Tag Archives: BTC

Bitcoin Surpasses $100,000 for the First Time

Bitcoin Surpasses $100,000 for the First Time Following Appointment of Crypto Advocate to the SEC
Bitcoin hits a new record, exceeding $100,000, fueled by the appointment of a crypto-friendly figure to the U.S. Securities and Exchange Commission, signaling a potential shift in regulatory policies and unprecedented support for the sector.

 

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Trump

Trump Selects Paul Atkins to Lead the SEC

President-elect Donald Trump’s choice of Paul Atkins, known for his support of cryptocurrencies, as the new head of the U.S. Securities and Exchange Commission, sparked a wave of optimism in the digital asset market. The announcement propelled Bitcoin to a historic milestone, surpassing $100,000 in Asian trading on Thursday. The cryptocurrency later reached $103,000, while the overall market value of cryptocurrencies soared by approximately $1.4 trillion since Trump’s election victory.

This appointment follows a prolonged period of stringent regulatory measures under outgoing SEC Chair Gary Gensler, who adopted a tough stance on crypto assets, particularly after the 2022 market crash. With Atkins at the helm, the market anticipates a significant shift toward more supportive policies, raising investors’ hopes for a brighter future in the digital currency space.

 

Historic Surge and Market Volatility

As traders celebrate this development, analysts have cautioned about the inherent volatility in the cryptocurrency market. Despite Bitcoin’s 135% rise this year, questions linger about the sustainability of this growth amidst critics urging caution.

On the other hand, the market drew further encouragement from Russian President Vladimir Putin’s endorsement of cryptocurrencies, which bolstered global optimism. Additionally, Bitcoin exchange-traded funds in the U.S. recorded substantial inflows of $32 billion this year, with a notable surge since Trump’s election.

 

A New Vision for Cryptocurrencies

Trump has pledged to transform the U.S. into a global hub for cryptocurrencies by rolling back previous restrictions
and appointing pro-crypto regulators.
Among his bold proposals is the creation of a national strategic Bitcoin reserve,
reflecting his ambitious vision to enhance the digital currency’s role in the U.S. economy.

This historic rise of Bitcoin marks a turning point in the cryptocurrency narrative but also raises questions
about the market’s readiness to handle such explosive growth amid regulatory and volatility challenges.

 

 

 

Bitcoin Surpasses $100,000 for the First Time

 

Challenges and Opportunities in the World of Cryptocurrencies

Challenges and Opportunities in the World of Cryptocurrencies

Bitcoin, the world’s leading cryptocurrency, is approaching a significant psychological and financial milestone of $100,000.
While investors eagerly await this achievement, the digital asset faces several challenges that may hinder its rise.
On the other hand, experts anticipate that potential regulatory changes could unlock new opportunities for cryptocurrencies.

 

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Bitcoin’s Rise

Bitcoin has experienced significant growth following Donald Trump’s re-election as President of the United States,
as his anticipated policies are expected to relax restrictions on cryptocurrencies.
Key factors driving this growth include:

  • Institutional Acceptance: Major companies like MicroStrategy have announced increased investments in Bitcoin.
  • Regulatory Reforms: Wall Street is showing increased support for digital assets amid expectations of substantial regulatory changes.
  • New Financial Tools: The introduction of trading options on Bitcoin ETFs has bolstered investor confidence.

 

Challenges

What Are the Obstacles to Reaching $100,000?
Despite recent gains, Bitcoin faces several hurdles, including:

  1. Lack of Momentum: Bitcoin has struggled to break past the $99,000 mark despite nearing it.
  2. High Volatility: Many investors still view it as an unstable asset compared to gold.
  3. Central Bank Warnings: The Federal Reserve has issued warnings about stablecoins, which are integral to the cryptocurrency ecosystem.

 

 

 

 

 

Expert Opinions

  • Chris Weston of Pepperstone Group believes Bitcoin benefits from temporary factors such as investment inflows and anticipated regulatory reforms but requires additional momentum to surpass the $100,000 threshold.
  • Themis Themistocleous of UBS emphasizes that Bitcoin lacks the fundamentals to qualify as a long-term investment vehicle.

 

 

Conclusion

The question of whether Bitcoin can break the $100,000 barrier hinges on a balance between driving factors and existing challenges. While debates about its investment viability persist, Bitcoin remains a symbol of the ongoing transformation in the global financial landscape.

 

 

 

Challenges and Opportunities in the World of Cryptocurrencies

U.S. Markets Rally as Elections and Tech Giants’ Earnings Approach

U.S. Markets Rally as Elections and Tech Giants’ Earnings Approach

The U.S. stock indices saw a significant rise at the beginning of a busy week filled with major tech companies’ earnings reports.
Traders are also preparing for the upcoming presidential elections and key economic data that will influence the Federal Reserve’s next decisions. Despite overall gains, energy sector stocks declined due to falling oil prices.

 

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S&P 500

S&P 500 Gains, Except for Energy Stocks

All major sectors in the S&P 500 index rose, except for the energy sector.
Crypto-related stocks also climbed, with Bitcoin gaining 3%.
Additionally, Trump Media & Technology Group saw its shares soar by 22% following a major event held
by former President Donald Trump in New York, which led individual traders to buy the stock.

 

 

 

Trump

Impact of Trump’s Potential Victory on Stocks and Bitcoin

According to a Bloomberg Markets poll, a Trump victory in the election would be more favorable for stocks and Bitcoin compared to his Democratic opponent. About 38% of respondents expect a market rally under Trump, while only 13% foresee the same under Kamala Harris.

 

Investors are also anticipating earnings from major tech companies such as Apple, Microsoft, and Meta.
The Federal Reserve’s upcoming meeting, which may involve an interest rate cut,
is also highly anticipated as the U.S. economy continues to show resilience, especially in the jobs sector.

 

 

 

 

Markets

Market Performance

U.S. stock indices rose, with the S&P 500 up by 0.3%, and the Dow Jones climbing 0.6%.
Meanwhile, bonds fell due to weak demand,
prompting the Treasury Department to lower its federal borrowing estimates.

 

 

Focus on Long-Term Goals

Experts emphasize the importance of focusing on long-term investment goals,
noting that while markets may fluctuate due to the elections,
they typically shift back to core economic fundamentals such as corporate earnings, inflation, and interest rate trends.

 

Conclusion

As U.S. markets brace for the upcoming elections and corporate earnings,
short-term volatility remains tied to political events.
However, markets will eventually refocus on underlying economic factors.

 

 

U.S. Markets Rally as Elections and Tech Giants’ Earnings Approach

Nvidia Stock Approaches Becoming the Most Valuable in the World

Nvidia Stock Approaches Becoming the Most Valuable in the World
Nvidia’s stock saw a remarkable rise during today’s trading, briefly allowing the company to surpass Apple (NASDAQ: AAPL)
and become the most valuable globally. This surge was driven by the increasing demand for its advanced AI chips.

 

 

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Nvidia

Nvidia’s stock rose by 2.16%, or $3.03, reaching $143.44. In contrast, Apple’s stock gained 0.87%, or $2, to settle around $232.58.
According to market data, Nvidia’s market value reached $3.53 trillion, briefly surpassing Apple, which reclaimed its top spot with a current market value of about $3.54 trillion after its stock rebounded.

 

 

 

 

Japan

Japanese stocks witness strong gains.
Japan’s stock market closed on a strong note on Monday, with the Nikkei index recording its best daily performance in almost a month, benefiting from the yen’s drop to a three-month low against the US dollar. This yen decline followed parliamentary election results, where Prime Minister Shigeru Ishiba’s party lost the chance to form a parliamentary majority for the first time since 2009, increasing uncertainty regarding policy and the economy.
The Liberal Democratic Party, led by Ishiba, along with its junior coalition partner Komeito, secured 215 seats in the House of Representatives, falling short of the 233-seat majority required, compared to the 247 seats previously held.
By the end of trading, Japan’s Nikkei index climbed 691.46 points, or 1.82%, closing at 39,605.31 points, marking the best daily performance since September 27. The Topix index also rose by 1.51%, closing at 2,657.78 points, achieving its best performance since October 7.

 

 

 

 

 

Bitcoin

Bitcoin surpasses $68,000 once again.
Cryptocurrencies rose during Monday’s trading as investors took advantage of Bitcoin’s recent dip following reports that U.S. authorities are investigating the issuer of Tether due to allegations of financing illegal activities.
According to the data, Bitcoin increased by 0.97% to $68,345.7, while Ethereum rose by 0.79% to $2,508.6, and Ripple recorded a 0.48% gain, reaching 51.5 cents as of 10:55 a.m. Mecca time.

 

 

 

Nvidia Stock Approaches Becoming the Most Valuable in the World

A Rare Quiet Period for Bitcoin Awaits U.S. Election Results

A Rare Quiet Period for Bitcoin Awaits U.S. Election Results
Bitcoin’s Calmness Awaits a Major Move
Bitcoin has experienced an unusually stable period as speculators reduce their activity while awaiting the upcoming U.S. election results.
The volatility of the leading cryptocurrency has remained below 5% over 34 consecutive trading sessions, matching the longest quiet stretch observed this year, according to data compiled by Bloomberg.

 

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Disappointment

Disappointing Performance in October
This calmness has disappointed many cryptocurrency investors who have grown accustomed to strong performances in October, a month commonly known as “Uptober” due to the usual price rallies. Ki Young Ju, founder of the website CryptoQuant, mentioned in a post on X that if Bitcoin does not show gains in the coming days, it will mark the longest period of price stability during a year that includes the Bitcoin halving event.

Anticipation of U.S. Election Results
Many attribute this sluggishness to a lack of clear catalysts, as investors focus on the upcoming U.S. presidential elections. Former President Donald Trump has become an outspoken supporter of cryptocurrencies, while the stance of his competitor, current Vice President Kamala Harris, is less clear. It is speculated that she may continue the strict regulatory approach taken by President Joe Biden’s administration.

Impact of Regulatory Actions on the Market
Regulatory actions have also cast a shadow over the market. The U.S. Securities and Exchange Commission (SEC) recently accused Cumberland, a cryptocurrency trading arm of DRW Holdings, of operating as an unregistered broker for crypto assets worth over $2 billion. This move is part of a broader crackdown on major companies such as Binance and Coinbase.

 

 

 

 

Expectations

Post-Election Expectations
Many traders are anticipating a significant move for Bitcoin after the elections. Some believe that a Trump victory could boost Bitcoin prices, while Harris’ stance remains uncertain, with some speculating that she might adopt a more supportive approach toward cryptocurrencies and technology compared to President Biden.

Impact of Options Market on Volatility
According to Spencer Hallarn, head of external trading at GSR, Bitcoin’s volatility may continue to decline as the cryptocurrency matures into a widely accepted asset class. At the same time, traders are expecting an increase in volatility as the election date approaches, according to Zohaib Iftikhar, founder of Split Capital.

 

Conclusion

Amid the current calmness and the anticipation of U.S. election results, the cryptocurrency community remains on edge, waiting for the next major development that could shape the market, influenced by both political and regulatory factors.

 

 

 

A Rare Quiet Period for Bitcoin Awaits U.S. Election Results

 

Significant Rise in Cryptocurrency Fraud in 2023

Significant Rise in Cryptocurrency Fraud in 2023

Cryptocurrency scams saw a notable increase in 2023,
with consumers losing over $5.6 billion,
a 45% rise compared to the previous year.
The surge in prices attracted scammers on a large scale.

 

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Reasons Behind the Rise in Fraud

Major Types of Fraud and Their Financial Impact

 

 

 

 

Reasons Behind the Rise in Fraud

In 2023, the cryptocurrency market rebounded after a significant decline in 2022.
With the rising value of digital currencies like Bitcoin, investor interest grew, attracting scammers.
Bitcoin’s value doubled in 2023 and continued to rise by about 35% in 2024.
This rapid market recovery made cryptocurrencies more appealing to criminals
who took advantage of the situation to deceive investors and steal their funds.

 

 

 

 

Major Types of Fraud and Their Financial Impact

According to the FBI report, investment scams related to cryptocurrencies were the most common,
accounting for approximately 71% of total financial losses.
These scams targeted investors eager for quick profits through fraudulent projects.
Additionally, scams involving call centers, such as impersonating government officials,
contributed to around 10% of total cryptocurrency losses.
While cryptocurrency-related complaints made up only 10% of total financial fraud reports,
they represented nearly half of the total financial losses.

 

 

 

Significant Rise in Cryptocurrency Fraud in 2023

The U.S. Trade Deficit Reaches Its Highest Level

The U.S. Trade Deficit Reaches Its Highest Level in Two Years

The U.S. trade deficit widened again, reaching its highest level since 2022,
with the deficit for July amounting to $78.8 billion.

 

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  1. Details
  2. Bitcoin
  3. Retail Sales

 

 

 

 

 

Details

According to the Bureau of Economic Analysis of the Department of Commerce,
this reflects an increase in domestic demand in recent months.
Imports rose by 2.1% to reach $345.4 billion, and goods imports from China increased by $4.9 billion,
further widening the U.S. trade deficit with China.

 

 

 

 

 

Bitcoin


Bitcoin ETFs Experience Large Withdrawals

The markets saw more than $287 million withdrawn from 11 Bitcoin ETFs listed in the U.S. due to the recent decline in cryptocurrencies.
The selling pressure continues to dominate, marking the largest withdrawals from Bitcoin ETFs in four months.

 

 

 

 

 

 

Retail Sales


European Retail Sales Decline for the Second Consecutive Month

Retail sales in the Eurozone fell year-on-year for the second consecutive month in July, driven by a decline in food and beverage sales. According to Eurostat data released on Thursday, retail sales in the Eurozone decreased by 0.1% year-on-year in July, compared to a 0.4% decline in June, following three months of continuous growth.
Food and beverage sales dropped by 0.7% during this period, while non-food products, excluding automotive fuel, declined by 0.2%. Meanwhile, fuel sales remained unchanged. On a monthly basis, retail sales rose by 0.1% in July after a 0.4% drop in June, which may signal a recovery in household spending in Europe during the third quarter of the year.

 

 

 

 

The U.S. Trade Deficit Reaches Its Highest Level

 

Bitcoin Rises as Trump’s Chances of Winning the US Presidential Election Increase

Bitcoin Rises as Trump’s Chances of Winning the US Presidential Election Increase After Assassination Attempt

Bitcoin Price Surges Above $60,000

 

 

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Bitcoin 

In response to Donald Trump’s defiant reaction to the assassination attempt,
Bitcoin prices have surged again,
sparking speculation that the incident will boost his chances of winning the presidential election.
The former president, a known cryptocurrency supporter, was shot in his right ear after his political rally in Pennsylvania came under fire on Saturday. His campaign stated that he is “okay” following the incident.

 

 

 

 

 

Dollar 

The US dollar fell against the yen amid speculation of government intervention to support the Japanese currency.
The dollar sharply declined against the yen for the second consecutive day, raising questions about whether Tokyo is intervening to support its currency.
Meanwhile, the global stock index rose on Friday as investors awaited a potential US interest rate cut and the beginning of the earnings season in the United States.

 

 

 

 

 

 

Global Bond

Global bond funds have attracted net inflows for the 29th consecutive week.
and Global bond funds continued to receive net financial inflows for the 29th consecutive week over the seven-day period ending on July 10th.
These positive flows come amid expectations of a Federal Reserve rate cut due to declining inflation levels.

 

 

 

 

Bitcoin Rises as Trump’s Chances of Winning the US Presidential Election Increase

Coinbase Service Outage

Coinbase Service Outage

Coinbase, the leading cryptocurrency exchange in the United States, is experiencing a complete outage.
The company has confirmed that it is investigating the cause of the problem
and assured that customer funds are safe.

 

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Coinbase is facing an outage in all its digital services,
both on its website and through its mobile app,
as stated on its website.
The company is conducting investigations to determine the root of the problem
and has reassured its customers that their funds are secure.
The current outage has halted trading on both the web and mobile platforms.
As of 12:55 PM Singapore time on Tuesday,
the prices of cryptocurrencies have not been significantly affected by this outage.

 

 

Coinbase Service Outage

 

 

Bitcoin continues its strong rally

Bitcoin continues its strong rally

The price of Bitcoin rose above $58,000 during Wednesday’s trading, approaching its all-time high.

 

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The value of the digital currency has now surged by up to 12% on a weekly basis and 38% so far this year,
largely fueled by the excitement generated by a series of exchange-traded funds (ETFs) in the Bitcoin market that began trading in January.

 

Bitcoin surpassed the $57,000 level during yesterday’s trading and reached its highest point since November 2021.
There is now speculation about whether the price will be able to break its all-time high recorded at $68,789.
This surge comes six months before the collapse experienced by digital currency prices in 2022.

 

Since the beginning of the year, Ethereum, the second-largest cryptocurrency, has outperformed Bitcoin by over 10%.
The overall market capitalization of all cryptocurrencies has risen by nearly 30% to around $2.15 trillion.

 

Bitcoin is actively traded in Bitcoin exchange-traded funds launched in January,
providing ordinary investors with a wide opportunity to invest in digital assets.
These funds recorded net inflows of over $6 billion until Tuesday.

 

Bitcoin’s trading volume in this quarter has surpassed levels seen in the previous three months of 2023,
leading to significant increases in the stocks of major cryptocurrency trading companies.

 

 

Bitcoin continues its strong rally