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Bitcoin Above $40k: 4 Most Important Bitcoin News You Should Know

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By Christian Webster - - 5 Mins Read
Man, bitcoin, green forward arrow
Featured Photo | Shutterstock

Bitcoin recently got past $40k to the joy of crypto investors worldwide — is this the start of a new bull run? We've gathered the top 4 Bitcoin stories to help you see what's next for Bitcoin.


Man, bitcoin, green forward arrow
Featured Photo | Shutterstock



The value of cryptocurrency has been experiencing significant fluctuations lately because of several factors affecting its market trends.


The price of Bitcoin has been skyrocketing, leading to different explanations for this surge. Some of the reasons include emotional reactions from investors, regulation changes, and future predictions.


Here are the most significant news stories about Bitcoin that are shaping the world of cryptocurrency:

  1. Institutional Investors Propel Bitcoin's Price Rally

The recent surge in Bitcoin's price has been linked to the involvement of institutional investors. Analyzing data from U.S. exchanges, a notable uptick in the average trade size since September suggests the market's propulsion by larger, potentially institutional, trades.

Market Analysis

The BTC-USD Average Trade Size chart highlights a huge increase in transaction value, aligning with Bitcoin's price action.


This pattern implies a vital narrative - institutions likely play a significant role in driving Bitcoin's ascent.

Bullish Momentum

Observing the Bitcoin price chart, a bullish momentum is unmistakable. Following a consolidation period, Bitcoin experienced a swift upward trend, maintaining positions above the 50-day and 200-day moving averages.


This shows a sustained bullish sentiment and strengthened momentum, indicated by the fanning out of moving averages.


BTC 7-day price chart
BTC price chart | TradingView


Institutional Presence

The recent green candles on the chart, displaying sizable bodies without long wicks, indicate aggressive buying and swift buy-backs during pullbacks - characteristics associated with institutional investment strategies.

Immediate Outlook

Despite the upward surge, Bitcoin faces resistance at recent highs, possibly leading to retracements that will test current support levels. This hints at a potential tug-of-war between bulls and bears shaping Bitcoin's immediate future.


  1. Split in Trader Behavior Amid Bitcoin’s Rally

Bitcoin's surge has resulted in contrasting trader behaviors, increasing market volatility.

Differing Sentiments

Asset managers demonstrate confidence by going long on Bitcoin, setting all-time highs. Their long-term investment approach allows them to weather short-term market fluctuations, reflecting strong positive sentiments.

Hedge Fund Skepticism

Contrarily, hedge funds notably bet against BTC at record levels, indicating skepticism or anticipation of an imminent market correction. Their short-term investment approach aims for consistent quarter-on-quarter growth, showing a divergence in market perspectives.

Implications on Market Dynamics

This conflicting sentiment within CME Bitcoin Futures could heighten market volatility, potentially impacting Bitcoin’s price dynamics. The rising Implied Volatility (IV) for Bitcoin indicates increased market uncertainty, requiring traders to adjust their strategies cautiously.

Current Market View

At $41,554.47, Bitcoin has surged by 5.33% in the last 24 hours. However, the decline in Daily Active Addresses during this period raises some concerns. Additionally, the growing Bitcoin MVRV ratio suggests increased addresses holding profits.

  1. BlackRock's Seed Funding for Spot Bitcoin ETF

BlackRock, a prominent investment firm, disclosed receiving $100,000 in seed capital for its proposed Bitcoin exchange-traded fund (ETF).


The investment giant aims to create the “iShares Bitcoin Trust,” differentiating itself by investing directly in Bitcoin rather than futures.

Seed Funding Significance

The seed investor’s agreement to purchase $100,000 shares marks a significant milestone for the ETF’s creation units, facilitating trading in the open market.

Regulatory Expectations

BlackRock’s ETF proposal is among 13 awaiting regulatory approval. According to Bloomberg analysts, the SEC's imminent approval of spot ETFs, with a 90% probability by January, augurs well for market expansion.

Unveiling the Future

The identity of the seed capital investor remains undisclosed, adding to the impending launch of Bitcoin-focused ETFs, anticipated to reshape the crypto investment space.


  1. Analysts Bullish Bitcoin Price Prediction

Anticipating a bullish trajectory, a prominent analyst forecasts Bitcoin to potentially reach $83,000 by 2025, fueled by the approval of a spot Bitcoin ETF in the U.S.

Analyzing Price Predictions

The analyst envisions Bitcoin nearing $50,000 by mid-January before a temporary pullback to around $30,000. However, the upcoming halving event in April 2024 could catalyze a  huge rally, culminating in a new all-time high of $83,000 by 2025.

Growing Optimism

Amidst mounting anticipation surrounding a potential spot Bitcoin ETF launch, Standard Chartered reaffirms that BTC will hit $100,000 by the end of next year. The bank’s team underscores Bitcoin’s established status as a dependable, safe haven asset.

Market Dominance and Forecasts

Standard Chartered’s previous forecast projected BTC to reach $120,000 by next year's end, highlighting Bitcoin’s dominant market position, which accounts for approximately 50% of the total market.