Latest news with #BTCMarkets
Sky News AU
2 days ago
- Business
- Sky News AU
Bitcoin ‘fighting with Amazon' to make it the fifth largest asset globally
BTC Markets crypto analyst Rachael Lucas discusses Bitcoin reaching a record high value and continuing to climb. Ms Lucas told Sky News Australia that one thing Bitcoin has going for it is that it's a 'decentralised asset'. 'It's also what we call a deflationary asset class, whereas there is a fixed supply. 'Bitcoin has now overtaken silver and is now fighting with Amazon to make it the fifth largest asset globally.'
Sky News AU
2 days ago
- Business
- Sky News AU
Bitcoin value sees record high
BTC Markets crypto analyst Rachael Lucas says there is a 'deep structural demand' for Bitcoin. Bitcoin has risen to another record high and continues to climb. Ms Lucas told Sky News Australia that it is not just 'short-term momentum'.
NDTV
2 days ago
- Business
- NDTV
Bitcoin Hits Record High Of $120,000 As Bullish Momentum Builds
Bitcoin breached $120,000 for the first time, with investor optimism increasing almost daily after it emerged from a narrow trading range that had left skeptics wondering whether the original cryptocurrency would regain the record-breaking momentum seen at the start of the year. After surging on the election of Donald Trump to a second US presidential term, Bitcoin had settled into a pattern of fluctuating on either side of $100,000 for several months. Concern about Trump's political and economic policies had helped to temper optimism over the pro-crypto agenda of his administration. Now with other risk assets such as stocks back around record highs, Bitcoin has also resumed its push higher. "This shift signals a maturing perspective on Bitcoin - not merely a speculative asset, but a macro hedge and a structurally scarce store of value," said George Mandres, senior trader at XBTO Trading LLC. "A surge in risk-on sentiment across equities, coupled with significant institutional inflows into spot Bitcoin and Ethereum ETFs, has fueled this steady ascent, notably absent the sharp volatility of previous bull runs." The crypto market bellwether rose as much as 1.9% to $121,344, and is now up about 30% since December. Bitcoin more than doubled last year. Bitcoin's renewed momentum has also spilled over to smaller tokens - second-ranked Ether rose 1.5%, while XRP and Solana both increased about 2.7% around noon in Singapore on Monday. "Bitcoin's cleared $120,000, but the real test is $125,000," said Rachael Lucas, a crypto analyst at BTC Markets. While short-term profit booking can be expected, "the uptrend has fuel" driven by strong demand from exchange traded funds, she added. "Support at $112,000 and any dip looks like a buying opportunity, not a reversal." Helping to fuel the latest rally was the liquidation of bearish crypto bets at the end of the week. Traders who shorted Bitcoin bore the brunt of the rapid damage, with over $1 billion in positions wiped out, according to data from Coinglass. The token rose on the back of anticipation for what a Congressional committee dubbed "Crypto Week," where lawmakers in the US Congress are expected to debate and possibly vote on key cryptocurrency legislation. Some analysts aren't totally sold on the token's continued rise. "In my view, this isn't a macro-driven rally, but rather an isolated event," said Nicolai Sondergaard, a research analyst at Nansen. "That said, recent US policy developments such as fiscal expansion and expectations of further monetary easing have created a backdrop that is undeniably favorable for Bitcoin."
News.com.au
5 days ago
- Business
- News.com.au
Frenzy as Bitcoin rewrites history
Bitcoin is doing its thing again. The world's leading cryptocurrency has rewritten the record books again, hitting a new highest on Friday. The digital asset surged to US$116,868 (A$176,740), marking a 4 per cent gain in the past 24 hours and 6 per cent over the week. It has been a moment of vindication for long-term holders, who have dug their toes in despite the asset's chequered history. In July 2020, was Bitcoin trading around A$13,000. Its previous major local high came during the 2021 bull run, when it hovered around A$94,000 in November. Since then, it's weathered a prolonged bear market, a banking crisis, inflation fears, and a 'crypto winter' that shook the industry to its core. Charlie Sherry, Head of Finance at BTC Markets, attributes the latest surge to a confluence of forces. 'The latest leg of the rally appears to be driven by a combination of continued exchange traded fund (ETF) inflows, strong on-chain activity and renewed institutional interest, particularly in the lead-up to expected Fed rate cuts in Q3,' Mr Sherry said in a statement provided to Momentum is also clearly reflected in recent trading behaviour as hordes of investors clamoured to get their foot in the door. 'Global BTC spot trading volumes surged 23.6 per cent overnight, topping US$51.7 billion in 24-hour turnover,' Mr Sherry noted. The local appetite mirrors that global enthusiasm. 'On the local BTC Markets exchange, we've seen an 18.4 per cent lift in AUD-denominated BTC volume day-on-day, with BTC/AUD now accounting for the majority share of local crypto trading activity.' Retail and institutional traders alike appear to be moving decisively. 'We saw a significant increase in AUD deposits onto the platform over the past week, reflecting early positioning and strong directional conviction. This continued strength in our order books captures both retail and wholesale demand as investors rotate into the next phase of the cycle.' From a technical lens, Bitcoin's current trajectory suggests the rally still has fuel in the tank. 'From a technical perspective, the immediate support is now at the previous breakout level of US$113,000, with resistance sitting at US$120,000, followed by US$128,500, a key Fibonacci extension level based on the last macro swing,' Mr Sherry said. But the spotlight isn't solely on Bitcoin. 'While Bitcoin leads from the front, attention is beginning to shift towards the broader market. Ethereum is up 7.23 per cent on the day, testing key resistance at US$3,000, and Solana has reclaimed US$164, suggesting risk appetite is broadening.' It's what traders have come to call an 'alt season', where a rise in bitcoin also prompts gains in other assets. 'Historically, this kind of rotation has preceded the start of an alt season, where capital flows from Bitcoin into higher-beta assets. We're not quite there yet, but the foundations are forming, particularly as Ethereum outperforms in short bursts and Layer 1 network activity increases,' Mr Sherry explained.
South China Morning Post
07-04-2025
- Business
- South China Morning Post
Bitcoin, ether rout extends as tariff war pain batters cryptocurrency assets
Cryptocurrencies sold sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets. Advertisement Bitcoin shed about 7 per cent of its value from Sunday night through to Monday morning in Singapore to reach a low point of US$77,077. Second-ranked token ether plummeted to US$1,538, an intraday low not seen since October 2023. Both bitcoin and ether later pared losses. The slide comes as US President Donald Trump dug in on sweeping tariffs that have already wiped trillions in value from US equities. US equity-index futures slumped and the yen surged in a sign of deepening turmoil throughout financial markets. 'For a moment, it seemed as though crypto might hold steady, but with the 24/7 nature of crypto markets, investors woke up on Sunday in full 'sell mode',' said Charlie Sherry, head of finance and cryptocurrency analyst at BTC Markets in a research note. Advertisement Coinglass data show about US$758 million worth of bullish cryptocurrency wagers were liquidated in the past 24 hours, the most in nearly six weeks.
