Bitcoin price news – live: Bitcoin, Dogecoin, and Solana surge in value while Cardano slips

As crypto trades down, stocks are up. Here’s the latest from AP:

Shares were mostly higher in Europe on Friday after a mixed session in Asia. 

Benchmarks rose in Paris, London, Tokyo and Hong Kong. Shares fell in Shanghai and Seoul. 

An official newspaper, the Securities Times, and other state media said China Evergrande Group made an overdue bond payment on Friday. 

Evergrande wired $83.5 million to account for a bond payment that was due Sept. 23, the reports said. The company’s Hong Kong-traded shares gained 4.3%.

The property developer’s struggle to reduce its 2 trillion yuan ($310 billion) of debt to comply with tighter official curbs on borrowing has prompted fears a default might trigger a financial crisis. 

The news of the payment followed Evergrande’s announcement a day earlier that it was running into difficulties selling assets to alleviate its liquidity crisis and that a plan to sell its property services arm had fallen through. 

Germany’s DAX gained 0.4% to 15,535.16. In Paris, the CAC 40 jumped 1.1% to 6,759.46, while Britain’s FTSE 100 added 0.4% to 7,220.57. The future for the S&P 500 was nearly unchanged while the future for the Dow industrials gained less than 0.1%. 

On Thursday, the S&P 500 rose 0.3% to 4,549.78, its seventh straight gain. That eclipsed the record high it set on Sept. 2. It is on pace for its third straight weekly gain. 

The Dow slipped less than 0.1%, to 35,603.08. It is just below its all-time high set on Aug. 16. The Nasdaq gained 0.6% to 15,215.70, while the Russell 2000 rose 0.3%, to 2,296.18.

It’s a red day in the cryptocurrency market – rare over the last few weeks. Bitcoin is down 1.9 per cent, and the other coins that had benefited from bitcoin’s rally such as Cardano and Ethereum are down too.

Solana is the standout. It’s up more than 10 per cent today, taking up almost 30 per cent this week.

But overall it’s negative. The market is down 4.4 per cent over the last day, according to CoinMarketCap, and the amount being traded has dropped by almost 17 per cent.

After the astonishing price gains bitcoin has seen over the last few weeks, the question is whether it can maintain this momentum.

We’ve reached out to several cryptocurrency experts to hear their thoughts on where the market goes from here, with some speculating that the latest all-time high could be eclipsed before the end of the year. Comparisons were even drawn to the first gold ETF in 2004, when the market cap of the precious metal was roughly the same as bitcoin’s today. It has since risen 11-fold.

You can read the full story here.

The price of bitcoin has slid to below $63,000, having peaked earlier today at close to $67,000.

The flash crash comes amid warnings that the market was overbought during the launch of the first ever bitcoin futures exchange-traded fund earlier this week.

Crypto analyst and author Glen Goodman said that there could be a short-term dip due to over-leveraged traders buying bitcoin with funds borrowed at high interest rates.

PayPal co-founder Peter Thiel has revealed that he regrets not investing more money in bitcoin following its latest price record.

The billionaire venture capitalist, who was one of the earliest investors in Facebook, told Bloomberg that he should follow fellow PayPal founder Elon Musk’s lead by buying a significant amount of the cryptocurrency and holding it for the long term.

“You’re supposed to just buy bitcoin,” he said. “I feel like I’ve been underinvested in it… I think the answers are still to go long.”

He also warned that bitcoin’s latest rally is a major concern for the traditional financial system, saying that BTC’s gains “surely tells us that we are at a complete bankruptcy moment for the central banks”.

Bitcoin’s record-breaking price rally has pushed its market cap ahead of the Swiss Franc, making it the world’s 13th most valuable currency.

Data from CoinMarketCap also ranks Ethereum (ether) in the top 25 fiat currencies, just below the Swedish Krona.

With a market cap in excess of $1.2 trillion, bitcoin is also worth more than some of the world’s most valuable companies, including Facebook and Tesla. The overall crypto market is now worth more than Apple – the world’s most valuable company – at more than $2.5 trillion.

Read the full story here.

It’s been a massive 24 hours for the cryptocurrency market, with several other leading altcoins looking to follow bitcoin’s all-time high with a record-breaking price run of their own.

Ethereum is now less than $100 from its ATH, while Solana is also fast approaching its own with gains of more than 20 per cent since this time yesterday.

All of the action has pushed the overall crypto market above its previous record, breaking above $2.6 trillion for the first time in its history this morning.

Twitter CEO Jack Dorsey, a long-time advocate of crypto, tweeted a moon emoji when bitcoin hit its peak.

The emoji likely references the phrase ‘to the moon’, signifying a rapidly high rise.

While the first bitcoin futures exchange trade has excited many, it has its critics, including the Financial Times’ Robert Armstrong.

Armstrong says that many investors want the cryptocurrency process to operate like a standard financial product. Quoting an unnamed executive in the bitcoin fund industry, he argues that the “heart of the matter” is that investors’ pools of capital are in a 401k or brokerage accounts, and the ways to access bitcoin is outside of that system.

“Lots of investors want access and don’t want to do research into the myriad custodial options”, the executive says.

But Armstrong says that bitcoin is not a standard financial product; it is supported by complex technology and its source of value is a “vehicle for the purest speculation”, he writes.

“If you can’t be bothered to learn the unique subtleties involved in owning this stuff, you can’t possibly understand the risks, and so you should not own it at all. Bitcoin ETFs should not exist.”