BTC reaches its highest weekly close since December 2021
The dominance of the first cryptocurrency in the crypto market is 50%

12.02.2024 - 12:45
217
1 min
0
What’s new? On February 11, bitcoin reached its highest weekly close since December 2021. The asset’s exchange rate amounted to $48 315, the maximum for the last 111 weeks. According to the analytics platform Coinglass, this weekly close was the best for BTC in 2024. On February 12, 11:50 UTC, the coin is traded on Binance at $47 826, down by 1,03% for the day, with a weekly increase of 11,1% (data from the CoinGecko aggregator).
What else is known? On February 5, the total capitalization of the crypto market was $1,63 trillion, and a week later it exceeded $1,87 trillion. BTC dominance is 50% (at the time of writing).
The Crypto Market Fear and Greed Index (F&G) is currently at 70/100. Ahead of the launch of spot bitcoin exchange-traded funds (ETFs), it has been hitting its highest point since the peak of the bull crypto market in 2021, when bitcoin set an all-time high of $69 000.
On February 15, bitcoin mining difficulty is expected to be automatically adjusted. The network figure is expected to increase by ~6%. If this happens, the cryptocurrency’s mining difficulty will reach a new all-time high and exceed 80 T for the first time, according to BTC com.
A similar situation is observed with hashrate, which continues its upward trend this month. The latest data from the MiningPoolStats service shows that the last local maximum of 669 EH/s was reached on February 6.
Useful material?
Market
Once the SEC confirms, the filing will be published in the Federal Register, which will initiate the approval process
Feb 11, 2025
Market
Analysts at JPMorgan Bank believe the asset will continue to face pressure amid growing competition
Feb 6, 2025
Market
The hacker used the account to promote MEOW and DCOIN scam tokens
Feb 6, 2025
Market
The company’s operating expenses rose 693% year-over-year to $1,103 billion
Feb 6, 2025
Crypto regulations
Group head Hester Peirce criticized the regulatory approach formed by former chairman Gary Gensler
Feb 5, 2025
Incidents
This status has been maintained for the first cryptocurrency since September 2021 but was canceled due to pressure from the IMF
Feb 3, 2025