Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Impact of “infrastructure status” for the DC industry announced in the Union Budget 2022

    Milestone Systems appoints new Chief Revenue Officer

    IIM Udaipur Incubated tech startup FasterrWeb obtains funding

    Facebook Twitter Instagram
    • Home
    Facebook Twitter Instagram YouTube LinkedIn
    ICT Digital | IT, Technology & Startup News ICT Digital | IT, Technology & Startup News
    Subscribe
    • Home
    • PC & Laptop
      • Software
      • Hardware
      • Operating Systems
      • Peripherals
      • Accessories
    • Mobile
      • SmartPhones
      • IPad
      • Tablet
      • Wearable
      • Mobile Apps
    • Gaming
      • Mobile Gaming
      • PC Gaming
      • Hardware
    • Internet
      • e-Commerce
      • Social Network
      • Cryptocurrency
      • Internet of Things
    • Networking
      • Data Center
      • Cloud
      • Server
      • WAN
      • WiFi
    • Security
      • Privacy
      • Hacking
      • Malware
      • Mobile Security
      • Network Security
      • Application Security
    • Reviews
      • Desktop
      • Laptop
      • Mobile
      • Mobile Apps
      • Software
      • Gaming
      • Headphone
      • Speaker
      • Camera
      • TV
      • Home Appliance
    • GITEX
    • EXPO 2020
    ICT Digital | IT, Technology & Startup News ICT Digital | IT, Technology & Startup News
    Home » Bitcoin Pushes Upward After Weekend Dip
    Cryptocurrency Internet

    Bitcoin Pushes Upward After Weekend Dip

    No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Bitcoin was pushing again up Monday after experiencing a worth dip under $60,000 over the weekend, down from the all-time excessive close to $67,000 reached final week.

    As of press time the cryptocurrency was up 4% during the last 24 hours, buying and selling round $62,900.

    The drop in funding charges is probably the most notable indicator seen over the weekend, in line with Matthew Dibb, chief working officer at Stack Funds.

    “That is extraordinarily bullish given the place we’re,” stated Dibb.

    Funding charges throughout main exchanges had been decrease over the weekend, making it cheaper for merchants to take extra lengthy leverage on bitcoin. Funding charges are funds to lengthy or brief merchants based mostly on the distinction between the perpetual contract market and the present worth, according to the crypto exchange Binance.

    When funding charges drop, it’s usually an indication that there’s much less demand from merchants for leverage (borrowed funds) to guess on worth beneficial properties – a sign that the market is changing into much less overheated. The decrease funding charges additionally make it cheaper for merchants to placed on new leveraged positions.

    Dibb stated he sees the rally persevering with from right here and that the current pullback was wanted to chill down speculators.

    Bitcoin continues to be down 6% from its all time excessive reached final week on Oct. 20, at $66,974.77.

    VanEck Bitcoin Futures ETF

    In distinction to Dibb’s bullish take, Laurent Kssis, director of CEC Capital, an impartial crypto monetary companies agency, thinks a downward development is extra doubtless across the $50,000 channel earlier than the market begins to understand once more..

    The rise in worth comes forward of the anticipated launch on Tuesday of the third bitcoin futures exchange-traded fund (ETF), from VanEck, which is able to commerce beneath the inventory ticker XBTF.

    ProShares was the primary to safe the long-awaited approval of a bitcoin futures ETF by the U.S. Securities and Alternate Fee (SEC) and began buying and selling final week. One other bitcoin futures ETF, from Valkyrie Investments, launched on Friday.

    Different cryptocurrencies similar to ether (ETH), solana (SOL) and cardano are all up between 1% and 11% on the day.

    CORRECTION (14:33 coordinated common time): This story has been modified to point out that the VanEck Bitcoin Technique ETF is predicted to launch Tuesday, Oct. 26, not Monday as beforehand reported.

    Source Link

    Bitcoin Dip Pushes Upward Weekend
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Mphasis and CrossTower partner to develop a ‘Center of Excellence’ in Web 3.0 and Blockchain technologies

    January 21, 2022

    FTFT Subsidiary Launches Cryptocurrency Market Data Platform

    January 4, 2022

    Featuring Mr. Vladislav Sapozhnikov – Managing Partner Of Genesis Block At GITEX GLOBAL 2021

    November 13, 2021
    Add A Comment

    Leave A Reply Cancel Reply

    Recent GITEX Coverage

    Featuring Mr. Iordan Dunkov – Head of Strategic Partnerships and Initiatives at (SoftGroup) At GITEX GLOBAL 2021

    Featuring Dr. Muneer Zuhdi – Head of Cognitive Cities & Industries At Nokia At GITEX GLOBAL 2021

    Interview Of Mr. Gilles Trachsel – Vice President of Sales Of IDQ At GITEX GLOBAL 2021

    Interview with Mr. Peter Misztal – senior marketing specialist Of skey network At GITEX GLOBAL 2021

    With The Founder & CEO of XREADY LAB – Mr. Khurram Pirov At GITEX GLOBAL 2021

    Vice President of Sales Of Omni Clouds – Ammar Al Jarrah At GITEX GLOBAL 2021

    Facebook Instagram YouTube LinkedIn
    • Home
    © 2025 All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.