{"id":6461,"date":"2024-09-13T20:13:55","date_gmt":"2024-09-13T20:13:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=6461"},"modified":"2024-09-13T20:13:55","modified_gmt":"2024-09-13T20:13:55","slug":"bitcoin-price-explodes-toward-60k-as-microstrategy-ships-massive-btc-buy-this-weeks-recap","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=6461","title":{"rendered":"Bitcoin Price Explodes Toward $60K as MicroStrategy Ships Massive BTC Buy: This Week\u2019s Recap"},"content":{"rendered":"

The past 24 hours saw the cryptocurrency market expand its capitalization by more than $110 billion, pushing for the $2.2 trillion mark. This comes on the back of gains from Bitcoin, Ethereum, BNB, and most of the remaining altcoins.<\/p>\n

Let\u2019s dive in.<\/p>\n

Bitcoin\u2019s price increased by a whopping 11.5% in the past seven days. Traders are currently battling with the pivotal psychological and technical resistance level at $60,000, charting an increase of around 2.6% today alone.<\/p>\n

BTC\u2019s gradual ascend throughout the week. At first, the bulls were struggling to push forward, attempting to break $55K on a few occasions last weekend, but things took a swift turn on September 10th when the price shot up toward $58,000. The price consolidated there for a few days, and now, the bulls are attempting to conquer yet another important level.<\/p>\n

The altcoin market is also performing impressively. Ethereum is charting gains upwards of 8%, BNB is up more than 13%, SOL \u2013 more than 9%, and so forth.<\/p>\n

It\u2019s worth noting, though, that this renewed rally didn\u2019t come without a good reason.<\/p>\n

As it turns out, MicroStrategy, the world\u2019s largest corporate HODLer, added more BTC to its stash. Michael Saylor announced today a whopping $1.1 billion buy at a notional price of around $60,000 per unit. Surely, this has cushioned the market, and it might have prevented a more aggravated downfall throughout the last few weeks.<\/p>\n

Donald Trump \u2013 the former US President and the current presidential candidate from the Republican Party \u2013 just announced that he will be launching a digital currency platform called World Liberty Financial. It will feature a digital wallet, a credit account system, as well as lending options operating with stabelcoins.<\/p>\n

All in all, it has been an exciting seven days in the industry, especially with the US Presidential election drawing near.<\/p>\n

Market Data<\/h2>\n

Market Cap: $2.189T | 24H Vol: $76B | BTC Dominance: 54%<\/p>\n

BTC: $59,961(+11.2%) | ETH: $2,427(+8.3%) | BNB: $555 (+13.7%)<\/p>\n

<\/a><\/p>\n

This Week\u2019s Crypto Headlines You Better Not Miss<\/h2>\n

XRP Price Skyrockets 7% as Grayscale Launches Dedicated Ripple Trust.<\/strong> XRP has exploded by 7% following Grayscale\u2019s announcement<\/a> on September 12th. The company is launching its XRP Trust, giving many hope that this may pave the way to future ETF approval.<\/p>\n

MicroStrategy Announces Massive $1.1 Billion Bitcoin (BTC) Purchase.<\/strong> Michael Saylor, the co-founder and the current chairman of MicroStrategy, revealed<\/a> on Friday that the company recently acquired a whopping $1.11 billion worth of BTC at a price of around $60,408 per coin.<\/p>\n

These Factors Suggest Bitcoin\u2019s (BTC) Bull Run Is Just Getting Started: CQ.\u00a0<\/strong>There are multiple factors that suggest<\/a> that Bitcoin\u2019s bull run might actually just be getting started. As reported by a well-known analytics company, the growing stablecoin reserves might be just one of them.<\/p>\n

Donald Trump Announces Launch Date of World Liberty Financial.\u00a0<\/strong>Donald Trump \u2013 the former US President and current candidate \u2013 announced<\/a> that he will be launching a project oriented towards digital currencies. It\u2019s called World Liberty Financial.<\/p>\n

Bitcoin\u2019s Price Targets Depending on a Win for Harris or Trump: Standard Chartered.\u00a0<\/strong>Multinational banking giant Standard Chartered provided<\/a> their price targets for Bitcoin depending on whether Donald Trump or Kamala Harris wins the elections in the US on November 5th.<\/p>\n

Coinbase\u2019s Wrapped Bitcoin (cbBTC) Launches on Base and Ethereum. <\/strong>cbBTC \u2013 the wrapped Bitcoin issued by the largest US-based cryptocurrency exchange, Coinbase, is launching on Base and Ethereum. The firm plans<\/a> to add support other chains in the future.<\/p>\n

Charts<\/h2>\n

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Solana \u2013 click here for the complete price analysis.<\/a><\/p>\n

The post Bitcoin Price Explodes Toward $60K as MicroStrategy Ships Massive BTC Buy: This Week\u2019s Recap<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The past 24 hours saw the cryptocurrency market expand its capitalization by more than $110 billion, pushing for the $2.2 trillion mark. This comes on the back of gains from Bitcoin, Ethereum, BNB, and most of the remaining altcoins. Let\u2019s dive in. Bitcoin\u2019s price increased by a whopping 11.5% in the past seven days. Traders […]<\/p>\n","protected":false},"author":0,"featured_media":6462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6461"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6461"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6462"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}