Page 122 - Bitcoin News Today

Crypto holding of Indian investors, which today stands at nearly $4 billion, is predicted to double as Bitcoin (BTC) prices are expected to touch new all-time highs after the halving day in April and Ethereum (ETH) ETFs are likely to get approval soon.

The cryptocurrency has risen 16.3% so far this year, on Monday touching its highest since Dec. 27, 2021. At 12:56 p.m. EST (1756 GMT), bitcoin was up 4.96% on the day at $49,899, having oscillated around the $50,000 level.

The dollar flirted with the psychological threshold of 150 yen on Tuesday and held broadly steady ahead of a key reading on U.S. inflation due later in the day, while bitcoin hovered around the $50,000 mark for a second day running. The yen, which has already tumbled more than 5% against the dollar year-to-date, is under persistent pressure as investors pare back their expectations of the scale and pace of the Federal Reserve's easing cycle.

The price of Bitcoin tripled in value since the start of 2023, driven by optimism around the approval of Bitcoin ETFs.

Trading was largely subdued early in Asia with markets in China and Hong Kong still closed for the Lunar New Year holidays and as traders stayed on guard ahead of Tuesdays release of consumer prices data in the worlds largest economy.

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand.By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.

Bitcoin has surged above the $50,000 mark for the first time in more than two years, propelled by optimism surrounding potential interest rate cuts later in the year and recent regulatory approval for US exchange-traded funds (ETFs) linked to its price.

Bitcoin jumped to US$50,000 for the first time in more than two years, staging a remarkable comeback from a series of cryptocurrency industry scandals and bankruptcies that had raised questions about the viability of digital assets.

Bitcoin rose above $50,000 today, and several analysts weighed in whats next for the digital currency, emphasizing crucial developments and offering technical analysis.

WASHINGTON: Bitcoin hit the US$50,000 level for the first time in more than two years as the world's largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month's regulat