A new force is behind shiba inu’s most recent price surge.
Taproot, the Bitcoin blockchain's biggest upgrade in four years, is coming in November, and cryptocurrency market analysts say the event could highlight the network's slow-going approach to advancements at a time when development is moving fast on rival blockchains.
The cryptocurrency is up 4% over the last 24 hours, trading around $62,900.
If one wants exposure to bitcoin, the purest play is buying bitcoin itself. Everything else comes with its own idiosyncrasies.
The previous SHIB pump in early May was followed by a market-side sell-off
Bitcoin (BTC) continued lower on Friday after reaching an all-time price high earlier this week. Traders expect pullbacks to remain limited, and some are eyeing ether (ETH), which has outperformed bitcoin this week.
The new ETF follows the launch earlier this week of the ProShares Bitcoin Strategy Fund (BITO), giving stock investors a way to bet on bitcoin after years of waiting by the crypto industry.
While the bitcoin market valuations are not cheap, they are not overstretched either.
The total market capitalization of all cryptocurrencies reached an all-time high on Thursday as bullish momentum has returned.
Bitcoin's derivatives market is showing signs of overheating
Crypto options market indicates that some traders have become more bullish on ether’s price next year.
Bitcoin (BTC) reached an all-time high around $66K on Wednesday, which could yield further upside toward $86K according to technical indicators. Upside momentum is improving, although overbought signals could precede a brief pullback.