Due to other commitments we are serving this Bitcoin (BTC) lunch a little earlier than usual, but since it contains important announcements we didn’t want to keep them from you. So, after the live Bitcoin price and the prices of the top 25 crypto, we will continue directly with the most important Bitcoin (BTC) news of today and perhaps of the coming period. BlackRock is, in fact, going to offer a Bitcoin investment fund. After that, we take a look at the situation among Bitcoin miners and finally, we look ahead to the weekend.
We start of course with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices top 25 crypto are a surprise today
Normally we start with an update on the live Bitcoin (BTC) price and prices of the top 25 crypto.
Since we prepared this Bitcoin lunch a bit earlier than usual, that is not possible today. With that, the live Bitcoin (BTC) price and current prices of the top 25 crypto are still a surprise for a while. Of course, you can check them 24 hours a day on the Tradeincrypto.com website.
BlackRock announces Bitcoin spot private trust
After announcing its partnership with Coinbase, people were already speculating about further moves by the world’s largest asset manager into crypto. Those speculations did not have to last long, as last night BlackRock announced in a statement that they are opening a spot Bitcoin private trust. For now, it will only be accessible to US institutional investors.
With this, analysts expect a large influx of new institutional capital and a price appreciation for Bitcoin (BTC). A doubling of the price in the short term is not ruled out by analysts such as Cathie Wood.
A good indicator for this is the price jump of the Energy Web Token (EWT). Indeed, BlackRock announced that it will use this platform to provide more transparency about the use of renewable energy in Bitcoin mining. The result was a price jump of over 40% for the unknown token.
BTC miners perform well and appear to be regaining confidence in currency
In addition to this good news, we see that Bitcoin miners also seem more positive. For example, we see from the on-chain metrics that they are mining more Bitcoin than they are taking to the exchange. This indicates that they prefer to keep the BTC they don’t need to recover their operational costs because they expect higher BTC prices in the future, which is a bullish signal.
At the same time, we see that investors in Bitcoin miners are also regaining confidence. Most stocks continued to rise yesterday after Wednesday’s good results following the announcement of the inflation figures. This allowed many investors to record positive returns.
Bitcoin (BTC) price up for quiet weekend?
For now, despite all the positive developments above, we see no indication that investors in Bitcoin (BTC) are reacting very enthusiastically. We see little interest among whales to sell the coin, but for now we also see few new buyers flowing into the market.
With that, the Bitcoin (BTC) continues to struggle with the resistances between $24,000.00 and $25,000.00 as we discussed in our BTC lunch yesterday. With that, the eyes for a bullish price trend are set on breaking those resistances.
If that fails, the question is how far the Bitcoin (BTC) price will be thrown back if it hits its head against one of these resistances. Therefore, as long as the price can stay above its 200-week moving average (around $22,900), we seem to be in for a quiet, consolidating weekend.
Keep up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time.
Note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.