By XRP ETF Applications
- Oct 21, 2024 at 12:45 pm
- Ripple CEO Brad Garlinghouse threw more light on RLUSD stablecoin, related regulations, and its case with the United States Securities and Exchange Commission. The crypto executive also addressed talks of an XRP ETF and lingering concerns about going public. The upcoming U.S. elections remain a big determinant of crypto regulations as candidates roll out plans for the sector.
-
- Memecoin Uptober Accuses Influencer Jaypeg of Orchestrating a Scam, Enlists ZachXBT to Investigate
- Oct 21, 2024 at 12:35 pm
- Uptober's team has accused crypto influencer Jaypeg of orchestrating a memecoin scam. They claim that Jaypeg received promotional tokens, sold them, and then denied ever receiving any funds.
-
- RCO Finance (RCOF) Presale: A Lucrative Opportunity to Outpace PEPE and Shiba Inu (SHIB)
- Oct 21, 2024 at 12:25 pm
- The meme coin niche has been defined as the crypto market rallies, with top coins like PEPE and Shiba Inu (SHIB) surging. Meanwhile, RCO Finance (RCOF), an emerging DeFi token, has showcased the potential to flip these meme coins and enter the list of top 20 cryptos by capitalization.