Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts

  • Ark Invest sold 44,609 shares of its ARKB Spot Bitcoin ETF for $2.8 million as part of a rebalancing strategy.
  • The firm retains $139.7 million in ARKB, making it the second-largest holding in ARKW.
  • US spot Bitcoin ETFs saw $4.5 million in inflows, while Ethereum ETFs faced outflows.

Cathie Wood’s Ark Invest has made headlines by offloading 44,609 shares of its ARKB Spot Bitcoin ETF, valued at $2.8 million. The sale, which took place on Monday, is part of Ark’s ongoing rebalancing strategy to adjust its fund weightings.

However, the move is not the first of its kind, with the firm having sold $6.9 million worth of ARKB shares in early August and $7.8 million in July. In total, Ark Invest has divested $17.5 million from its Bitcoin ETF.

Ark Invest avoiding overexposure to any one asset

Despite these sales, Ark Invest continues to hold a significant $139.7 million in the ARKB ETF, positioning it as the second-largest holding in its Next Generation Internet ETF (ARKW). The ETF still maintains a notable 9.93% weighting within ARKW’s portfolio.

Tesla remains the largest asset in the ARKW fund, with a 10.15% weighting, worth approximately $142.9 million.

Ark’s recent sales align with its overarching strategy of preventing any single holding from exceeding 10% of an ETF’s portfolio. By capping weightings, the firm aims to ensure adequate diversification, avoiding overexposure to any one asset.

Ark has actively adjusted its asset allocation to maintain balance across its funds seeing that ARKB’s value has surged up 26.5% year-to-date.

As of Monday, ARKB traded at $63.25, reflecting a 0.8% gain for the day. This rise mirrors broader optimism in the Bitcoin market, with Bitcoin itself trading flat but holding steady at around $63,676.

US spot Bitcoin ETFs see strong inflows

While Ark continues to manage its Bitcoin exposure, US spot Bitcoin ETFs are experiencing strong inflows, with a net addition of $4.5 million on Monday alone, extending their positive streak to three consecutive days.

In contrast, US spot Ethereum ETFs have seen the largest outflows since July.

Ark Invest’s strategic rebalancing underscores its commitment to diversification while navigating the ever-evolving landscape of digital assets.

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Bitcoin wallets dormant for 15 years suddenly move BTC

  • Satoshi era bitcoin wallets dormant since 2009, have just moved 250 BTC to new wallet addresses.
  • The five wallets transfered BTC in batches of 50 coins each.
  • Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges.

Several Bitcoin (BTC) miner wallets that have been dormant for over 15 years suddenly woke up and have moved 250 BTC worth over $15 million.

The so-called ‘Satoshi era’ wallets are miner addresses created in the years that Bitcoin creator Satoshi Nakamoto actively mined BTC. Such wallets date back to 2009 – five of which just transferred 50 bitcoin each to new addresses.

On-chain transactions tracker Whale Alert highlighted each of the five 50 BTC wallet movements early Sept. 20. In total, five wallets had transferred coins worth $15.9 million to new wallets.

Lookonchain shared a screenshot of Whale Alert’s posts about the dormant coins. In this case, each of the miner addresses received bitcoin as mining rewards in 2009. Not one of these wallets transacted since that first transaction.

Notably, none of the new wallets had moved the coins to a crypto exchange as of writing.

In March 2024, a Bitcoin wallet dormant for over 12 years, suddenly woke up to move 500 BTC. Another wallet dormant for over 10 years, suddenly activated in April 2023.

Bitcoin price

The movement by these ‘Satoshi era’ BTC wallets come as Bitcoin price recovered to above $64,000 amid market reaction to this week’s Federal Reserve interest rate cut. The benchmarket cryptocurrency has over the past few months struggled to break higher – with a major dip to below $50k seen on August 5, 2024.

Commenting on price outlook, crypto analyst Ali Martinez says its likely traders may want to take profits at current prices.

BTC price tounched highs of $64,140 on Coinbase early Friday, September 20, 2024. However, it changed hands around $63,513 at the time of writing.

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WIF, PEPE, and SEI shine as cryptocurrencies surge

  • WIF, PEPE and SEI were among top performing altcoins as Bitcoin surged to above $63,800 on Sept. 19.
  • These gains followed US Federal Reserve’s 0.5% interest rate cut.
  • Analyst says WIF could outpace market in coming weeks.

Meme coins dogwifhat (WIF) and Pepe (PEPE), as well as layer 1 blockchain Sei (SEI) are among the top gainers in the past 24 hours as several altcoins record their best performances for a while.

SEI was up 19%, WIF 17% and PEPE 12% as crypto rose amid Bitcoin’s surge to above $63,000 on Thursday.

According to data from CoinGecko, SEI price reached highs of $0.35 as its volume jumped 224% to over $345 million. Meanwhile, WIF traded to $1.81 across major exchanges, notching an intraday volume of over $717 million with a 24-hour increase of 109% at the time of writing.

Popcat (POPCAT), which has rallied since Kraken announced spot trading support, continued to outpace all other top 100 coins by market cap. However, meme coin Pepe also recorded decent gains to rank among best performers on the day. PEPE price jumped more than 12% to hit levels last seen on Aug. 28.

According to crypto analyst RookieXBT, dogwifhat price has the potential to pare losses seen during its recent downtrend within weeks. Notably, the analyst also sees further gains for POPCAT.

Crypto spikes after Fed interest rate cut

Most of the coins seeing significant gains in the past 24 hours are registering the upside after the market reacted upward to the US Federal Reserve’s interest rate cut on Sept. 18. After four years, the Fed slashed interest rates by 50 basis points on Wednesday.

Bitcoin price rocketed after the decision, with BTC first breaking above $60k to bolster overall sentiment. Prices retested resistance around $62.2k before a slight dip – then roared back to above $63.8k.

Solana (SOL) broke above $143 with over 10% gains, while altcoins such as Sui, Aptos, Bittensor and Avalanche recorded more than 12% respectively.

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Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

  • Bitcoin has broken past $62K post-Fed rate cut; next resistance at $63K.
  • Ethereum and Solana have also surged, reflecting a broader crypto market rally.
  • Caution remains due to economic uncertainties and potential regulatory issues.

Bitcoin (BTC) price has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

The move by the Fed, aimed at bolstering economic growth and mitigating recession risks, has ignited a rally across digital assets. The monetary policy adjustment has not only energized Bitcoin but also lifted a broad range of altcoins and risk assets.

Next Bitcoin (BTC) price resistance level at $63k

Currently trading around $62,096, Bitcoin’s price has demonstrated a solid 24-hour gain of 2.29% and a more impressive 7-day increase of 6.20%.

Most notably, the price breach above the $62,000 mark represents a crucial psychological milestone for Bitcoin, following a period of consolidation near $60,000.

Technical analysis highlights that Bitcoin’s next significant resistance level is positioned at $63,000, with the potential for further gains if this barrier is surpassed. The upper boundary of Bitcoin’s Bollinger Bands indicates heightened volatility, suggesting that while a short-term profit-taking phase may occur, the overall trend remains strongly bullish.

Support is firmly established at around $60,100, acting as a critical floor that has been repeatedly tested and held firm.

Investor sentiment towards Bitcoin is largely positive, with increased trading volumes reflecting growing institutional interest.

As Bitcoin’s (BTC) price continues to climb, it benefits from a broader narrative of cryptocurrencies serving as a hedge against traditional market volatility and inflation fears, which have been exacerbated by the Fed’s dovish stance.

Ethereum and Solana lead as altcoins mirror Bitcoin’s surge

The rate cut by the US Federal Reserve has not only impacted Bitcoin price but has also spurred a broader rally in the cryptocurrency market, lifting major altcoins alongside Bitcoin (BTC).

Ethereum (ETH), for instance, has surged past $2,400, marking a 24-hour increase of 4.94% and a 7-day rise of 2.97%. Ethereum’s price reached $2,430 before settling slightly, mirroring Bitcoin’s bullish trend. Technical indicators show Ethereum facing immediate resistance at $2,430, with potential for further gains if it breaks above this level.

Solana (SOL) has also seen significant price movements, surging by 6.03% to reach $138.65. This gain underscores renewed confidence in Solana’s ecosystem and its applications in decentralized finance (DeFi) and NFTs.

Other altcoins, such as Ripple (XRP) and Shiba Inu (SHIB), have also experienced notable increases, with XRP rising by 1.20% to $0.59 and SHIB climbing 7.85% to $0.00001427.

Analysts remain cautious

Despite the overall positive sentiment, market participants remain cautious. Mixed reactions and concerns about the sustainability of the rally are prevalent. Analysts suggest that while the rate cut has provided a significant short-term boost, the broader economic uncertainties and potential regulatory challenges could impact future performance.

In particular, Presto Research notes that the market remains divided, highlighting the need for relief from growth concerns to maintain upward momentum.

Amid the mixed market outlook, the coming months will be critical in determining whether the current Bitcoin (BTC) price rally can sustain momentum and push digital assets to new highs.

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Bitcoin price jumps to a three-week high

  • Bitcoin price has surged 5.6%, hitting a three-week high of $61.1K on Tuesday morning.
  • Altcoins like Celestia, Immutable X, and Near have seen double-digit percentage gains.
  • Crypto stocks have risen modestly ahead of the Fed’s expected rate cut announcement.

Bitcoin price has surged to its highest level in three weeks, triggering gains across the cryptocurrency sector and related stocks. It soared 5.6%, reaching $61.1K by 11:55 a.m. ET before pulling back to around $61k.

Bitcoin price jumps to a three-week high

The surge marks a sharp reversal from the quiet start to the week, signalling renewed interest in digital assets.

Altcoins and Bitcoin price soaring ahead of Fed cuts

Besides Bitcoin, other major cryptocurrencies have also seen significant gains, with Ethereum (ETH) advancing 4.2% to $2.38K.

Notably, some altcoins have outpaced the larger tokens. For example, Celestia (TIA) has seen a 15.7% increase, Immutable X (IMX) has risen by 14.8%, Near Protocol (NEAR) is up 9%, Uniswap (UNI) has climbed 8.9%, and Sui (SUI) has gained 8.1%.

The rally comes just ahead of the Federal Reserve’s highly anticipated decision on interest rates.

Market analysts widely expect the central bank to lower rates for the first time in four years. With inflation largely under control and the labour market showing signs of cooling, many believe the Fed will adopt a more accommodative stance.

Lower interest rates are typically bullish for cryptocurrencies, as reduced borrowing costs make traditional savings and investment vehicles less attractive. As a result, investors often turn to riskier assets like cryptocurrencies in search of higher returns.

Crypto-focused stocks also surge

Crypto-focused stocks have also benefited from Bitcoin’s rally, though their gains were generally more modest compared to digital tokens.

MicroStrategy (MSTR), a company known for holding large reserves of Bitcoin, inched up by 0.6%.

Crypto exchange platform Coinbase Global (COIN) has risen by 3%, while crypto investment firm Galaxy Digital (OTCPK) has gained 5.4%.

In the crypto mining sector, Riot Platforms (RIOT) has advanced 2.4%, MARA Holdings (MARA) has risen by 1.9%, and HIVE Digital Technologies (HIVE) has climbed 4.3%. Bit Digital (BTBT) saw the largest jump, gaining 13%, followed by Hut 8 (HUT) with a 6.6% rise and CleanSpark (CLSK) up 3.1%.

As the broader stock market also experience buying pressure ahead of the Federal Reserve’s pivotal decision, the crypto sector continues to ride the wave of optimism surrounding the potential for lower rates and increased investment in digital assets.

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