invezz.com
Bitcoin Fear and Greed Index is 77. Extreme Greed Current price: $72,281
12:30 pm · 31 Oct 2024
The cryptocurrency market continues to trend bullish on Oct. 31 as the latest developments point to further gains for Bitcoin (BTC).
Meanwhile, Helium (HNT) and Internet Computer (ICP) are among the altcoins to pare gains following massive liquidations across the market.
Bitcoin (BTC) near ATH
Bitcoin (BTC) traded between $71,430.19 and $72,859.57 in the 24-hour range in early moves on Oct. 31.
Per CoinGecko data, BTC price remained within a whisker of its all-time high as of 6:20 am ET, with data showing bulls hovered at -1.9% off the all-time high above $73,737 reached in March 2024.
With Bitcoin having retested the $73k mark this week, analysts say the next leg up could take the benchmark digital asset to above $80k.
This comes as Alternative.me data suggests the Crypto Fear and Greed Index is at 77, signaling extreme greed.
Sentiment at this level indicates bulls’ appetite for more green is very high. However, the decline from recent highs has seen longs suffer more liquidation losses.
Coinglass data shows total liquidations of over $104 million in the past 24 hours, with longs accounting for $73 million and shorts over $30 million.
BTC liquidations stood at over $19 million, with longs at over $12.2 million and shorts at around $7.4 million.
HNT, ICP price update
The cryptocurrency market is trading mixed. There are notable gainers and losers – the latter likely due to increased profit taking.
On the upside are meme coins such as Ponke (PONKE) and Hoppy (HOPPY). Both are up more than 20% to lead the largest 500 coins by market cap.
In the top 100 by market cap KAIA leads with 12%, while MOG, PYTH, and RAY are also trading higher.
Among top losers by market cap, Ethena (ENA), Celestia (TIA), and 1inch (1INCH) lead.
Trading lower ahead of the US trading session are also Helium (HNT) and Internet Computer (ICP).
The two coins have declined by 5% and 2.3% in the past 24 hours respectively.
CoinGecko data also shows that HNT and ICP have struggled over the past 30 days, down 17% and 14% respectively.
However, while altcoins show mixed trading, analysts are bullish on the broader market as Bitcoin trends higher. Could this help HNT and ICP?
Crypto news latest
In the news headlines, it’s MicroStrategy, BlackRock and Canary Capital have featured heavily this morning.
MicroStrategy announced plans to raise up to $42 billion in equity and debt over the next three years.
The company, which holds 252,220 BTC, will use the proceeds to buy more bitcoin.
BlackRock on the other hand has hit a record $30.8 billion in net assets for its iShares Bitcoin Trust ETF.
IBIT attracted more than $875 million in inflows on Oct. 30 to mark its biggest single-day flows to date.
Bloomberg ETF analyst Eric Balchunas commented via X:
Pretty apropos that the biggest daily inflow ever for $IBIT is what pushed the US spot ETFs over the 1 million bitcoin held mark..
5:03 am · 31 Oct 2024
Notably, IBIT’s march to $30.8 billion in assets in 293 days has beaten the 1,272 days it took JPMorgan’s Equity Premium Income ETF (JEPI) to hit $30 billion.
Elsewhere, Canary Capital has applied to the listing of a Solana (SOL) exchange-traded fund.
The asset manager recently filed for an XRP ETF and the first for Litecoin (LTC).
The post Crypto price today: HNT, ICP, and BTC performance amid rising market greed appeared first on Invezz