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Crypto News

Crypto shares jumped in overnight trading as BTC reclaimed 115K

Semler up 13%; ALT 5 up 10%; Bitfarms up over 9%; ABTC and SharpLink up 8%; Bakkt Holdings up 7%.

Bitmine's Tom Lee Predicts Crypto Surge, Expects S&P 500 To Climb Up To Another 10%: Report

Lee remained positive despite a spring market slump, emphasizing that Fundstrat’s year-end S&P 500 target was set at 6,600 during April’s lows. With the index currently around 6,800, he expects a typical year-end increase of about 4%, potentially reaching over 7,000, with a possibility of a 10% rise.

Lee attributes this potential growth to Federal Reserve rate cuts that began in September, a rare occurrence over the past 50 years. He also cited investor skepticism as a factor that could drive late-year market gains.

SharpLink Expands Ethereum Holdings to 859,000 ETH

SharpLink Gaming, Inc. increased its Ethereum holdings by 19,271 ETH to a total of 859,853 ETH as part of its treasury strategy, following a $76.5 million capital raise.

The acquisition underscores the growing trend of institutional Ethereum adoption, potentially influencing market liquidity and cementing SharpLink's position as a leading corporate ETH holder.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Friday was $90.6 million. The total net asset value of Bitcoin spot ETFs is $149.96 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.78%.

The Bitcoin spot ETF with the highest net inflow on Oct. 24 was Fidelity Wise Origin Bitcoin Fund , with a net inflow of $57.92 million. Followed by iShares Bitcoin Trust ETF , with a net inflow of 32.68 million, according to SoSoValue.