Market Outlook

"Bitcoin is loving the BNY Mellon news. It's a very big deal," trader and analyst Alex Kruger tweeted.

A wave of new bitcoin buyers is arriving just as easily obtained supplies of the cryptocurrency fall to their lowest levels in more than three years. 

Alternative cryptocurrencies are surging as bitcoin consolidates after its recent record-breaking rally.

The payments giant plans to support digital currency transactions directly on network.

Bitcoin's price volatility may put corporates off from emulating Tesla's decision to invest in the cryptocurrency.

Addresses holding amounts of bitcoin worth more than $1 million are on the rise.

With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.

The eye-popping 888 ETH virtual land sale is said to mark the largest NFT transaction of all time.

The fund charges a 1.75% management fee and offers custody from Fidelity Digital Asset Services.

Tesla has forged a path other corporate treasurers might follow into bitcoin. PLUS: Ether hits new record price above $1,800 as CME futures debut.

Ether has more than doubled in value this year, outperforming bitcoin.

"The market is now pricing in a high likelihood that many other corporates will copy Tesla," one trader said.