Connect with us

Hi, what are you looking for?

Latest News

Bitcoin Hits $52K, Market Cap Tops $1 Trillion

Bitcoin Hits $52K, Market Cap Tops $1 Trillion

Bitcoin surges past $52,000, hinting at a bullish market trend.
Bitcoin’s market cap surpasses $1 trillion, reflecting growing confidence among investors.
Fidelity’s fee reduction to 0.35% for its Bitcoin ETP represents a strategic move in the evolving cryptocurrency investment landscape.

Bitcoin recently surpassed a significant threshold by reaching over $52,000, highlighting its growing appeal to investors and its robust presence in the financial market. This increase is not merely a statistic; it reflects Bitcoin’s stability, maintaining a position above the critical pivot point of $52,100 and suggesting the possibility of further growth. The cryptocurrency faces promising yet challenging prospects, with resistance levels at $53,601, $55,163, and $56,868 and support levels at $50,224, $48,441, and $46,736. Additionally, the anticipation of strong Q4 results from Coinbase is contributing to a bullish outlook, propelling Bitcoin’s market value to new highs.

$1 Trillion Market Cap: Bitcoin and Ethereum’s Ascendancy

Bitcoin’s recent surge exemplifies the increasing trust and investment in the cryptocurrency sector. For the first time since November 2021, Bitcoin’s market capitalization has exceeded the $1 trillion mark, a significant feat driven by considerable investments in U.S. spot BTC exchange-traded funds (ETFs). Ethereum’s performance, reaching its highest price since May 2022 at $2,762, further highlights the vitality and growth of the cryptocurrency market, indicating a widespread rally not limited to Bitcoin alone.

Fidelity Reduces Fees to 0.35% Amidst Crypto Market Expansion

Fidelity aims to capture a greater share of the expanding cryptocurrency investment market. Consequently, it has reduced the fees for its Fidelity Physical BTC ETP (FBTC) from 0.75% to 0.35%. This move is strategic. It aims to maintain Fidelity’s competitiveness and its responsiveness to the growing interest in cryptocurrencies. Furthermore, it mirrors the changing dynamics of the cryptocurrency investment landscape.

Moreover, the introduction of spot bitcoin ETFs in the U.S. highlights these changes. By revising its fee structure, Fidelity achieves several goals. Firstly, it reasserts its commitment to the cryptocurrency industry. Secondly, it increases the attractiveness of its Bitcoin ETP. Finally, this adjustment encourages wider participation and investment in digital currencies.

The post Bitcoin Hits $52K, Market Cap Tops $1 Trillion appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    The Senate is expected to send a temporary spending package known as a Continuing Resolution (CR) to the White House, averting a government shutdown before...

    Economy

    In the final three weeks of the presidential race, former president Donald Trump and his advisers have attacked one particular foe more than three...

    Investing

    Sen. Tommy Tuberville’s, R-Ala., colleagues pleaded on the Senate floor early Thursday morning – from midnight until nearly 4 a.m. – to drop his objection to...

    Latest News

    A bipartisan ethics report concludes there is “substantial evidence” that George Santos violated federal criminal laws, which will almost certainly trigger another attempt to...