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Crypto news: Bitcoin saw all-time high weekly close

By Daniela Ešnerová


Updated

Bitcoin logo on gold coins on PC motherboard
Bitcoin logo on gold coins on PC motherboard – Photo: Shutterstock

Bitcoin (BTC) ended a run record run last week, closing out above $65,000 (£48,381) for the first time ever. The cryptocurrency stalwart endured rejection Friday 12 November by the US Securities and Exchange Commission of an application to list a spot price bitcoin-indexed exchange-traded fund.

The highly-anticipated Taproot upgrade went live on Sunday with no unpleasant surprises. Cyrpotcurrencies started off the new week strong.

The fourteenth largest cryptocurrency by market capitalisation litecoin (LTC) continues its rally, trading up 27.94% week-on-week, and is attacking spot 13. Its market capitalisation is now $18.6bn, while total market value of the 13th biggest coin, avalanche (AVAX), is $21.4bn. But litecoin is, unlike, avalanche, on an upward trajectory, and had $3.4bn trading volume over the last 24 hours - compared to avalanche's $1.2bn. 

LUNC/USD

0.00 Price
+29.890% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.00000338

BTS/USD

0.01 Price
-2.720% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.0005306

ETH/USD

2,163.59 Price
-0.390% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

BTC/USD

39,642.00 Price
+0.010% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Other crypto news:

  • The Monetary Authority of Singapore ruled that disclosure requirements that apply to regulated firms also apply to influencers who offer financial advice on social media – or finfluencers. Failure to comply would mean these finfluencers can end up on investor alert list 

Deputy Governor of the Bank of England for Financial Stability, Sir Jon Cunliffe, speaking on BBC's Radio 4

What is your sentiment on BTC/USD?

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“The point at which they [cryptoassets] pose a risk is getting closer. I think regulators and legislators need to think hard about that.”

Round-up of coins by market capitalisation

As of 14:15 GMT:

  • Bitcoin (BTC) added 1.22% to $63,097.36
  • Ether (ETH) climbed 2.06% to $4,695.93
  • Binance coin (BNB) was down 2.34%, and trading at $642.06

Winners and losers

  • Dogecoin (DOGE) lost 7.64% week-on-week
  • Polkadot (DOT), was down 11.11% over the past seven days of trading

Read more: Digital assets use highest by Asian institutional investors

Markets in this article

BTC/USD
Bitcoin / USD
39642.00 USD
3.1 +0.010%
LTC/USD
Litecoin / USD
71.99 USD
-0.91 -1.250%

Related topics

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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