The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.
“Trading volume for BTC Spot ETFs also witnessed an upward trend, with total trading volume reaching $141.7 billion since inception, including nearly $28 billion traded in the last week,” he added. “This translated to a daily trading volume exceeding $5.5 billion during the previous week, contributing to a higher average daily volume since inception, currently standing at approximately $3.15 billion.
“This trend is evident in the decrease of BTC held by long-term holders, referring to BTC that remained unmoved for at least 155 days,” Greco noted. “At the beginning of 2024, this supply was nearly 16.3 million BTC, gradually decreasing to about 15.1 million BTC as of now.
The firm determined these price targets by comparing Bitcoin’s performance with the price of gold after gold ETFs were introduced in the U.S., and by correlating ETF inflows and the BTC price. They also said there is a good chance that the Securities and Exchange Commission could approve the first spot Ether ETFs on May 23, which would lead to inflows of as much as $45 billion in the first 12 months, pushing ETH price to $8,000 by the end of 2024.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin hits new ATH of $70,220 as volatility spikes, whipsaws back below $68kThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Will Bitcoin Halving Increase Price? Everything You Need to KnowCurious is Bitcoin halving will increase its price? Dive into our guide, unraveling the factors influencing Bitcoin's price post-halving.
Read more »
StanChart CEO Contender Cooper Set to Leave in Broad OverhaulA frontrunner to replace Standard Chartered Plc Chief Executive Officer Bill Winters is set to depart as the emerging markets lender pushes through a broader management reshuffle to boost returns.
Read more »
3 Experts Predict Bitcoin Price After Halving in April 2024Gain insights from experts on Bitcoin's price trends after halving. Explore predictions and analysis to stay ahead of your peers.
Read more »
Coinbase Tops Direct Listing Price as Bitcoin Surges to RecordCoinbase Global Inc. has finally climbed back above its direct listing price Friday for the first time in more than two years.
Read more »
Bitcoin, Ethereum, and XRP price predictions for the coming week!Top cryptocurrencies including Bitcoin [BTC], Ethereum [ETH], and Ripple [XRP] have had a great start to March despite earlier predictions
Read more »