* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 11, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Analyst Verdict: PENN Entertainment In The Eyes Of 7 Experts – Nasdaq

    7 Experts Reveal the Ultimate Verdict on PENN Entertainment

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Russian Scientists Develop Sub-Ångström Technology for Next-Gen Quantum Processors – The Quantum Insider

    Russian Scientists Pioneer Sub-Ångström Technology to Revolutionize Next-Gen Quantum Processors

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Analyst Verdict: PENN Entertainment In The Eyes Of 7 Experts – Nasdaq

    7 Experts Reveal the Ultimate Verdict on PENN Entertainment

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Russian Scientists Develop Sub-Ångström Technology for Next-Gen Quantum Processors – The Quantum Insider

    Russian Scientists Pioneer Sub-Ångström Technology to Revolutionize Next-Gen Quantum Processors

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Bitcoin touches an all-time high above $69,000 then falls 5%

March 5, 2024
in General
Bitcoin touches an all-time high above $69,000 then falls 5%
Share on FacebookShare on Twitter

Jaap Arriens | NurPhoto | Getty Images

Bitcoin has reached a new all-time high for the first time in more than two years, as this year’s rally — fueled by excitement over bitcoin ETFs and the upcoming halving event — accelerated.

The price of the cryptocurrency topped $69,210 on Tuesday morning before retreating, according to Coin Metrics. It was last trading lower by 4.9% at $64,345.91. The flagship crypto notched it previous record of $68,982.20 on Nov. 10, 2021 — about a year before the catastrophic failure of FTX plagued the crypto industry in what some call crypto’s Lehman Brothers moment.

“Bitcoin reclaiming its all-time high yet again shows it is never going away,” said Alex Thorn, head of research at Galaxy Digital. “In its 15 years of existence, bitcoin has seen four 75% [plus] drawdowns, and each time it has come roaring back.”

Clara Medalie, research director at crypto data provider Kaiko, echoed that sentiment, saying a new record is “an important psychological milestone” and “demonstrates crypto’s remarkable ability to bounce back and continue to persevere despite big headwinds.”

“Bitcoin becomes more useful as it grows more valuable,” Thorn added. “At higher market caps and daily float, it can support larger allocations. Bitcoin’s volatility has consistently decreased over time, allowing allocations to take larger position sizes.”

Stock Chart IconStock chart icon

hide content

Bitcoin rockets to a new all-time high

Since the beginning of February, investors have been watching key themes in the bitcoin narrative push its price higher.

Catalysts driving the surge in the cryptocurrency include the U.S. spot bitcoin ETFs that started trading earlier this year, along with the tightening bitcoin supply ahead of the late April “halving.” This event is designed to create a scarcity event around the asset. The flagship crypto’s upward trend accelerated this week.

The new record is a triumph for an industry that has long suffered from reputational and regulatory risk that seemed to be at its worst just two years ago, when bankrupt crypto lenders dragged down crypto investors and crypto exchange FTX collapsed. At the end of 2022, as traders were trying to gauge the potential extent of the FTX contagion, bitcoin fell to a two-year low. The cryptocurrency fell 64% that year and has been fighting to prove its legitimacy since.

“The odds have always been against bitcoin,” Thorn said, citing naysayers who have referred to it as “a bubble” and compared it to the “tulip mania” in Holland during the 1600s. “The people show time and time again that they want a decentralized, programmatic, scarce digital currency.”

It also could signal the start of a new wave of retail investors re-engaging with the crypto market, said Needham analyst John Todaro.

“Retail interest is oftentimes momentum driven, and all-time high levels are a pivotal momentum driver for even more investment,” he told CNBC. Additionally, “this could lead to more capital flows, ironically, into altcoins that comparatively start to look cheaper,” he said.

Crypto, led by bitcoin, made a strong recovery in 2023, advancing 157%. The digital asset initially received a boost from the regional banking crisis in the U.S., and it caught a tailwind from speculation at the time that ETFs tracking bitcoin prices would receive approval from the Securities and Exchange Commission.

Some investors remain skeptical about the young crypto asset class, how to value it or whether it has any intrinsic value. Nevertheless, U.S. spot bitcoin ETFs have brought legitimacy to it and been hugely popular, with BlackRock’s iShares Bitcoin Trust (IBIT) passing $10 billion in assets under management last week.

However, with bitcoin on a hot streak, investors entering the market here should tread carefully as unrealized profit margins approach extreme levels.

“The market is positioned for a steep correction, possibly between 10% and 20%,” said Ed Tolson, CEO and founder of the crypto hedge fund Kbit. “Any material move down will result in cascading liquidations on the crypto perpetual swap markets, where retail has piled into levered long positions. This will drive funding rates very high. Over the next few quarters, we expect bitcoin to perform well, but with sharp corrections along the way.”

Oppenheimer’s Owen Lau agreed.

“The rise is so much so fast that we are cautious about a correction,” he said. “But longer term, there are still catalysts supporting the positive price action.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CNBC – https://www.cnbc.com/2024/03/05/bitcoin-all-time-high.html

Previous Post

I live in Manhattan and my rent keeps going up—how I negotiated a deal with my landlord that saved me $600

Next Post

New CFPB rule caps banks’ credit card late fees at $8

Two major ecological shifts shaped 60 million years of ungulate faunal evolution – Nature

How Two Major Ecological Shifts Reshaped 60 Million Years of Ungulate Evolution

June 11, 2025
Letter: Cutting funding for science research will have far-reaching consequences – InForum

Letter: Cutting funding for science research will have far-reaching consequences – InForum

June 11, 2025
Whitesides says budget proposal shows the administration does not value NASA science – SpaceNews

Whitesides Slams Budget Proposal for Undermining NASA Science

June 11, 2025
Lifestyle publishers rewrite the SEO playbook for AI-driven search – Digiday

Lifestyle publishers rewrite the SEO playbook for AI-driven search – Digiday

June 11, 2025

David Squires on … Infantino’s Club World Cup buildup in the land of Trump – The Guardian

June 11, 2025
America must lead on the gig economy — or others will set the rules – Washington Examiner

America must lead on the gig economy — or others will set the rules – Washington Examiner

June 11, 2025
The Analyst Verdict: PENN Entertainment In The Eyes Of 7 Experts – Nasdaq

7 Experts Reveal the Ultimate Verdict on PENN Entertainment

June 11, 2025
Amarillo breaks ground on psychiatric hospital, part of the state’s $1.5B investment in mental health – The Texas Tribune

Amarillo Unveils State-of-the-Art Psychiatric Hospital in Texas’ $1.5 Billion Mental Health Expansion

June 11, 2025
Smithsonian says it’s committed to being free from ‘partisan influence’ after Trump tries to remove gallery director – CNN

Smithsonian Vows to Stay Independent After Trump Attempts to Oust Gallery Director

June 11, 2025
Russian Scientists Develop Sub-Ångström Technology for Next-Gen Quantum Processors – The Quantum Insider

Russian Scientists Pioneer Sub-Ångström Technology to Revolutionize Next-Gen Quantum Processors

June 11, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (681)
  • Economy (695)
  • Entertainment (21,600)
  • General (15,323)
  • Health (9,737)
  • Lifestyle (699)
  • News (22,149)
  • People (696)
  • Politics (702)
  • Science (15,912)
  • Sports (21,196)
  • Technology (15,681)
  • World (680)

Recent News

Two major ecological shifts shaped 60 million years of ungulate faunal evolution – Nature

How Two Major Ecological Shifts Reshaped 60 Million Years of Ungulate Evolution

June 11, 2025
Letter: Cutting funding for science research will have far-reaching consequences – InForum

Letter: Cutting funding for science research will have far-reaching consequences – InForum

June 11, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version