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Bitcoin Today 10/15/2024: BTC remains above US$65,000 and the crypto market remains optimistic
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The price of Bitcoin reached its highest level in more than two weeks as it briefly surpassed the $66,000 mark. This movement reflects a mostly optimistic market sentiment. On Monday night (14), BTC reached the value of US$66,500, according to data from CoinGecko. This is the highest level since the end of September, when the price also came close to this value, but encountered resistance and retreated.
During the morning of this Tuesday, (15), Bitcoin registered a slight correction, being traded at US$ 65,400 at the time of writing this article. Still, BTC accumulates a daily increase of around 1.0%.
So-called altcoins also operate higher this Tuesday. Ethereum, for example, registers a daily appreciation of 2.2% and is costing US$2,594. Most other cryptocurrencies in the Top 10, including BNB, Solana, XRP and Dogecoin also rose by up to 1%. The only cryptocurrency among the top 10 to record a decline is TRON (TRX) with a daily decline of around 1%.
As a result, the global market value of cryptocurrencies stands at US$2.38 trillion, with a daily increase of 0.2%, according to CoinGecko.
Optimistic market with Bitcoin
On October 15, CryptoQuant CEO Ki Young Ju shared a chart indicating that “apparent demand” – which corresponds to the difference between production and changes in inventory – is at levels similar to those seen during the March and April peaks. this year. Ju explained that, when the decrease in stock exceeds production, or issuance via mining, demand for the asset tends to increase.
Another indicator of optimism is the Fear and Greed Index, which reached the mark of 65, signaling a market in “greed”. Furthermore, HODL15Capital analysts highlighted that the month of October, dubbed “Uptober” by the cryptocurrency community, continues to show gains in the market, which has already occurred in nine of the last eleven years.
This optimism has been partly driven by statements from Larry Fink, CEO of BlackRock, who suggested that Bitcoin could become as relevant as the US housing market. During a BlackRock third-quarter earnings call, Fink stated that the use of digital assets is expected to become increasingly common across the world, regardless of the outcome of the US presidential election.
Metaplanet, often compared to Asia’s MicroStrategy, has announced a new Bitcoin acquisition. The Japanese investment firm acquired an additional 107 BTC worth $7 million on October 15, bringing its total to 855.4 BTC, with an estimated value of $56 million at current prices.
Metaplanet began its Bitcoin purchasing strategy in May and, since then, its shares have already increased in value by 280%. Last week, after the announcement of the new purchase, the company’s shares rose around 15%.
Bitcoin Today 10/15/2024: BTC remains above US$65,000 and the crypto market remains optimistic
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Bitcoin Today 10/15/2024: BTC remains above US$65,000 and the crypto market remains optimistic
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Bitcoin Today 10/15/2024: BTC remains above US$65,000 and the crypto market remains optimistic
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Bitcoin Today 10/15/2024: BTC remains above US$65,000 and the crypto market remains optimistic