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What is Behind The Biggest Bitcoin Surge of The Year?

What is Behind The Biggest Bitcoin Surge of The Year?

Could this signal a breakout and new all time highs?

Rich Webb
September 10, 2024 • Read Time: 6 minutes

Yesterday, the Bitcoin leaped from a daily low of $53,600 to just over $58,000 in a single day, marking one of its most notable performances in recent history.

The question on everyone's mind: What’s driving this surge and could this signify the end of the recent downturn?

From ETF flows rebounding and investor strategies that defy the crowd, to massive stablecoin inflows, there are several factors at play. Let's dive in!

Bitcoin jumped from $53.6K to $58K, with ETF inflows and stablecoin activities playing key roles. — Read More
DeFi liquidation occurs when the collateral value drops below a set threshold, triggering an automatic sale to cover loans. — Read More
Five US states have settled a $1 billion crypto fraud case with GSB Group, promising refunds to affected investors. — Read More

On the agenda this week we have:
1️⃣ US Presidential Debate
2️⃣ August CPI Inflation data (YoY & MoM)
3️⃣ Initial/Continuing Jobless Claims data
4️⃣ August PPI Inflation data
5️⃣ MI Consumer Sentiment data
Brace yourselves for volatility, we could see huge swings both ways
— Milk Road (@MilkRoadDaily)
1:13 PM • Sep 10, 2024

Harris Unveils Policies, Ignores Crypto

Kamala Harris releases policy positions without addressing Bitcoin or cryptocurrencies.

Bitcoin Could Plunge If Harris Wins, Predicts Bernstein

Analysts at Bernstein forecast Bitcoin could drop to $30,000-$40,000 if Kamala Harris wins, while a Trump win could push it to $80K-$90K.

Metaplanet Acquires ¥300 Million in Bitcoin

Metaplanet buys ¥300 million worth of Bitcoin, now holds nearly 400 BTC.

Bitcoin Whales Accumulate $157 Million: Market Upturn or Manipulation?

Bitcoin whales have bought $157 million worth of BTC, raising questions on market impact.

Spot Bitcoin ETFs End Negative Streak, BTC Hits $58K

Spot Bitcoin ETFs reverse negative outflows, propelling BTC to over $58,000.

🇺🇸 $725 billion Bernstein says if Trump wins #Bitcoin to hit $90,000 this year.
If Kamala wins, $30,000 👀
— Vivek⚡️ (@Vivek4real_)
1:37 PM • Sep 9, 2024

Ethereum Faces 9.2% Weekly Decline But Sees 24-Hour Rebound

ETH price drops 9.2% over the week, but 24-hour recovery sparks hopes of bullish rally.

Ethereum Price Faces $2,400 Resistance

Ethereum attempts recovery above $2,320 but faces resistance at $2,400.

Ethereum Network Growth Hits 4-Month High

Ethereum's network expands with new wallets, but price struggles to catch up.

Bitcoin and Ether Post Gains Amid Broad Market Rally

Bitcoin rose 3.0%, Ether gained 3.7%, CoinDesk 20 up 4.2% with AVAX surging 12.8%.

Earning with ADA: Lending and Staking Options

Learn various methods to lend, stake, and earn ADA cryptocurrency on platforms like Binance, KuCoin, and YouHodler.

Solana Price Attempts Recovery Towards $150

SOL price eyes $150 resistance after forming a support base at $120.

Chainlink's social discussions spike, potentially signaling bullish sentiment.

Helium and Mpeppe Defy Crypto Bear Market with Impressive Rallies

Helium (HNT) and Mpeppe (MPEPE) outperform bearish crypto market with decentralized wireless networks and innovative gambling platform.

Hexagon Studios Launches 'TONs of Dungeons'

Hexagon Studios announces 'TONs of Dungeons,' a new minesweeper game on Telegram that rewards players with Chef Tokens on the TON blockchain.

SEC Hits Crypto Industry With Record $4.68B in Fines

SEC imposes record $4.68 billion in fines on crypto firms in 2024, marking a 3018% increase from the previous year.

SEC crypto fines spiked 3,018% in one year

SEC penalties against crypto firms surged 3,018% this year, reaching a total of $4.68 billion.