Crypto Price Analysis 1-7 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, ALGORAND: ALGO, HEDERA: HBAR, NEAR PROTOCOL: NEAR, ARBITRUM: ARB
The post Crypto Price Analysis 1-7 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, ALGORAND: ALGO, HEDERA: HBAR, NEAR PROTOCOL: NEAR, ARBITRUM: ARB appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) surged past $100,000 as it continued its upward momentum in the new year. The cryptocurrency went from a low of $98,760 to $102,413 late on January 6 before dropping marginally to its current level of $101,745. BTC is up almost 2.50% over the past 24 hours, with its market cap exceeding $2 trillion. BTC’s latest surge is being driven by institutional interest, reduced selling pressure, and growing adoption. Meanwhile, Ethereum (ETH) has underperformed, with its price marginally down after failing to stay above $3,700, and is currently trading around $3,670. However, AI tokens like Render (RNDR), FET, and INJ have recorded double-digit gains. The crypto market cap is currently up 1.25% and is at $3.58 trillion. Bitcoin (BTC) Gets Institutional Boost Bitcoin (BTC) is witnessing another rally that has taken it well past the $100,000 mark, with market watchers hoping this is the breakout that propels BTC beyond $110,000. Institutional investors are playing a crucial role in fueling this rally, with MicroStrategy announcing plans to raise $2 billion for more BTC purchases. The company has stated it intends to purchase $21 billion worth of BTC by 2026 and already holds BTC worth $44 billion, boosting market confidence. “@MicroStrategy targets up to $2 billion capital raise through public offerings of perpetual preferred stock in the first quarter of 2025.” Japan’s Metaplanet has outlined similar plans and intends to hold 10,000 BTC by the end of 2025. According to the firm’s CEO, its focus on leveraging financial tools and strategic partnerships has helped the company position itself as a major player in BTC adoption. Spot Bitcoin ETF inflows have also reported a significant jump in the new year, signaling renewed investor enthusiasm. January 3 saw ETF inflows worth $900 million. However, trading volume remains low. AI Tokens Surge AI tokens…
Filed under: News - @ January 7, 2025 8:27 pm