Token

Bitcoin ETF

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Bitcoin is at the highest level since April 2022, trading at $41.28K and up 4.71% in 24 hours. Following this upswing, the broader crypto market is up 3.4% on the last day.</p>
 <h2 class="wp-block-heading" id="strong-bitcoin-breaks-out-above-40k-strong"><strong>Bitcoin breaks out above $40k</strong></h2>
 <p>The $40K milestone has long been a critical physiological area of interest for Bitcoin investors, with many worrying that it may prove to be strong resistance.&nbsp;</p>
 <p>Consequently, many traders had remained partially or wholly sidelined or even been shorting Bitcoin as it approached the $40K mark.</p>
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 <p>However, X commentator Mister Crypto noted that this cautiousness, or even bearishness, is good for Bitcoin. In a recent tweet, the analyst pointed out, “over $3,855,000,000 worth of BTC short positions will be liquidated,” should Bitcoin <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a> above $38.6K.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/L7TR5aT4qz2a7N14Rq7gTXmymQPIo13eCn41MuzKIGQed4vEWecdwHy5OtC3_Js2Pxi5Z6HJatKgOWtjxgSQH13dhlVVxNWD6noUxvr8_ShGsJ0fz_4ifWRXdsb_r5A8eWu_leFSdfQ98UhguGRFTGwQpR2cN-uHt6WyXeS8DLACKvPedL8oIT1u00fcgA" alt="Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m - 1">
 </figure>
 <p>Short liquidations represent the closure of a sell position on an asset, essentially equating to increased buying pressure.</p>
 <p>The analyst was indeed correct, with Bitcoin’s price following a somewhat parabolic trajectory after <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a>ing the $38.6K level and then onwards past $40K.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/-np2-zixvQnOn1Hnmtk7YefLPYkF6fxxK40jXhkc0nD2vXTOTfwn5SKOcZUHG0FEZ68vH0Q0B1W61N54KUHhWK2qKXok-xJuWO3qNiwsQl1fU3RbAniIi3vU-GDQnogO-pAdoj6-UPf022k3VH2WrBYpwJqRhM087qNX9iN2sKIeK5s1luvPg2zsLympEg" alt="Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m - 2">
 </figure>
 <p>The move has sparked massive excitement within the market, with Bitcoin’s open interest spiking by 5.77% over the past 24 hours. Open interest represents the amount of open or outstanding trading contracts on an asset.</p>
 <p>Therefore, Bitcoin’s open interest increasing as it rallies upwards is a sign that the market is gaining confidence and longing, expecting a higher price ahead.</p>
 <p>Following the recent price explosion, Mister Crypto warned traders not to short Bitcoin at its current price but to await a pullback and buy instead. In other words, the analyst suggests that Bitcoin will likely continue to uptrend.</p>
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 <p>Meanwhile, The Kobeissi Letter noted bullish metrics regarding Bitcoin’s recent uptick.</p>
 <p>The <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> highlighted bullish factors like Bitcoin being 175% higher than just over a year ago and its current upward momentum being “by far the strongest we have seen since it hit an all-time high in November 2021.”<img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/adjlxhTGvkoyac_G7G3xpFj8iP4F1aufl-pNvUGs1T59uYrbwqsxnwODuuyRgC5-MlO6MlSqzUcALQ2THLxW5p4m89cGxUgOmWa2nxrMDoVuSP18Q1Im4x7cL16VwBcn6tXmn0hv67AnMKSvfivPbIGFVXLvl-bCzym5dcKFFatvFxa5bKAFbsrFlIzCXQ" width="624" height="425" alt="Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m - 3"></p>
 <p>In a follow-up tweet, the analyst noted, “momentum has become so strong that FOMO buying is back.”</p>
 <p>Evidently, Bitcoin is on a bullish trajectory as it <a rel="noopener noreferrer nofollow" title="breaks" href="https://thebittimes.com/tag/breaks.html">breaks</a> above the crucial psychological level of $40K.</p>
 <p>As such, the weeks ahead could see significant price action, potentially creating a parabolic environment for altcoins to thrive.</p>
 <p>One altcoin on investors’ radar is Bitcoin ETF Token (BTCETF). In the ongoing presale, it has raised nearly $2.5 million.</p>
 <h2 class="wp-block-heading" id="strong-bitcoin-etf-token-raises-nearly-2-5-million-in-presale-strong"><strong>Bitcoin ETF Token raises nearly $2.5 million in presale </strong></h2>
 <p>Bitcoin ETF Token has fresh tokenomics, utility, and aims to thrive under the Bitcoin ETF hype.</p>
 <p>BTCETF is deflationary, featuring two burning mechanisms correlating with Bitcoin ETF milestones.</p>
 <p>First, it will burn 5% of its total supply at five stages of the Bitcoin ETF approvals.<img loading="lazy" decoding="async" width="624" height="285" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/eEyOpTP1QIrKEdSyRV-7HEP1xij-Qp8Pa5LlBoRpTkFP7SkAt-WPSwQZNH0if9IuNT93G6xJIkZ1DRJV9TCHn9aAdnDpiFt1z8U-5wtzRGpTR9XCumMVBNcPhV5tM3IZKmvZPGAXHbO0uiw8Fmq4zR5QLwfh00lixWPWlT8FkniEsnSave1ERnTV3w8cQA" alt="Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m - 4"></p>
 <p>It also <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> a 5% burn tax on transactions, which will reduce by 1% at each stage.</p>
 <p>These phases have been selected to commemorate key advancements, including when the first Bitcoin ETF is approved and when there is over $100 million in BTC ETF trading volume.</p>
 <p>Bitcoin ETF Token also supports staking and offers users a 104% APY. However, this will decrease as the staking pool grows.</p>
 <p>Lastly, the project provides Bitcoin ETF alerts, pulling the latest news and updates from around the internet into its website.</p>
 <p>This makes the project a Bitcoin hub, aiming to foster an active and engaged community.</p>
 <p>Investors can buy BTCETF for $0.0062 in the current presale stage.</p>
 <p><strong>Visit Bitcoin ETF Token Presale</strong></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-breaks-above-40k-bitcoin-etf-token-raises-nearly-2-5m-tbt72544.html">https://thebittimes.com/bitcoin-breaks-above-40k-bitcoin-etf-token-raises-nearly-2-5m-tbt72544.html</a></p>

Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m

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