tl;dr
Bitcoin Continues Rally, Market Cap Hits $1 Trillion Bitcoin (BTC-USD) is on track to gain 8.6% this week, with its market capitalization surpassing $1 trillion. After breaking the $50K level, the oldest cryptocurrency briefly dipped following a hotter-than-expected CPI report but rebounded to ...
Bitcoin Continues Rally, Market Cap Hits $1 Trillion
Bitcoin (BTC-USD) is on track to gain 8.6% this week, with its market capitalization surpassing $1 trillion. After breaking the $50K level, the oldest cryptocurrency briefly dipped following a hotter-than-expected CPI report but rebounded to cross $52K and reach $52.8K, its highest level in over two years. Inflows of approximately $2B were observed in spot BTC ETFs, with BlackRock's iShares Bitcoin Trust (IBIT) leading the way. Analysts believe that BTC prices are being driven higher by better spot Bitcoin ETF flows, contributing to a broader bullish sentiment and setting sights on $57,000 as the next resistance level. Additionally, notable news includes MicroStrategy's estimated $10B Bitcoin holdings and Peter Thiel's venture capital firm Founders Fund investing $200M in Bitcoin and Ether last year.
Bitcoin, Ether Prices
At the time of writing, Bitcoin inched up by 0.30% to $51.9K and Ether was down by 1.78% to $2.8K.
For more detailed analysis and price predictions for Bitcoin, visit Seeking Alpha's analysts' insights.
More about MicroStrategy Incorporated
MicroStrategy Incorporated is a global business analysis software and services provider, with a market capitalization of approximately $12.99 billion. The stock is currently trading at $384.94 with a price change of $36.3. The company has a beta of 0.865, indicating that it is less volatile than the overall market. MicroStrategy has a relative strength index (RSI) of 596, which suggests that the stock is currently overbought. Despite this, the stock has experienced a decrease of 0.775 or -0.061%. In terms of market sentiment, it is important to consider the potential risks and uncertainties associated with the current analysis, as past market behavior is not always a reliable indicator of future performance.
More about Coinbase Global Inc
Coinbase Global Inc. is a company that provides financial infrastructure and technology for the crypto economy. With a market capitalization of $39.64 billion, the company's stock has shown a 3.21% decrease in the last trading session, closing at $88.29. Overall, the stock has seen a 11.3% increase over the last month, indicating some bullish sentiment in the market. However, with a Relative Strength Index (RSI) of 3.27, the stock is currently considered overbought and may be due for a correction. It's important to note that investing in cryptocurrency-related stocks carries inherent risks, and past performance is not indicative of future results.
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