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  • MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy, the business intelligence company founded by Michael Saylor that;s now the biggest corporate holder of Bitcoin (BTC), has added to its haul of the digital asset.

    On Monday, Saylor announced that the publicly-traded company had acquired another 27,200 BTC for over $2 billion. The news coincided with the surge in Bitcoin price – which reached a new all-time high above $84k.

    Earlier, the world’s largest and most popular cryptocurrency had traded to above $82k. This follows sentiment from the Donald Trump election victory, which continues to create a bullish buzz.

    MicroStrategy its $22 billion in BTC purchases

    The latest Bitcoin purchase for MicroStrategy comes after the company raised $2.03 billion. Earlier, MicroStrategy had revealed plans to raise $42 billion to buy more bitcoins – a scenario that has added to the overall bullish sentiment around the benchmark cryptocurrency.

    Saylor said his company spent these proceeds on buying an additional 27,200 BTC. With this acquisition, which was finalized at the average price of $74,463, MicroStrategy now has a total of 279,420 bitcoins.

    In total, the company has spent $11.9 billion to buy BTC at the average price of $42,692 per coin. At current price of $84,153, MicroStrategy’s Bitcoin holdings amount to over $23.5 billion.

    The BTC has achieved a yield of 7.3% quarter to date and 26.4% year-to-date.

    “Our MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” Saylor posted on X.

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  • Bitcoin spikes to $66k amid ‘Uptober’ sentiment

    Bitcoin spikes to $66k amid ‘Uptober’ sentiment

    • Bitcoin price broke to above $66,000 for the first time in nearly three weeks
    • Cypto analysts at QCP say ‘Uptober’ and the US election sentiment could push bulls higher

    Bitcoin’s (BTC) price rose more than 6% to break above $66,000 on Monday, October 14, 2024, as most cryptocurrencies recorded 24-hour gains.

    According to data from CoinGecko, BTC’s price had reached highs of $66,173 across major crypto exchanges.

    On Coinbase it hit $66,296. The gains came as the flagship cryptocurrency bounced from the uncertainties witnessed the previous week, with Bitcoin bulls seeing a 4% flip in weekly price performance.

    Bitcoin traded around $65,959 on Coinbase at the time of writing, suggesting a potential continuation amid gains across the S&P 500. The issue of China’s stimulus package was also in trader sentiment. In the crypto market, the overall “Uptober” mood looked to have swung in as altcoins also rose.

    BTC chart. Source: TradingView

    Bitcoin surges ahead of US election

    A forecast for BTC by the Singapore-based trading firm QCP Capital suggests BTC is showing price trajectories that mirror previous US election cycles.

    If this trend continues, Bitcoin bulls may target further gains ahead of the November election.

    “Although there could be many factors that could explain today’s move, it is quite an interesting time if we look at historical price action. We are in the middle of October and just three weeks away from the US elections,” QCP said in an update on Telegram.

    The trend in 2016 saw Bitcoin rise from around $600 three weeks to the election to above $1,200 in early January. It happened again in 2020, when BTC rallied from $11k around mid-October to hit $42k in January 2021.

    “After months of trading in the range, will history repeat itself? Today’s rally has definitely given the market a glimmer of hope just as Uptober optimism was fading,” QCP added in the note.

    Bitcoin reached an all-time high of $73k in March, with the rally coming amid halving sentiment and the launch of spot Bitcoin exchange-traded funds (ETFs).

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  • Aave spikes to 5-month high as Bitcoin tests area near $62k

    Aave spikes to 5-month high as Bitcoin tests area near $62k

    • Aave reached a five month high above $143 with a 14% spike.
    • Bitcoin broke to above $61,800, with price gaining 4% amid fresh crypto resilience.

    Aave continued to outperform peers on August 21 with a sharp ascend to its highest level in five months. Meanwhile, Bitcoin price broke above $61,800 with a 4% surge in 24 hours.

    AAVE spikes 14% to hit 5-month high

    Decentralised finance (DeFi) protocol Aave (AAVE) was among the top gainers on Wednesday after surging more than 14% to hit highs of $143. Aave’s native utility and governance token reached the level amid huge whale activity in the past few days.

    There was also positive news for Aave after the DeFi project’s Aave V3 deployed on ZKsync Era Mainnet.

    AAVE price forecast

    Rising to above $143, Aave’s price moved to its highest level since March 2024. This is the period when Bitcoin rode the halving mania and spot BTC exchange-traded funds to reach its all-time high.

    AAVE’s push to current levels means the altcoin could eye fresh gains to the $177-$200 price area. However, the spike in AAVE price has also seen a sell signal flash on the daily chart.

    Crypto analyst Ali Martinez shared this price outlook for AAVE earlier in the day.

    Bitcoin bulls target breakout above $60k

    While Bitcoin has struggled for momentum since the brutal sell-off in early August, bulls have remained largely undeterred. Buyers have shown great resolve in their quest to rally above the $60k.

    In the past 24 hours, the benchmark crypto has climbed to above this crucial level and currently looks set to extend the slight advantage.

    BTC has reached an intraday high above $61,838 on top crypto exchange Bitstamp.

    BTC chart

    The gains have the BTC/USD pair touch the 50-day simple moving average, accentuating the formation of an ascending triangle pattern. In technical analysts, the ascending triangle is seen as a bullish chart pattern where the resistance level follows a horizontal line.

    Meanwhile, swing lows follow a rising trendline that forms a narrowing triangle as price looks to resolve on the upside.

    BTC/USD daily chart. Source: TradingView

    Bitcoin’s daily chart suggests this is the case for BTC since the dip to lows of $49,577 on August 5. Notably, the 50-day SMA currently acts as a robust hurdle. If bulls decisively break higher, price could target the key supply wall around $68,255.

    However, should weakness resurface, the primary support area could be around $58,266 and then $55,800.

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  • Siacoin (SC) spikes to 2-year high amid boost in investor confidence

    Siacoin (SC) spikes to 2-year high amid boost in investor confidence

    • Siacoin (SC) price rose to above $0.02, its highest level since December 2021.
    • SC, the native token of decentralized cloud storage platform Sia, was up 55% in the past week and 120% up over the past two weeks.

    Siacoin (SC) rose to its highest level since December 2021, breaking above $0.02 to mark a two-year high.

    SC, the native token of decentralized cloud storage platform Sia, was among top performers on Friday. With SC/USD changing hands near the intraday highs, the double-digit gains pushed Siacoin’s market cap to above $1 billion. Per CoinMarketCap, Siacoin ranked 70 among largest cryptocurrencies by market cap at the time of writing.

    Today’s gains have pushed the weekly upside for the altcoin to 55%, while it’s 120% up over the past two weeks.

    Why is Siacoin price up today?

    Siacoin’s gains, which put it among top gainers on the day alongside Avalanche DEX platform Pangolin (PNG), comes amid renewed confidence in the future of the project.

    A recent update from the Siacoin Foundation injected optimism within the Sia community. According to the platform’s February 2024 update, there’s a lot in the pipeline for the Sia network.

    Key milestones set to enhance network stability and performance include an upcoming hardfork dubbed Utreexo. The implementation for the hardfork as set in the RHP4 aims at enhancing network scalability and efficiency.

    As SC price rose, the amount of short liquidations increased. According to data from Coinglass, the last 24 hours had seen a total of over $64k in shorts liquidated.

    Meanwhile, Open Interest has increased 21% to $12.77 million amid the buy pressure.

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  • Litecoin price outlook as on-chain activity spikes

    Litecoin price outlook as on-chain activity spikes

    • Litecoin price was down 3% to trade around $67 on Friday morning.
    • Santiment wrote on X that the altcoin has seen a rapid increase in on-chain movement.
    • LTC is seeing a spike in address activity and whale transactions, with metrics at highest levels since June.

    The total crypto market is down 1.5% in the past 24 hours to $1.3 trillion, with Bitcoin hovering just above $34,000. Meanwhile, most altcoins are struggling to hold onto recent gains. 

    But as market observers and analysts put it, the overall outlook is bullish for crypto ahead of what could be a massive bull market in 2024. Could this be the same scenario for Litecoin price?

    Litecoin price outlook- what’s next for LTC?

    Litecoin’s 24-hour price was down 3%, with recent gains trimmed to about 7% over the past week as it traded around $67.80. The psychological $100 continues to prove a difficult hurdle for bulls, despite there being a burst of on-chain activity.

    While address activity and whales both hit June 2023 levels, there has been the observation of dormant LTC suddenly spiking – “usually indicative of more coins beginning to circulate,” the market intelligence platform Santiment wrote in a post on X.   

    The overall bullish picture for Bitcoin suggests investors could be positioning for a potential uptick in its price. Optimism over factors such as spot Bitcoin ETF approval could help LTC rebound past the main supply wall.

    Yet, with dormant coins on the move again, sell-off pressure could be huge in the short term. In this case, a correction could see Litecoin price retreat further, bears likely targeting key support zones in the $60-50 region.

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  • Litecoin (LTC) price spikes as Bitcoin hits $30k

    Litecoin (LTC) price spikes as Bitcoin hits $30k

    • Litecoin price jumped 4% to above $64 on Friday morning.
    • LTC was up as positive sentiment permeated the altcoin market amid Bitcoin’s rally to $30k.

    Litecoin (LTC) rose more than 4% early on Friday amid a positive reaction across the altcoin market to Bitcoin’s fresh spike to $30k. LTC traded to intraday highs of $64 across major exchanges, with daily trading volume hitting $370 million as buyers pushed the total crypto market cap to over $1.17 trillion.

    Why is Litecoin price up today?

    Although a bullish picture has looked increasingly possible with metrics such as Litecoin hashrate jumping to new highs, one of the likely catalysts could be the increased crowd noise on the probability of a spot Bitcoin ETF hitting the market sooner than anticipated. Recent developments involving potential ETF issuers and the US Securities and Exchange Commission (SEC) have added to the growing belief that the first spot ETF is a matter of when and not if.

    That has Bitcoin price poised for takeoff, and as quant trader Charles Edwards pointed out on X today, the flagship cryptocurrency’s positive outlook is enhanced by the several key metrics in this cycle.

    Other catalysts for LTC price today could be the regulation news related to SEC dropping charges against Ripple executives. The SEC sued Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen when it filed a lawsuit against the San-Francisco-based company in December 2020. The agency’s charges against the two were dismissed on Thursday, with the trial scheduled for April next year now not happening.

    LTC looks to have pumped amid a similar reaction across the altcoin market. While Litecoin’s modest gains are dwarfed by the colossal returns for some of the best performing altcoins today – including Bitcoin SV – the bullish flip has analysts pointing to a potential retest of the psychological $100 level if upward momentum holds.

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  • Shiba Inu (SHIB) Price Jumps 10% While Burn Rate Spikes – What To Expect

    Shiba Inu (SHIB) Price Jumps 10% While Burn Rate Spikes – What To Expect

    Shiba Inu (SHIB) coin price jumped 10% in the previous three days. Additionally, the Shiba Inu burn rate spiked at 14,267% early on Thursday.

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  • Shiba Inu Burn Rate Spikes 14,267%, Price Recovers

    Shiba Inu Burn Rate Spikes 14,267%, Price Recovers


    article image

    Wahid Pessarlay
    Shiba Inu’s burn rate massively recovers in the past 24 hours
    Shiba Inu (SHIB) just saw a massive burn rate spike while not many tokens were burned. According to the SHIB Burn tracker, Shiba Inu’s burn rate rose by 14,267.59% in the past 24 hours.

    SHIB Burn Rate
    Source: SHIB BURN

    The spike comes while the number of the burned tokens is still not massive. According to SHIB Burn, around $14.07 million tokens — worth roughly $155 at the time of writing — were sent to dead wallets in the past 24 hours.

    The largest burn transaction in the past day, per SHIB Burn data, is roughly 9.8 million SHIB. Furthermore, only 97,991 tokens were burned the day before.

    With the latest market recovery, Shiba Inu has also gained momentum. At the time of writing, SHIB is trading at $0.000011, up by 7% in the past 24 hours, according to data provided by CoinMarketCap.


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    SHIB’s market cap has also touched the $6 billion mark for the first time in 17 days. 

    The price action comes as the Luxembourg-based cryptocurrency exchange Bitstamp listed the second largest memecoin — top 14 cryptocurrency — for customers in the U.S., as U.Today reported.

    Shiba Inu team has also brought a new concept art, called “Dunes,” to its SHIB Metaverse, U.Today reported on Tuesday.

    On the other hand, a massive Shiba Inu whale, holding 3.3 trillion SHIB tokens — worth roughly $37 million at the time of writing — is on the move. The whale transferred the funds from one anonymous wallet to another.

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