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Bitcoin Surges to 1.5-Year High on Renewed Interest and ETF Speculation

Bitcoin prices surged 15% to over $35,200 on Binance in the last 24 hours, reaching a 1.5-year high. The cryptocurrency has gained over 20% in the past week due to renewed interest in digital assets. The recent rally is attributed to growing speculation that regulators may soon approve a Bitcoin exchange-traded fund (ETF), with BlackRock said to have secured a specific license for this purpose. The decoupling of crypto from equity markets is also noted, as the S&P 500 and Dow Jones fell in the last 24 hours while over 91,200 traders were liquidated in the past day.

Bitcoin’s Market Share Rose to 51.4%, a New High Since April 2021

According to CoinGecko data, the total market value of cryptocurrencies has surpassed $1.3 trillion, now reporting $1,313,100,095,131, with a 24-hour increase of 9.4%. Bitcoin's market share has risen to 51.4%, a new high since April 2021; Ethereum's market share is currently reported at 16.5%.

The Total Market Value of Cryptocurrencies Exceeds 1.3 Trillion US Dollars, and Bitcoin’s Market Share Rebounds to 51.515%

According to CoinGecko data, the total market value of cryptocurrencies has reached $1,326,960,219,828, with Bitcoin's market value reaching $679,753,481,795 and a 24-hour increase of 14.1%. Bitcoin's market dominance has also risen to 51.515%.

Bitcoin’s Market Share Rose to a New High Since April 2021, Temporarily Reporting 51.4%

According to CoinGecko data on October 24th, Bitcoin's market share has risen to a new high since April 2021, currently reported at 51.4%; Ethereum's market share is currently reported at 16.5%.

An Entity Transferred Approximately 4,800 BTC Worth $144 Million

Blockchain detective ZachXBT posted on X platform that an entity transferred 4,800 bitcoins (worth $144 million) from the Abraxas dark web market and deposited the merged funds into a bitcoin mixer. The dark web market had ceased fraudulent activities in November 2015 and had been in a dormant state since then.

TeleportDAO: TeleSwap’s Bitcoin Bridge Transaction Volume Has Exceeded $500,000

TeleportDAO stated on social platform X that the Bitcoin bridging transaction volume of TeleSwap has exceeded $500,000, achieving seamless bridging and trading of BTC between Bitcoin and Polygon. Earlier, infrastructure platform TeleportDAO completed a $2.5 million seed round of financing, led by AppWorks and DefinanceX. TeleportDAO has created a fully decentralized Bitcoin wrapper teleBTC and trading platform TeleSwap on Polygon.

BTC Exceeded 35,000 USDT, With a 24-Hour Increase of 15.93%

According to market data, BTC has broken through 35,000 USDT with a 24-hour increase of 15.93%.

The Bitcoin Volatility Index Rose to 54.19 Yesterday, a Daily Increase of 6.09%

According to the BitVol (Bitcoin Volatility) index launched by financial index company T3 Index in conjunction with the Bitcoin options trading platform LedgerX, the index rose to 54.19 yesterday, a daily increase of 6.09%. Note: The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin option prices. Implied volatility refers to the volatility implied by the actual option price. 

Crypto Investment Products See Four Weeks of Inflows as Market Awaits Possible Approval of Bitcoin ETF

Investment products in the cryptocurrency market have seen four weeks of inflows, with $179 million added in the week ending October 20th, according to CoinShares' fund flows report. Bitcoin investment products received the majority of inflows, bringing year-to-date inflows to $315 million. However, the recent inflows are still lower than those seen earlier this year when BlackRock first filed for a spot Bitcoin ETF. Solana products also saw significant inflows, while Ether products experienced outflows. Interest in a spot Bitcoin ETF surged following positive signs of approval and a Bitcoin rally.

In the Past 24 Hours, the Entire Network Has Liquidated Positions Exceeding US$351 Million, and Short Orders Accounted for US$274 Million

According to Coinglass data, in the past 24 hours, the total amount of liquidation on the entire network exceeded 351 million US dollars, with short positions accounting for 274 million US dollars, of which Bitcoin liquidation was about 194 million US dollars, and Ethereum liquidation was about 46.82 million US dollars.