2024

Bitcoin ETF

Bitcoin

<p>This is turning out to be a great week for crypto. Bitcoin price just broke past the $60K level for the first time this month. In fact, remember how everybody was saying September is historically bad for crypto?</p>
<p>We’re almost halfway through the month, and this is, for now, a “green” month since the BTC price was around $58K on September 1st.</p>
<p>Ethereum is also doing well as the ETH price approaches the crucial $2.5K level after a 4% pump today.</p>
<p>However, a lot can change in the second part of the month. Let’s see why crypto prices are up today.</p>
<h2 class="wp-block-heading" id="microstrategy-continues-bitcoin-buying-spree">MicroStrategy Continues Bitcoin Buying Spree</h2>
<p><a href="https://finance.yahoo.com/video/microstrategy-buys-additional-1-11-152200387.html" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy has made another Bitcoin purchase</a>. The company reportedly bought an additional 18,300 BTC, worth approximately $1.11 billion, at an average price of $60,408 between August 6 and September 12.</p>
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   <p lang="en" dir="ltr">MicroStrategy bought another 18,300 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($1.11B) at $60,408 between Aug 6 and Sept 12!<a href="https://twitter.com/hashtag/MicroStrategy?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#MicroStrategy</a> currently holds 244,800 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($14.15B), and the average buying price is $38,585.<br><br>At current prices, the profit is ~$4.71B! <a href="https://t.co/keyEPOpQjP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/keyEPOpQjP</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1834587997674885301?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 13, 2024</a>
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<p>This latest acquisition brings MicroStrategy’s total Bitcoin holdings to a staggering 244,800 BTC, valued at around $14.15 billion. The company’s average buying price now stands at $38,585. At current market prices, MicroStrategy is sitting on a profit of approximately $4.71 billion from its Bitcoin investments.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/can-you-become-a-millionaire-by-holding-kaspa-kas/" target="_blank" rel="noopener noreferrer nofollow">Can You Become a Millionaire by Holding Kaspa (KAS)?</a></strong></em></p>
<h2 class="wp-block-heading" id="bitcoin-approaches-critical-resistance">Bitcoin Approaches Critical Resistance</h2>
<p>Crypto trader Ali has reported that Bitcoin is nearing a crucial resistance zone. According to his data, there are 1.52 million addresses holding over 770,000 BTC between $59,885 and $61,625.</p>
<p>This concentration of Bitcoin at these price levels creates a significant hurdle for further price increases. If Bitcoin manages to break through this resistance, it could potentially climb to $64,300. However, if the resistance holds, we might see a pullback to around $57,235.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> is approaching a critical resistance zone, with 1.52 million addresses holding over 770,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> between $59,885 and $61,625. If this level is surpassed, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> could climb to $64,300. However, if it holds, a pullback to $57,235 may occur. <a href="https://t.co/K4OLNJOFNL" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/K4OLNJOFNL</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1834679828114817433?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 13, 2024</a>
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<p>It’s worth noting that 770,000 BTC represents a big amount of Bitcoin – over 3.6% of the total supply. Such a large concentration of Bitcoin at a specific price range can indeed create strong resistance or support levels, depending on whether these holders decide to sell or hold onto their assets.</p>
<h2 class="wp-block-heading" id="blackrock-s-bitcoin-etf-sees-massive-trading-volume">BlackRock’s Bitcoin ETF Sees Massive Trading Volume</h2>
<p>In another positive news, Bitcoin Magazine <a href="https://x.com/BitcoinMagazine/status/1834691730555236712" target="_blank" rel="noopener noreferrer nofollow">reported</a> on X (Twitter) that BlackRock’s spot Bitcoin ETF, IBIT, saw $1.1 billion in trading volume today.</p>
<p>This trading activity in a major institutional investment product demonstrates growing interest in Bitcoin, so this might helped the BTC price pump today.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-price-breaks-60k-why-is-the-crypto-market-up-today/" rel="noopener noreferrer nofollow">Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today?

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