Bitcoin’s latest surge, which obliterated what used to be major selling pressure close to $50,000, came on the back of news of fresh corporate buy-ins—a classic catalyst for price gains. This time, familiar face MicroStrategy joined a newcomer in the form of German cannabis firm SynBiotic in adding BTC to its treasury. The former will issue $900 million in convertible notes, while the latter purchased an unspecified amount of Bitcoin, becoming the first publicly-traded company to use the cryptocurrency to hedge against euro inflation.
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Markets Report: Bitcoin hits $50,000 as Pal heralds ‘only chance people have’
The last outpost of the $40,000s dissipates on Tuesday with momentum clearly visible for a takedown of new levels
After several attempts to leave the $40,000 trading corridor, Bitcoin saw rejection as the spot market hit around $49,780. Futures still managed to breach the $50,000 mark before a correction set in, that in itself lasting only hours before a final push sent the market to a peak of $50,600.
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Markets Report: Bitcoin avoids $50,000 attack as concerns build over ‘fakeout’
A strong weekend’s performance nonetheless fails to deliver a decisive blow to $50,000, which is increasingly acting as a do-or-die price ceiling
With the U.S. on holiday, markets are still trending up and the dollar down, providing the perfect background for strength in BTC/USD. At the same time, the sudden breakout seen over the weekend may turn out to be more like a “fakeout,” analysts warn, as $50,000 support continues to evade the market.
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Markets Report: Bitcoin plots next move after week of serious bull triggers
Ranging returns to BTC/USD but expectations clearly favor an attack on $50,000 in the near future
Bitcoin has transformed once again this week — not so much in price as in character — with $50,000 still easily within range. Bitcoin has transformed once again this week — not so much in price as in character — with $50,000 still easily within range.
