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The BNB price surged 7% in the past 24 hours to trade at $1,066 as of 01:52 a.m. EST, following its historic breakthrough past the $1,060 mark earlier today. The Binance coin has been on a tear this last week, surpassing the $1,000 mark for the first time. This surge has continued in the past day, with BNB claiming a new all-time high (ATH) at $1,079. Its market capitalization soared past $148 billion, making it the 3rd-largest altcoin behind Ethereum and XRP and enabling it to surpass chip giant Intel’s $138.15 billion valuation. With the positive rally, a whale has deposited $7.4 million into Hyperliquid and opened long positions in BNB and XPL with 3x leverage, according to on-chain data, suggesting some heavyweight investors still believe the token has more upside potential. In the past 4 hours, a whale deposited $7.4M $USDC into #HyperLiquid and opened long positions in $BNB and $XPL with 3x leverage.https://t.co/g0ATyZP4Q1 pic.twitter.com/xDDFQvL0og — Onchain Len...

The cryptocurrency market took a hit as hotter-than-expected economic data reignited inflation fears, triggering broader concerns. Over the past 24 hours, the global crypto market cap declined by 2.9% to $3.28 trillion, with Bitcoin (BTC) struggling to hold above $97,000. Despite the downturn, some altcoins are gaining traction, edging closer to key valuation milestones. In particular, Finbold has identified two cryptocurrencies, Binance Coin (BNB) and Solana (SOL), on track to reach a $100 billion market cap by March, fueled by growing institutional interest and an expanding DeFi ecosystem. Binance Coin (BNB) BNB is approaching a significant milestone, currently trading at $669 with a market cap of $95.32 billion. A 4.91% increase would push its market cap past $100 billion, translating to a price of $701.  Picks for you AI predicts X...

Bitcoin remains stuck in a range, but certain altcoins are showing signs of breaking down in the near term. The bulls tried to shake Bitcoin from its slumber on Sept. 7, but the rally was short-lived. This suggests a lack of clarity between the bulls and the bears about Bitcoin’s (BTC) next directional move. Analyst CryptoCon said on X (formerly Twitter) that Bitcoin could remain in a “mid cycle lull” until the start of the next bull run in November 2024. Along similar lines, ARK Invest said in a report that cryptocurrencies could continue to face headwinds in the remainder of 2023 due to several macroeconomic issues, such as interest rates, gross domestic product estimates, unemployment and inflation. Daily cryptocurrency market performance. Source: Coin360 Sept.In comparison, the bulls will be closely following the decision of the United States Securities and Exchange Commission on the various Bitcoin spot exchange-traded fund (ETF) applications. In addition to that, the race for a ...

Bitcoin and altcoins could see profit taking and risk-off positioning as the weekend approaches and investor concerns about Deutsche Bank arise. The European stock markets fell on March 24 on renewed fears that the banking crisis could rear its ugly head once again. The latest selling was triggered after Deutsche Bank’s credit default swaps, which offer protection to the buyer against specific risks, soared on March 23 without any known catalyst. That pulled down the shares of the German lender by 11%.  European Central Bank President Christine Lagarde attempted to calm the markets, saying that the euro area baking sector was strong due to the regulatory reforms introduced after the Global Financial Crisis. That could be one of the reasons for the solid recovery in the United States equities markets from the intraday lows. Daily cryptocurrency market performance. Source: Coin360 Although the banking crisis has been positive for Bitcoin’s (BTC) price, the trend may pause if the contagi...

Bitcoin and major altcoins are witnessing a tough battle between the bulls and the bears, indicating indecision in the near term. The United States Federal Reserve Chairman Jerome Powell said on Feb. 7 that the “disinflationary process, the process of getting inflation down,” has started but it is still in its very early stages. He cautioned that strong data would be met with more rate hikes. Though the comments are mixed, they triggered buying in the S&P 500 and Bitcoin (BTC) on Feb. 7 as investors speculated that the Fed may soon end its rate hikes. Bitcoin’s strong rally in January and signs of ebbing inflation seem to have turned around investor sentiment. CoinShares data on Jan. 30 shows that institutional investors pumped $117 million into digital investment products. That sent the total assets under management to $28 billion, a sharp 43% increase from its November 2022 low. Daily cryptocurrency market performance. Source: Coin360 Although the sentiment seems to have turned...

The rally in stocks could be giving Bitcoin price a boost, and the crypto market could see more fireworks if the Fed confirms investors' expectation that rate hikes will slow down. Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets are rising, the United States dollar index (DXY), perceived as a safe haven, extended its downtrend and declined more than 1% in January. The change in sentiment toward risky assets may have been triggered by expectations that the U.S. Federal Reserve could slow down its rate hikes as inflation cools off. Some analysts even expect the Fed to pivot and start cutting rates before the end of the year. Daily cryptocurrency market performance. Source: Coin360 Several analysts remain skeptical about Bitcoin’s rally but the longer the price sustains above $20...