{"id":6409,"date":"2021-03-03T05:01:31","date_gmt":"2021-03-03T05:01:31","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/theta-aavegotchi-ghst-hit-new-highs-as-bitcoin-price-chases-after-50k"},"modified":"2021-03-03T05:01:31","modified_gmt":"2021-03-03T05:01:31","slug":"theta-aavegotchi-ghst-hit-new-highs-as-bitcoin-price-chases-after-50k","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/theta-aavegotchi-ghst-hit-new-highs-as-bitcoin-price-chases-after-50k\/","title":{"rendered":"Theta, Aavegotchi (GHST) hit new highs as Bitcoin price chases after $50K"},"content":{"rendered":"

Bitcoin (BTC<\/a>) bulls appear to have found their momentum as BTC price reclaimed the $49,000 level within the last hour. <\/p>\n

On March 2 the price dropped as low as $47,000 but currently, BTC is trading above the 20-day moving average. Bulls are likely to make another attempt at flipping the $50,000 resistance to support and a sustained high volume spike could send the price to $52,000 where a daily close would confirm that bulls are back in the driver’s seat.   <\/p>\n

Daily cryptocurrency market performance. Source: <\/em>Coin360<\/em><\/a><\/figcaption><\/figure>\n

Even though Bitcoin is struggling to secure a daily close above $50,000, a steady thread of favorable news continues to emerge. <\/p>\n

Businessman and Shark Tank<\/em> star Kevin O’Leary, who once called Bitcoin a \u201cgiant nothing burger,\u201d revealed that 3% of his portfolio will be put into Bitcoin<\/a> and in the future, O’Leary plans to invest in a sustainable mining operation. <\/p>\n

The drive to secure a Bitcoin exchange-traded fund (ETF) is also back in the headlines, following the successful launch<\/a> of the Purpose Bitcoin exchange-traded fund in Canada. Evolve Funds Group revealed that it is now looking to secure approval for an Ether ETF product<\/a> in Canada after it became the second firm approved to list a Bitcoin ETF in February.<\/p>\n

In the U.S., the Chicago Board Options Exchange (CBOE) is hoping that the ETF approvals in Canada will add momentum to its Jan. 3 filing to list the Van Eck Bitcoin ETF<\/a> after all of its attempts made in 2017 were denied. <\/p>\n

Traditional markets cool off while altcoins find momentum<\/h2>\n

Traditional financial markets faced pressure on March 2 as trading cooled following Monday\u2019s rally which saw the S&P 500 put on its best performance since June 2020.<\/p>\n

The NASDAQ, Dow and S&P 500 all finished the day in the red, down 1.69%, 0.41% and 0.74% respectively, while the U.S. Treasury 10-year yield also continued its decline from last week\u2019s spike. <\/p>\n

Several altcoin projects made big announcements that helped provide a boost to their token values.<\/p>\n

Sony Europe revealed<\/a> that it had joined the Theta (THETA) network’s validator program. Following the announcement, the price of THETA increased by 15.31% to $3.70 while the network\u2019s TFUEL gas token rallied to a new all-time high at $0.144.<\/p>\n

THETA\/USDT 4-hour chart. Source: <\/em>TradingView<\/em><\/a><\/figcaption><\/figure>\n

Meanwhile, the launch of Aavegotchi\u2019s (GHST) mainnet was accompanied by the platform\u2019s first portal drop which involved 10,000 NFT-bearing portals selling out in under a minute<\/a>. The successful launch and NFT sale was followed by GHST price rallying 15% to set a new all-time high at $1.79. <\/p>\n

BTC\/USD daily chart. Source: <\/em>Coin360<\/em><\/a><\/figcaption><\/figure>\n

The overall cryptocurrency market cap now stands at $1.51 trillion and Bitcoin\u2019s dominance rate is 60.7%.<\/p>\n

Source: COINTELEGRAPH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) bulls appear to have found their momentum as BTC price reclaimed the $49,000 level within the last hour. On March 2 the price dropped as low as $47,000 but currently, BTC is trading above the 20-day moving average. Bulls are likely to make another attempt at flipping the $50,000 resistance to support and…<\/p>\n","protected":false},"author":1,"featured_media":6410,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[131,441,95,443,593],"class_list":["post-6409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-bitcoin-price","tag-cryptocurrencies","tag-defi","tag-markets","tag-nft"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/6409"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=6409"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/6409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/6410"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=6409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=6409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=6409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}