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Bitcoin’s price soared toward $96,000 during the Monday morning Asian trading session but was quickly stopped there and pushed south hard. The altcoins are taking this beating even harder, with massive price drops from the likes of ADA, SUI, AVAX, LINK, and many others. BTC Dumps by $3K The previous trading week went in a highly volatile fashion as BTC skyrocketed to over $102,000 on Monday but dumped by more than ten grand in the next 48 hours. This culminated on Thursday with a price plunge to a 7-week low of $91,200 (on Bitstamp). The asset bounced off in the following days and spiked above $95,000 on Friday, but that was short-lived. The weekend was somewhat sluggish , with the cryptocurrency’s price trading sideways around $94,000 and $95,000. Monday began on a more positive note as BTC jumped to $96,000, but its run was quickly halted. The subsequent rejection has harmed bitcoin quite a bit, with its price dumping by three grand in hours to under $93,000. This week is also expected to be eventful, perhaps in a bearish manner once again, and you can find more about that here . For now, BTC’s market cap has plummeted to $1.840 trillion, while its dominance over the alts has risen to 54.8%. BTCUSD. Source: TradingView Alts in Freefall Mode The altcoins are deep in the red once again, which is evident from the growing BTC dominance. Ethereum has dropped below $3,200 after a 2% daily decline. XRP, which was among the top performers during the weekend, is down by 3.6% to $2.43. BNB, SOL, DOGE, and TON have marked similar declines. On the other hand, Cardano, Tron, Sui, Avalanche, and Chainlink have slumped hard by up to 7% in the case of ADA and SUI. The cumulative market capitalization of all cryptocurrency assets has seen another $100 billion gone. The metric is down to $3.360 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post $100B Wiped From Crypto Markets as Bitcoin Sinks $3K in Hours (Market Watch) appeared first on CryptoPotato .
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Institutional Investors Lost Hope in This Altcoin, Turned to Bitcoin and 5 Other Altcoins!
While Bitcoin and altcoins started the week in which critical economic data will be announced with a decline, CoinShares published its weekly cryptocurrency report and said that there was a modest inflow of $48 million last week. “Cryptocurrency investment products saw modest inflows totaling $48 million last week, but large outflows occurred later in the week due to stronger-than-expected macro data.” Bitcoin and Ethereum Surprised Investors! When looking at crypto funds individually, it was seen that the fund inflows were in Bitcoin. While BTC experienced an inflow of $214 million, Ethereum (ETH) experienced an outflow of $255.6 million. There was also an inflow of $1.8 million in the Bitcoin Short fund, which was indexed to the fall of BTC. When we look at other altcoins, XRP experienced an inflow of $41.2 million, Solana (SOL) $15 million, Aave (AAVE) $2.9 million, Stellar (AXL) $2.7 million, and Polkadot (DOT) $1.6 million. “Bitcoin saw a total inflow of $214 million last week. While it saw the largest outflow relative to other digital assets later in the week, it remains the best performing asset with $799 million inflows since the beginning of the year. Ethereum suffered the most last week, seeing $256 million in outflows. In contrast, Solana did not experience the same pressure, attracting $15 million in inflows. XRP saw significant inflows of $41 million last week and continues to be driven primarily by political and legal factors. Surprisingly, altcoins saw inflows despite poor price performance, with the most notable being Aave, Stellar, and Polkadot with inflows of $2.9 million, $2.7 million, and $1.6 million respectively.” When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 79 million dollars. Germany came in second after the United States with $52.4 million. Against these inflows, Switzerland had an outflow of $85.3 million, Hong Kong $36.6 million, and Sweden $33.2 million. *This is not investment advice. Continue Reading: Institutional Investors Lost Hope in This Altcoin, Turned to Bitcoin and 5 Other Altcoins! Crypto Potato
Bitcoin Monster MicroStrategy Won`t Stop! Announced That It Bought Bitcoin Again! Here Are the Details
Business intelligence firm MicroStrategy, known for its aggressive Bitcoin acquisition strategy, has purchased an additional 2,530 BTC for approximately $243 million, according to an 8-K filing filed with the Securities and Exchange Commission today. MicroStrategy Buys 2,530 BTC for $243 Million, Expands Holding Assets to 450,000 BTC The purchase was made between January 6 and January 12, 2025, at an average price of $95,972 per Bitcoin. The latest purchase brings MicroStrategy`s Bitcoin holdings to 450,000 BTC, worth over $40 billion. The firm spent a total of $28.2 billion on its Bitcoin reserves, with an average purchase price of $62,691 per Bitcoin, including fees and expenses. This makes MicroStrategy the largest institutional holder of Bitcoin, controlling around 2.1% of the cryptocurrency`s limited supply of 21 million. The purchase comes at the same time that MicroStrategy raised $243 million to fund the acquisition by selling 710,425 shares of its common stock during the same period. The sale is part of the company’s 21/21 capital raising strategy to raise a total of $42 billion through equity and fixed income securities. The company also recently announced plans for a $2 billion preferred stock offering that analysts believe could attract institutional investors such as pension funds and insurance companies. According to Benchmark analyst Mark Palmer, this strategy could “unlock an institutional gold mine” for MicroStrategy and diversify its investor base. MicroStrategy’s latest purchase extends a ten-week streak of Bitcoin purchases that has seen it invest over $18 billion in the cryptocurrency. Last week, the firm purchased 1,070 BTC for $101 million, while the week before it made a $209 million purchase. *This is not investment advice. Continue Reading: Bitcoin Monster MicroStrategy Won`t Stop! Announced That It Bought Bitcoin Again! Here Are the Details Crypto Potato
