{"id":558758,"date":"2023-11-02T19:00:01","date_gmt":"2023-11-02T19:00:01","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=558758"},"modified":"2024-06-11T12:29:34","modified_gmt":"2024-06-11T12:29:34","slug":"bitcoins-108-ytd-surge-highlights-cryptos-growing-prominence","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoins-108-ytd-surge-highlights-cryptos-growing-prominence\/","title":{"rendered":"Bitcoin&#8217;s 108% YTD Surge Highlights Crypto&#8217;s Growing Prominence"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin (BTC) witnessed a remarkable surge in its price, nearing the $36,000 mark, sending ripples across the cryptocurrency market. While multiple factors contributed to this price rally, one significant driver appears to be the decision by the US Federal Reserve to halt interest rate hikes, albeit with the potential for future increases.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, the overall sentiment in the crypto market remains bullish, with a collective market cap of approximately $1.36 trillion, bolstered by the expectation of positive regulatory developments.<\/span><\/p>\n<h2><strong>Institutional Focus<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The recent <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-30\/novogratz-reiterates-that-he-expects-spot-bitcoin-btc-etf-approval-this-year\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">listing of exchange-traded funds<\/span><\/a><span style=\"font-weight: 400\"> (ETFs) by prominent financial giants such as ARK Invest, BlackRock, and Invesco on the Depository Trust &amp; Clearing Corporation (DTCC) site has ignited speculation about their strategic intentions. These ETF listings are a clear indicator that these financial powerhouses are aiming at capturing the attention of money-loaded investors and institutional players.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/xrp-hits-0-6-in-unstoppable-surge-how-high-can-it-go-this-november\/\" target=\"_blank\" rel=\"noopener \">XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Such ETFs are designed to cater to the needs of larger investors who prefer a more regulated and mainstream entry into the crypto market. They offer exposure to Bitcoin without the need for direct ownership, making it an attractive proposition for institutions seeking to diversify their portfolios. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The move to list these ETFs on the DTCC, a crucial infrastructure provider for the financial industry, signals a growing acceptance and integration of cryptocurrencies within the traditional financial ecosystem.<\/span><\/p>\n<h2><strong>Federal Reserve&#8217;s Influence On Bitcoin Price<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The current BTC price, as reported by <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, stands at $35,365, reflecting a notable 24-hour gain of 2.5% and a seven-day increase of 2.0%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/www.cnbc.com\/2023\/11\/01\/fed-meeting-november-2023-.html\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">decision made by the US Federal Reserve<\/span><\/a><span style=\"font-weight: 400\"> to maintain interest rates without further increases plays a pivotal role in the current state of the crypto market. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Federal Reserve Chairman Jerome Powell kept the possibility of future rate hikes on the table, dependent on macroeconomic conditions. While this move has provided temporary relief to crypto enthusiasts, the uncertainty about future rate increases still looms.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/IkMIMrTu\/\" width=\"1835\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">Bitcoin (BTC) is currently trading at $35,365. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">Historically, raising interest rates has been perceived as a bearish signal for risk-on assets, including cryptocurrencies. Investors often seek safer options when interest rates rise, as these assets are considered more stable and provide a better return on investment. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, the Federal Reserve&#8217;s decision to pause interest rate hikes has provided a favorable environment for BTC and the broader crypto market to flourish.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Can you spot the outlier? <a href=\"https:\/\/t.co\/y5IIY1fVyx\" rel=\"nofollow\">pic.twitter.com\/y5IIY1fVyx<\/a><\/p>\n<p>\u2014 ecoinometrics (@ecoinometrics) <a href=\"https:\/\/twitter.com\/ecoinometrics\/status\/08397022?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 1, 2023<\/a><\/p><\/blockquote>\n<h3><strong>BTC&#8217;s Phenomenal Year-To-Date Growth<\/strong><\/h3>\n<p><span style=\"font-weight: 400\">BTC&#8217;s meteoric rise since the beginning of the year cannot be understated, with a staggering <\/span><a href=\"https:\/\/twitter.com\/ecoinometrics\/status\/08397022\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">108% increase<\/span><\/a><span style=\"font-weight: 400\"> in value to date. This remarkable growth significantly outpaces other major investment options in the financial world. The implications of this metric are profound, as it highlights Bitcoin&#8217;s growing prominence as an investment asset, even surpassing traditional options like stocks and bonds.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/solana-welcomes-november-with-40-breach-ready-for-a-50-breakthrough\/\" target=\"_blank\" rel=\"noopener \">Solana Welcomes November With $40 Breach \u2013 Ready For A $50 Breakthrough?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Investors are drawn to BTC not only for its potential for substantial returns but also as a hedge against inflation and economic uncertainty. The year-to-date performance underscores the sustained interest in Bitcoin, driven by both retail and institutional investors, who recognize its long-term value and potential to reshape the financial landscape.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from iStock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) witnessed a remarkable surge in its price, nearing the $36,000 mark, sending ripples across the cryptocurrency market. While multiple factors contributed to this price rally, one significant driver appears to be the decision by the US Federal Reserve to halt interest rate hikes, albeit with the potential for future increases.\u00a0 Additionally, the overall sentiment in the crypto market remains bullish, with a collective market cap of approximately $1.36 trillion, bolstered by the expectation of positive regulatory developments. Institutional Focus The recent listing of exchange-traded funds (ETFs) by prominent financial giants such as ARK Invest, BlackRock, and Invesco on the Depository Trust &amp; Clearing Corporation (DTCC) site has ignited speculation about their strategic intentions. These ETF listings are a clear indicator that these financial powerhouses are aiming at capturing the attention of money-loaded investors and institutional players. Related Reading: XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November? Such ETFs are designed to cater to the needs of larger investors who prefer a more regulated and mainstream entry into the crypto market. They offer exposure to Bitcoin without the need for direct ownership, making it an attractive proposition for institutions seeking to diversify their portfolios. The move to list these ETFs on the DTCC, a crucial infrastructure provider for the financial industry, signals a growing acceptance and integration of cryptocurrencies within the traditional financial ecosystem. Federal Reserve&#8217;s Influence On Bitcoin Price The current BTC price, as reported by CoinGecko, stands at $35,365, reflecting a notable 24-hour gain of 2.5% and a seven-day increase of 2.0%.\u00a0 The decision made by the US Federal Reserve to maintain interest rates without further increases plays a pivotal role in the current state of the crypto market. Federal Reserve Chairman Jerome Powell kept the possibility of future rate hikes on the table, dependent on macroeconomic conditions. While this move has provided temporary relief to crypto enthusiasts, the uncertainty about future rate increases still looms. Bitcoin (BTC) is currently trading at $35,365. Chart: TradingView.com Historically, raising interest rates has been perceived as a bearish signal for risk-on assets, including cryptocurrencies. Investors often seek safer options when interest rates rise, as these assets are considered more stable and provide a better return on investment. Therefore, the Federal Reserve&#8217;s decision to pause interest rate hikes has provided a favorable environment for BTC and the broader crypto market to flourish. Can you spot the outlier? pic.twitter.com\/y5IIY1fVyx \u2014 ecoinometrics (@ecoinometrics) November 1, 2023 BTC&#8217;s Phenomenal Year-To-Date Growth BTC&#8217;s meteoric rise since the beginning of the year cannot be understated, with a staggering 108% increase in value to date. This remarkable growth significantly outpaces other major investment options in the financial world. The implications of this metric are profound, as it highlights Bitcoin&#8217;s growing prominence as an investment asset, even surpassing traditional options like stocks and bonds. Related Reading: Solana Welcomes November With $40 Breach \u2013 Ready For A $50 Breakthrough? Investors are drawn to BTC not only for its potential for substantial returns but also as a hedge against inflation and economic uncertainty. The year-to-date performance underscores the sustained interest in Bitcoin, driven by both retail and institutional investors, who recognize its long-term value and potential to reshape the financial landscape. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":558822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,532,1122,1144,8686,4735],"class_list":["post-558758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-btc-price","tag-btcusd","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n<title>Bitcoin 108% YTD Surge Highlights Crypto&#039;s Growing Prominence<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) witnessed a remarkable surge in its price, nearing the $36,000 mark, sending ripples across the cryptocurrency market. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/www.ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin&#8217;s 108% YTD Surge Highlights Crypto&#8217;s Growing Prominence","url":"http:\/\/www.ktsl888.com\/news\/bitcoins-108-ytd-surge-highlights-cryptos-growing-prominence\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/bitcoins-108-ytd-surge-highlights-cryptos-growing-prominence\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/11\/a-15.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/11\/a-15.png?fit=1100%2C565"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","btc price","btcusd","ethusd","price action"],"dateCreated":"2023-11-02T19:00:01Z","datePublished":"2023-11-02T19:00:01Z","dateModified":"2024-06-11T12:29:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin&#8217;s 108% YTD Surge Highlights Crypto&#8217;s Growing Prominence\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/bitcoins-108-ytd-surge-highlights-cryptos-growing-prominence\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/bitcoins-108-ytd-surge-highlights-cryptos-growing-prominence\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-15.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-15.png?fit=1100%2C565\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"btc price\",\"btcusd\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-11-02T19:00:01Z\",\"datePublished\":\"2023-11-02T19:00:01Z\",\"dateModified\":\"2024-06-11T12:29:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/11\/a-15.png?fit=1100%2C565","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/558758"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=558758"}],"version-history":[{"count":0,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/558758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/558822"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=558758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=558758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=558758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}