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Michael Saylor, the executive chairman of MicroStrategy (NASDAQ: MSTR), has reiterated his push for Bitcoin (BTC), suggesting that it could find significant use cases within the United States Treasury. In a post on X (formerly Twitter) on July 12, Saylor called for a dollar backed by Bitcoin, highlighting the cryptocurrency’s underlying attributes.  He believes such a currency would uphold core American values like privacy and property rights while strengthening the dollar .  Picks for you AI predicts Solana price for July 31, 2024  1 hour ago Bitcoin angles indicate 'most aggressive' price yet to come, according to analyst 2 hours ago ...

Bitcoin is showing renewed strength and targeting yearly highs. Will altcoins follow suit? October is proving to be a solid month for Bitcoin (BTC) as the price is nearing the 2023 high at $31,805. Generally, major resistances are not cleared in the first instance as the bears come out in full force to guard the level. Therefore, a minor dip is to be expected, but that should not be considered as the start of a negative sentiment. Buyers regroup at lower levels and try to form a higher floor. That triggers further buying and starts a rally. This is a possibility in Bitcoin but risks remain. While the cooling of the United States dollar index (DXY) is a positive sign, the weakness in the S&P 500 Index (SPX) is a negative sign. Daily cryptocurrency market performance. Source: Coin360 Another risk to the rising cryptocurrency markets could come from the surging 10-year Treasury yield which once again rose above 5%. The rise in the yields show that the market participants are losing h...

The crypto market is taking a walloping, and there are three important reasons why BTC’s $380 billion valuation is a key support for the entire market. Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13. Total crypto market cap in USD, 1-day. Source: TradingView Concerns about the stability of the U.S. banking industry, specifically the downfall and subsequent closure of Silvergate Bank (SI) on March 8 and the shut down of Silicon Valley Bank (SVB) on March 10 by The California Department of Financial Protection and Innovation, are among the reasons for breaking below the $1 trillion capitalization support. Silvergate was a critical fiat gateway network for the most important crypto currency exchanges and intermediaries. The Califor...

Bitcoin’s chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins. Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November.  Bitcoin (BTC) led the recovery in the crypto Markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52 on Jan. 15, its highest since April 5, 2022. However, the index has given back its gains and is again back into the Fear zone on Jan. 17. Daily cryptocurrency market performance. Source: Coin360 The strong rally in Bitcoin has divided analysts' opinions. While some expect the rally to be a bull trap, others believe that the up-move could be the start of a new bull market. The confirmation of the same will happen during the next dip. If the cryptocurrencies form a higher low fo...