Original title: First Mover Americas: Bitcoin Reclaims $62K, Bulls Revisit $100K Target
Original article by: Jamie Crawley, Omkar Godbole
Original source: coindesk
Compiled by: Mars Finance, Daisy
BTC price, FMA August 9, 2024 (CoinDesk)
CoinDesk 20 Index: 1,961 +3.6% Bitcoin (BTC): $60,680 +5.8% Ethereum (ETC): $2,636 +7.7% S&P 500 Index: 5,319.31 +2.3% Gold: $2,468 +1.9% Nikkei 225 Index: 35,025 +0.56%
Hot News
Bitcoin briefly recovered to $62,000 in early Asian trading as cryptocurrency markets extended their recovery from a sharp drop earlier this week. BTC subsequently fell to trading just above $60,500, up more than 5.5% from 24 hours ago. The CoinDesk 20 Index (CD20) rose about 3.9%, with Ethereum the biggest gainer, up nearly 7.75% to $2,540. Crypto assets mirrored U.S. stocks, which also recovered from Monday's slump. The S&P 500 had its best day since November 2022 on Thursday, while the Nasdaq 100 rose 3.1%.
BTCâs rebound in the second half of this week has led to the liquidation of nearly $100 million in short positions, and some analysts say Bitcoinâs big drop is a thing of the past. Michael Terpin, founder of Transform Ventures, said that with the Bank of Japan indicating no further rate hikes and selling pressure fading from Jump Trading, BTC is unlikely to fall below $50,000. âWhatever the next 60 days hold, the bull market will continue along the traditional four-year cycle line, with solid gains in October and November,â he added. Terpin also reiterated the view of many analysts that BTC could surge above $100,000 if Donald Trump wins the November presidential election.
Ionic Digital, a bitcoin miner that acquired the mining assets of bankrupt crypto lender Celsius, has delayed its plans to go public after losing its CEO and auditor. The miner said in a statement Thursday that former CEO Matt Prusak told the company in July that he would not stay on after his term ended on August 14. Ionic has begun a search for a new CEO and named recently hired CFO John Penver as interim head. Penver was hired in July to guide the company's plans to go public. Ionic said it still intends to pursue an initial public offering despite the leadership change and is "confident" that Penver can lead the company to that goal.
Daily Chart
(Amber Data)
The chart shows Bitcoinâs short and long bias, measuring the difference in price between call and put options.
The seven-day and one-month skewnesses remain below zero, indicating continued demand for protective put options after Thursdayâs 12% price surge.
This suggests that traders are still concerned about falling prices.
Source: Amberdata
- Omkar Godbole
