Bitcoin
Bitcoin FOMO Starting To Peak As BTC Witnesses Massive Spike in Profit-Taking Transactions: Santiment
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1 day agoon
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adminA prominent analytics firm says FOMO (fear of missing out)-driven crypto investors are diving head first into Bitcoin just as crypto traders unload their BTC stacks.
Santiment says on the social media platform X that Bitcoin’s rise of close to $90,000 in the last few days has rekindled the optimism of BTC holders.
According to the analytics firm, FOMO for BTC is starting to peak as market participants anticipate a potential Bitcoin surge to a six-figure price level.
“Bitcoin’s rise has been so rapid that traders are now speculating how quickly we see a $100,000 market value. Though this price was beyond comprehension just two-three months ago, the community has quickly changed its tune after a +70% surge since the August 5th crash.”
As Bitcoin prints a new all-time high, Santiment notes that traders who positioned before the upside burst are using the rally to offload their coins.
“Bitcoin is seeing a massive spike in profit-taking transactions as traders attempt to sell at the top. Meanwhile, funding rates on Binance and Bitmex indicate aggressive margin and leverage longs looking to capitalize on further rises.”
Even amid the market exuberance, Santiment notes that Bitcoin can still push to much higher levels as long as deep-pocketed investors continue to add to their BTC stacks.
“In the past year, whale and shark wallets with at least 10 BTC have accumulated a total of 234,150 (now worth $19.76B).
Cryptocurrency’s ascension can largely be attributed to the continued confidence and accumulation of these large key stakeholders. However, the crowd’s consistent FUD (fear, uncertainty and doubt), capitulation, and inconsistent faith in crypto (allowing whales to buy cheap) have also contributed to this historic run.
Currently, euphoria is high (though not nearly at the levels of mid-March when Bitcoin was in its previous all-time high cycle). Expect that prices can climb as long as whales continue buying more and the retail crowd keeps selling them their cheap coins during small dips.”
At time of writing, Bitcoin is trading for $87,964, down over 1% on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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$180,000 Bitcoin Incoming As BTC Enters ‘Blue Sky Territory,’ Says VanEck Executive – Here’s His Timeline
Published
2 hours agoon
November 14, 2024By
adminThe head of digital assets research at exchange-traded fund (ETF) provider VanEck believes Bitcoin (BTC) is heading even higher this cycle after putting up massive gains.
In a new interview on CNBC’s Squawk Box, VanEck executive Matthew Sigel says that Bitcoin may soar more than 102% from its current value.
“We think it’s just started. As we expected, Bitcoin saw this high volatility pump after the election. We’re now in blue sky territory, no technical resistance, and we think we’re likely to make repeated all-time highs over the next two quarters. The same pattern played out four years ago. Between the election and the end of the year in 2020, Bitcoin doubled. There were about six 10% corrections. So it’s not going to be a straight line. But we’re up 30% so far, and the number of indicators that we track are still flashing green for this rally to continue.”
Sigel predicts Bitcoin will continue to soar to a high of $180,000, in part due to the election of pro-crypto Donald Trump as US president. He also says that deep-pocketed investors are increasingly looking to gain exposure of the top digital asset my market cap.
“This is a state change in terms of government support…
The number of calls that I’m getting inbound from investment advisors who are at zero and looking to get to 1% or at 1% and looking to get to 3%, these calls are starting to accelerate, and we think the flows are going to follow.
Our price target for this cycle is $180,000. We think we can reach that next year. That would be 1,000% return from the bottom to the peak this cycle. That’s still the smallest Bitcoin cycle by far.”
Bitcoin is trading for $88,723 at time of writing, up more than 145% in the last year.
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Bitcoin
Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
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November 14, 2024By
admin“This report tells the story of progress and calculated risk, the use of a diverse set of strategies to leverage opportunities and most of all, the continued belief in the market’s long-term potential to reshape traditional financial markets” Lucas Schweiger, Sygnum Digital Asset Research Manager and report author, said in the press release shared with CoinDesk.
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BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc
Published
14 hours agoon
November 14, 2024By
adminCrypto ETF issuer and asset manager BlackRock announced on Wednesday the expansion of its USD Institutional Digital Liquidity Fund (BUIDL) to include five new blockchain ecosystems: Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
Initially launched on the Ethereum network in March 2024, BUIDL rapidly gained traction among investors, becoming the largest tokenized fund globally regarding assets under management (AUM) within just 40 days.
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The expansion will allow BUIDL to interact with more blockchain-based financial products and infrastructures. BlackRock aims to enhance accessibility for investors, decentralized autonomous organizations (DAOs), and digital asset firms, enabling them to leverage BUIDL within the ecosystems of their choice.
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Carlos Domingo, CEO and co-founder of Securitize, the firm responsible for tokenizing BUIDL, emphasized the importance of this multi-chain approach in Wednesday’s press release by saying:
Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem. With these new chains we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.
With the addition of these blockchains, BlackRock aims to provide increased options and access for investors, allowing developers to build applications that integrate seamlessly with the BUIDL fund.
BNY Mellon, which recently received a Bitcoin and crypto custody license for institutional services, will play a key role in this initiative as the fund administrator and custodian for BUIDL.
BlackRock Bitcoin ETF Achieves Unprecedented Growth
On the crypto ETF front, BlackRock’s Bitcoin ETF, IBIT, has reached a remarkable milestone, surpassing the $40 billion mark in assets under management (AUM) just two weeks after hitting $30 billion.
This achievement comes in a record 211 days, shattering the previous record of 1,253 days held by the iShares Core MSCI Emerging Markets ETF (IEMG).
IBIT is now positioned in the top 1% of all ETFs by assets and at just 10 months old, it has outperformed all 2,800 ETFs launched in the past decade, according to ETF expert Eric Balchunas.
Balchunas further highlighted that Bitcoin ETFs collectively have crossed the $90 billion asset threshold, following a significant $6 billion surge in the past few days.
This increase comprises $1 billion in new inflows and $5 billion in market appreciation. The growing popularity of Bitcoin ETFs indicates that they are now 72% of the way toward surpassing gold ETFs in total assets.
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The rise in Bitcoin ETF assets has coincided with a surge in investor confidence, particularly following Donald Trump’s recent victory over Kamala Harris in the presidential elections.
This political shift has positively influenced market sentiment, contributing to a broader uptick in cryptocurrency prices. Bitcoin, in particular, has experienced a substantial rally, climbing over 24% to reach a record high of $93,000 in the past week alone.
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