American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Bitcoin price approaches $69K as open interest reaches record $40.5B

by admin October 21, 2024
October 21, 2024
Bitcoin price approaches $69K as open interest reaches record $40.5B

The cryptocurrency market has shown strong upward momentum, gaining 1.79% in market capitalization, now standing at $2.38 trillion.

Alongside this, 24-hour trading volumes have surged by 65.13%, reflecting heightened trader activity.

The Fear & Greed Index, currently at 63, indicates a growing sense of market optimism, driven in part by Bitcoin’s increasing dominance, which has reached 57.2%.

The market’s positive trend highlights increased investor confidence, with Bitcoin and select altcoins experiencing substantial gains, while others face minor declines.

BTC approaches $70k with record $40.5B in open interest

Bitcoin has continued its upward trend, with prices now close to $69,107.

Open interest in Bitcoin derivatives reached a record $40.5 billion, suggesting that traders are optimistic about a potential breakthrough above the $70k level.

Last week, Bitcoin ETFs recorded $2.13 billion in inflows, further strengthening investor confidence.

While the current price is still 6.51% below its all-time high, Bitcoin’s momentum remains robust, signaling a possible test of resistance levels in the coming days.

Ethereum has shown a notable 3.66% increase in the last 24 hours, bolstered by $78.89 million in weekly inflows into US spot ETH ETFs.

Its market dominance has held steady at 13.8%, underscoring its solid standing in the broader crypto market. Solana, meanwhile, emerged as a top performer, rising 6.59% to reach $170.39.

The token’s performance signals heightened interest in its network, positioning it as a standout among altcoins. In contrast, XRP saw a modest rise of 1.22%, with its price reaching $0.5487.

Apecoin soars 100% on Apechain launch

Apecoin has made headlines with a 100% price surge following the launch of the Apechain network.

The token’s price rose sharply from $0.88 to $1.62 within six hours, marking a significant boost.

Other tokens like dydx and Mina also experienced substantial gains, with increases of 25.81% and 12.92%, respectively.

These altcoins have captured market attention, benefiting from new developments and enhanced trading activity.

Despite the market’s positive trend, some assets have faced declines.

Aerodrome Finance dropped by 2.05%, while Litecoin saw a 0.87% dip.

Similarly, Mantra experienced a 1.95% decrease.

These declines reflect the varied performance of digital assets, where gains in one area can coincide with losses in another, underscoring the market’s inherent volatility.

With the rise in Bitcoin ETF inflows and growing open interest, the focus remains on whether Bitcoin can surpass the $70k mark.

Ethereum’s consistent growth and Solana’s standout performance also provide a positive outlook for the market.

As market sentiment continues to shift towards greed, the coming days will be pivotal in determining the next phase of cryptocurrency price movements.

The post Bitcoin price approaches $69K as open interest reaches record $40.5B appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Robinhood launches high-risk margin trading in UK following regulatory approval
next post
Kinder Morgan stock is surging: can the rally continue?

Related Posts

Pi Coin adds 1.3M users in 30 days...

May 6, 2025

Top stocks to watch today: Bullish, Cisco, AMAT,...

August 13, 2025

How tech giants are transforming old European power...

August 5, 2025

Why orange juice is so expensive

August 2, 2024

Here’s why the Nio stock price HK could...

December 3, 2024

Elon Musk’s AI startup raises $6B from BlackRock,...

December 24, 2024

Why Nike’s CEO believes turnaround efforts could hurt...

December 21, 2024

Is natural gas a ‘buy’ as Microsoft say...

March 12, 2025

AMC stock price analysis: Wyckoff Theory points to...

January 29, 2025

Shein’s global ambitions leaves some cybersecurity experts fearful...

July 11, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved