Bitcoin
Why Bitcoin is up 5.1% today
Analysis
Bitcoin rose 5.1% over the past 24 hours as ETF-related positioning appeared to stabilize, with analysts noting BTC had been trading defensively below $70,000 and that flows/demand dynamics were a key near-term driver of upside attempts. Despite broader market noise—including Coinbase reporting a quarterly loss amid recent BTC volatility—the move suggests buyers were still willing to bid BTC higher even as analysts described demand as relatively shallow.
Contributing Factors (3)
Bitcoin stays defensive below $70,000 as shallow demand limits upside, analysts say
Analysts expect bitcoin to continue to range between $60,000 and $72,000 as overhead supply and institutional outflows cap rallies.
Shiba Inu Open Interest Surges Against Bitcoin and XRP
Shiba Inu moves against broad futures market trend that saw Bitcoin, XRP and other leading cryptocurrencies record notable declines in open interest.
Morning Minute: Coinbase Reports $667 Million Loss Amid Bitcoin Dive
While Q4 was rough and the Q1 outlook is sobering, there are plenty of signs of hope within the Coinbase ecosystem.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.