Tag Archives: Crypto News

UK House Prices Rise in December

UK House Prices Rise in December Amid Increased Mortgage Lending

House prices in the UK continued to climb for the fourth consecutive month in December,
driven by a surge in mortgage approvals to their highest level in two years.

 

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United Kingdom

According to a report released by Nationwide Bank on Thursday, the average house price rose by 0.7% month-on-month,
reaching £269,420 ($338,000). Despite this increase, the average remains slightly below the record high of £273,750 ($343,000) recorded in the summer of 2022.

On an annual basis, prices rose by 4.7% compared to December 2023. Robert Gardner,
Chief Economist at Nationwide, noted that the mortgage market and house prices demonstrated significant resilience in 2024,
despite ongoing affordability challenges faced by buyers.

All regions of the UK saw house price growth over the past year.
Northern Ireland outperformed for the second consecutive year,
with prices rising by 7.1% year-on-year, while England recorded a 3.1% increase.

 

 

 

 

 

Switzerland

Switzerland Moves Toward Including Bitcoin in National Reserves

News reports indicate that the Swiss Federal Chancellery has begun implementing a proposal to include Bitcoin in the country’s national reserves alongside gold.
The proposal, submitted by a coalition of ten cryptocurrency advocates,
seeks to amend the Swiss Federal Constitution to allow the Swiss National Bank to hold Bitcoin as part of its monetary reserves.

Advancing this constitutional amendment requires gathering 100,000 signatures,
equivalent to support from 1.12% of Switzerland’s population.
The initiative, launched on December 5 and officially registered in the Swiss Federal Gazette on December 31,
has 18 months to collect the necessary signatures before submission to the Swiss Federal Assembly for review.

The proposal, titled “For a Financially Sound, Sovereign, and Responsible Switzerland,
” aims to amend Article 99 of the Swiss Constitution to mandate that the Swiss National Bank hold part of its reserves in gold and Bitcoin.

Reports suggest that this initiative could mark a significant step toward Switzerland’s official adoption
of Bitcoin as part of its monetary reserves, enhancing its financial independence and ability to navigate global economic fluctuations.

 

 

 

UK House Prices Rise in December Amid Increased Mortgage Lending

 

Crypto Market Rebounds as Market Cap

Crypto Market Rebounds as Market Cap Hits $3.4 Trillion
Cryptocurrency prices experienced a significant rise during Thursday’s trading,
with increased activity pushing the market cap back to $3.4 trillion.
This trend reflects strong investor interest in buying at the start of the new year,
following a profit-taking wave at the end of 2024.

 

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Bitcoin

Bitcoin rose by 2.05%, reaching $96,500.10, while Ethereum climbed 3.12% to $3,454.90,
Ripple increased 3.07% to $2.3881, and Dogecoin jumped 4.62% to $0.3415.
The total cryptocurrency market cap surged by 4.54%, recovering from its dip below $3.4 trillion on December 26.

Ripple recorded an 11% gain in the past 24 hours.
A report from CoinDesk highlighted unusual trading activity for Ripple on South Korean exchanges,
which drove its significant price increase.

 

 

 

 

 

Trump

Meanwhile, the new U.S. administration under Donald Trump appointed businessman David Sacks as a key cryptocurrency advisor.
His role includes overseeing new initiatives, such as a proposal to establish a national Bitcoin reserve,
signaling growing government interest in the sector.

 

This move aligns with efforts to position the United States as a global leader in digital currencies.
Additionally, traditional investment institutions have shown increased interest in cryptocurrencies.
For instance, Wisconsin’s state pension fund recently made substantial investments in Bitcoin,
allocating over $160 million to newly approved funds earlier this year.

With Bitcoin reaching a record high of over $108,000 in December and rising government and institutional support,
the market appears poised for further growth in 2025.

 

 

Crypto Market Rebounds as Market Cap Hits $3.4 Trillion

Bitcoin Hits a New Record High Surpassing $106,000

Bitcoin Hits a New Record High Surpassing $106,000

Bitcoin surged to a historic new peak at the start of the week, surpassing $106,500.
This reflects the continued strong gains seen in recent weeks.
Bitcoin rose by 2.6% to $106,533, driven by investor optimism about pro-digital asset policies expected to be
adopted by President-elect Donald Trump’s administration.

 

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Bitcoin Performance

Trump and Crypto Policies

 

 

 

 

 

 

Bitcoin Performance

The digital currency experienced sharp volatility during the session, with a rapid rise, subsequent dip,
and then a rebound to record its all-time high.
Data from CoinGlass indicates that these sharp fluctuations over the past 24 hours resulted in losses for more than 100,000 traders,
with Binance recording the largest individual liquidation of $19.86 million on the BTC/USDT pair.

Other cryptocurrencies also rose in tandem with Bitcoin.
Ethereum gained 1.85% to $3,971.18 after touching $4,021.96,
Ripple increased by 1.84% to $2.4146, and Dogecoin climbed 1.98% to $0.4060.

 

 

 

 

Trump and Crypto Policies

This positive performance was supported by President-elect Trump’s pledge to establish a strategic Bitcoin reserve
and create a favorable regulatory environment for cryptocurrencies,
contrasting with the policies of former President Joe Biden’s administration.
Additionally, the Nasdaq announced the inclusion of MicroStrategy shares in the Nasdaq 100 Index and the QQQ ETF this month,
adding further support to the market.

This momentum in the crypto market coincides with expectations that the U.S. Federal Reserve
will cut interest rates by 25 basis points at its meeting this week.
Notably, Bitcoin has risen by 8% since the beginning of December, with a year-to-date gain of 145%.

 

 

 

Bitcoin Hits a New Record High Surpassing $106,000

Historic Leap for Bitcoin and Oil Between Gains and Challenges

Historic Leap for Bitcoin and Oil Between Gains and Challenges
The global markets are witnessing significant transformations with cryptocurrencies reaching historic levels
and oil returning to the spotlight due to geopolitical developments.
In this atmosphere, Bitcoin emerges as a symbol of economic change,
while oil continues to fluctuate amid international challenges and risks.

 

 

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Bitcoin

Bitcoin Approaches the $100K Mark Amid Major Political and Economic Shifts.
It has reached an unprecedented historic high, hitting $97,000 for the first time.
This reflects growing momentum in the cryptocurrency market,
coinciding with political and economic changes aimed at strengthening the global position of these digital assets.

 

Unexpected Political Support
Unprecedented support for cryptocurrencies has emerged in the United States.
Reports indicate that President-elect Donald Trump’s team
is considering creating a new governmental position dedicated to digital currency policies.
This move reflects a shift in Trump’s stance, previously skeptical about cryptocurrencies,
which he changed after significant investments in the digital asset sector in his election campaign.

 

Strong Economic Impact
Other factors have bolstered Bitcoin’s gains, including an announcement by MicroStrategy,
the largest publicly traded company holding Bitcoin, about increasing its investments in Bitcoin by selling securities worth $2.6 billion.
The company’s digital assets now amount to $31 billion, positioning it as a leading cryptocurrency supporter.

 

Anticipation Rises Toward the $100K Mark.
As Bitcoin nears the $100,000 threshold, expectations among investors and speculators are growing.
They see this level as a milestone that confirms Bitcoin’s role as a modern-era store of value.
Tony Sycamore, a market analyst at IG Australia,
said that demand for Bitcoin appears “unstoppable” despite potential challenges at this level.

 

Can Cryptocurrencies Overcome Criticism?
Despite historic gains, cryptocurrencies still face criticism about their association
with money laundering and illegal activities and concerns about regulation and oversight.
However, Trump has pledged to create a supportive regulatory framework for digital assets
and proposed establishing a strategic Bitcoin reserve,
which could enhance the U.S.’s position as a key player in the cryptocurrency market.

 

 

 

 

 

 

 

 

Oil

Oil Between Gains and Challenges: Geopolitical Impacts and Economic Pressures
In another context, oil prices increased slightly as investors
continued to evaluate geopolitical risks related to Ukraine and the Middle East.

Brent crude traded near $73 per barrel, while West Texas Intermediate crude settled at around $69.
This came alongside a third consecutive weekly increase in U.S. crude oil inventories, though at a lower rate than expected.

 

Persistent Geopolitical Impacts
Military developments in Ukraine and diplomatic discussions between the U.S. and Israel have influenced the market,
showing that geopolitical factors remain a primary driver.

 

Market Outlook for 2025
Forecasts suggest that oil prices will continue fluctuating between gains and losses,
with limited impact from fundamental factors, given expectations of an oversupply in the coming year.

 

Conclusion
As Bitcoin continues its historic rise driven by political and economic transformations and
oil markets watch for geopolitical developments,
attention remains focused on how these factors will shape global markets in the upcoming phase.

 

 

 

Historic Leap for Bitcoin and Oil Between Gains and Challenges

Bitcoin Nears $70K

Bitcoin Nears $70K Amid Growing Optimism for Risk Assets

Bitcoin is approaching its all-time highs again, fueled by a wave of optimism around digital assets and the upcoming U.S. elections.
Speculators are eyeing a potential surge beyond the record set in March, driven by a favorable outlook for riskier assets.

 

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Global Economic Stimulus Boosts Bitcoin’s Rise

Other Cryptos Also Riding the Wave

 

 

 

 

Global Economic Stimulus Boosts Bitcoin’s Rise

Brett Munster from Blockforce Capital noted that several factors are contributing to this surge, including an increase in global liquidity.
Recent stimulus measures, particularly from China, aimed at bolstering its economy,
are helping to drive these capital inflows into the market.

On Wednesday, Bitcoin saw a 2.9% jump, reaching $68,376 before settling around $67,800.
The cryptocurrency last hit $70,000 in July, with an all-time high of nearly $74,000 recorded in March.

 

The Role of Global Liquidity in Bitcoin’s Growth
Munster highlighted that rising global liquidity tends to correlate with significant upward movements in Bitcoin’s price.
Central banks worldwide are injecting cheap capital into their economies,
creating favorable conditions for digital assets like Bitcoin to flourish.

 

 

 

 

 

 

Other Cryptos Also Riding the Wave

Bitcoin’s rise wasn’t an isolated event; other cryptocurrencies, such as Dogecoin and XRP,
also saw gains, with Dogecoin jumping 10% and XRP climbing by 2%.

 

Political Support Fuels Market Optimism
Adding to the positive sentiment were comments from U.S. Vice President Kamala Harris,
who expressed support for a regulatory framework for cryptocurrencies.
For years, the sector has been seeking clarity from regulators, and with the elections nearing,
there’s hope that the next administration will be more supportive of the crypto industry.

 

Bitcoin as a Political Indicator
Bitcoin’s price surged by 13% over the past week, outperforming global stock indices and gold.
Some investors view this rise as an indicator that the markets are expecting a win for pro-crypto Republican candidate Donald Trump in the upcoming U.S. presidential elections.

 

 

Bitcoin Nears $70K

Tens of Thousands of U.S. Dockworkers Prepare to Strike

Tens of Thousands of U.S. Dockworkers Prepare to Strike

Tens of thousands of dockworkers in the United States are preparing to strike on Tuesday after failing to meet their demands during negotiations for a new labor contract. This move could disrupt international trade just weeks before the U.S. presidential election.

 

 

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United States

Germany

Crypto

 

 

 

 

United States

Negotiations, which began in May, stalled several weeks ago. The U.S. Maritime Alliance, representing employers at major ports on the East Coast and Gulf of Mexico, confirmed that the dockworkers’ union is refusing to return to the negotiating table.
On Thursday, the alliance reached out to the Department of Labor, calling for an “immediate court order requiring the union to resume discussions.” They also condemned what they called unfair practices. However, the union appears determined to strike as soon as the agreement expires at midnight on Monday, citing that the “financial proposals are unacceptable.” The union is also demanding guarantees against the use of automation.

 

 

 

Germany

Expectations for Further Economic Contraction in Germany in 2024
German economic institutes announced on Thursday that Germany is expected to see another decline in GDP in 2024 by 0.1%, as it remains unable to overcome its industrial model crisis. Geraldine Dany-Kindlick from the DIW Institute in Berlin stated, “In addition to the weak economic cycle, structural transformation is also weighing on the German economy.” Germany’s GDP had already shrunk by 0.3% in 2023. Compared to their spring forecasts, this represents a 0.2 percentage point decline for 2024 and a 0.6 percentage point drop for 2025.

 

 

 

 

 

 

 

Crypto

U.S. Imposes Sanctions on Russian Crypto Platforms Over Alleged Money Laundering
The U.S. government has taken action against two Russian individuals and two cryptocurrency exchanges over allegations of illicit financing. The Treasury, Justice, and State Departments, along with a group of international law enforcement agencies, participated in these actions. The Financial Crimes Enforcement Network (FinCEN) within the U.S. Treasury Department identified the Russian cryptocurrency platform “PM2BTC” and its associated individual Sergey Ivanov as entities of “primary concern for money laundering.” Simultaneously, the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on “Ivanov” and the cryptocurrency exchange “Cryptex.” “PM2BTC” is accused of processing proceeds from ransomware attacks and other illegal activities. According to FinCEN, half of its transactions are linked to unlawful operations. Data from “Chainalysis” shows that “PM2BTC” shares a wallet structure with the Universal Anonymous Payment System (UAPS), a system used for processing illegal payments.

 

 

 

Tens of Thousands of U.S. Dockworkers Prepare to Strike

How Has Bitcoin Trading Changed with the Introduction of ETFs?

How Has Bitcoin Trading Changed with the Introduction of ETFs?

The percentage of Bitcoin traded during weekends has dropped significantly,
reaching an all-time low of 16% of total trading volume this year,
according to cryptocurrency research firm Kaiko.

 

 

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Impact of ETFs on Trading Periods

24/7 Trading

Continuing Downtrend

Bitcoin ETFs

Impact of Bank Collapses

Decreased Price Volatility

Relative Stability of Bitcoin

 

 

 

 

 

 

 

Impact of ETFs on Trading Periods

This decline follows the launch of Bitcoin exchange-traded funds (ETFs),
which appear to have shifted Bitcoin trading periods to align more closely
with traditional stock market hours, reducing price volatility.

 

 

24/7 Trading

Cryptocurrencies, unlike stocks, can be traded 24/7, including Saturdays and Sundays.
In the past, Bitcoin was notorious for its “wild weekends,” characterized by severe price fluctuations.
However, this phenomenon has been diminishing since weekend trading peaked at 28% in 2019.
The introduction of Bitcoin ETFs is believed to be a significant factor in this decline.

 

 

Continuing Downtrend

Kaiko’s chief analyst, Dessislava Aubert, noted that the reduction in weekend trading has been a “long-standing trend, exacerbated by the ETFs.” Bitcoin ETFs were approved by the U.S. Securities and Exchange Commission (SEC)
at the beginning of 2024 and have seen strong investor interest,
pushing Bitcoin’s price to a record high in March. Despite some pullback,
the largest cryptocurrency’s price remains up about 45% this year, hovering around $61,000.

 

 

Bitcoin ETFs

Unlike most cryptocurrencies that can be traded anytime on exchanges like Binance,
Bitcoin ETFs follow the trading hours of the traditional stock exchange they are listed on,
meaning no weekend trading.
The proportion of Bitcoin traded on weekdays between 3 and 4 PM has increased to 6.7%,
up from 4.5% in Q4 2023, according to Kaiko.
This period is known as the “fixing window,”
during which ETF managers determine Bitcoin’s price to calculate the net asset value of these funds.

 

 

 

 

 

 

 

Impact of Bank Collapses

Kaiko also notes that the collapse of banks dealing with digital currencies,
such as Silicon Valley Bank and Signature Bank in March 2023, contributed to the decline in weekend trading volumes. Market makers can no longer use these banks’ 24/7 payment networks to buy and sell cryptocurrencies in real-time.

 

 

Decreased Price Volatility

Increased institutional adoption of cryptocurrencies through Bitcoin ETFs has led
to a significant drop in price volatility, according to another Kaiko report.
When Bitcoin last reached record levels in November 2021, volatility soared to nearly 106%.
In March, as Bitcoin hit an all-time high of $73,798 amid optimism about ETFs, volatility was only 40%.

 

 

Relative Stability of Bitcoin

The downward trend in volatility, remaining below 50% since the beginning of 2023,
indicates that Bitcoin has become a more established asset, according to Kaiko.
While it is too early to declare this the new normal,
changes in Bitcoin’s market structure over the past year may help explain
why its price movements have been relatively “boring.”

 

 

 

How Has Bitcoin Trading Changed with the Introduction of ETFs?

Bitcoin Price Temporarily Exceeds $70,000 Amid GameStop

Bitcoin Price Temporarily Exceeds $70,000 Amid GameStop

Frenzy Investors Pour $2 Billion into Crypto Assets in May

 

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Bitcoin’s price briefly surpassed $70,000, driven by four consecutive weeks of inflows into cryptocurrency investments,
amid a new frenzy surrounding GameStop (GameStop) shares, which is fueling speculation around meme coins.

According to a report by CoinShares International Ltd.,
inflows into crypto assets totaled $185 million in the week ending May 31.
Investors poured $2 billion into digital assets during May, including Bitcoin exchange-traded funds.

On Monday morning, Bitcoin’s price temporarily rose above $70,000 for the first time in a week.
Meanwhile, most other cryptocurrencies experienced price fluctuations after an initial rise.

Traders attributed these gains to an indirect effect from the rise in GameStop shares,
driven by a Reddit account that sparked the meme stock frenzy in 2021.

 

 

 

 

 

 

 

Additionally

A cryptocurrency on the Solana blockchain, which uses the name, logo, and symbol of GameStop,
surged over 120% on Monday, according to CoinGecko,
a site that tracks cryptocurrency activity, despite the currency not being legally associated with the company.

This surge followed the rise in GameStop shares after Keith Gill,
known as “Roaring Kitty,” posted a screenshot on Reddit on Sunday showing his significant stake in GameStop shares.
On the other hand, the price of Dogewhatever, one of the most popular meme coins this year, remained largely unchanged.

Spencer Hallarn, head of over-the-counter trading at digital asset firm GSR, stated:
“The massive derivatives position supported GameStop after Roaring Kitty’s announcement on Sunday night,
The significant increases seen in Doge and Bitcoin are sparking a rise in cryptocurrencies within moments of his post being widely shared on Reddit.”

Shiliang Tang, head of the leading trading firm Arbelos Markets,
noted that the market was also influenced by new exchange-traded fund inflows at the start of a new month.
However, he emphasized that GameStop news over the weekend remains the main driver behind market gains.

The CoinShares report added that Ethereum saw a second week of inflows following the excitement
generated by the approval of exchange-traded funds investing directly in Ether in the United States.

 

 

Bitcoin Price Temporarily Exceeds $70,000 Amid GameStop

Bitcoin Price Stabilization

Bitcoin Price Stabilization

Bitcoin’s price has stabilized after experiencing its largest daily drop since 2023, with the largest cryptocurrency’s value dropping by 7.7% on Saturday, marking the steepest decline since March 2023. This drop is part of a broader downturn in the cryptocurrency market, which was influenced by escalating geopolitical tensions in the Middle East, leading to a shift away from risk among investors.

 

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Details

On Sunday, Bitcoin traded at around $63,700 at precisely 6:35 AM Singapore time, after it had pared some of its previous losses.
Other major cryptocurrencies such as Ether, Solana, and Dogecoin also incurred notable losses throughout the day.

 

In a related context, Iran launched drones and offensive missiles against Israel,
apparently in response to a strike in Syria that resulted in the death of several senior Iranian military officers,
escalating the conflict in the region to a new, more perilous phase.

 

It’s noteworthy that digital assets are also traded over the weekends,
providing investors with an opportunity to gauge the potential mood in traditional markets when they reopen on Monday,
although much can change in the interim.

 

 

According to Zuhair Ebtikar, founder of the cryptocurrency fund “Split Capital,” the continuation of selling in the cryptocurrency markets may depend on further geopolitical escalation, pointing out that investors are waiting to see what the markets will look like on Monday.

 

He added that borrowing had significantly deteriorated in the past three days,
leading to a noticeable drop in digital asset prices.
He noted that data from “Coinglass” shows that approximately $1.5 billion in bullish bets on cryptocurrencies were liquidated on Friday and Saturday,
in one of the most severe liquidations over at least the past six months.

 

As the date for the so-called “Bitcoin halving” approaches,
which is expected to halve the new supply of the currency around April 20th,
speculators are waiting to see if this event will support the prices as it has in the past,
despite growing doubts about the likelihood of repeating this scenario especially
after Bitcoin recently reached its all-time high.

 

 

Bitcoin Price Stabilization

Bitcoin Stabilizes Near $42,000

Bitcoin Stabilizes Near $42,000 After Worst Performance Since August

Profit-Taking Lifts Crypto After Decline Tied to Rate-Cut Bets

 

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the details
Expectations

 

 

 

 

 

the details

Bitcoin stabilized near $42,000 on Tuesday after falling 8% in recent weeks, its worst three-day performance since August, raising concerns about more volatility as the end of the year approaches.

The cryptocurrency fell from $45,000, dragging down broader cryptocurrency markets as well.

Some analysts attributed the decline to traders reducing their positions ahead of a Federal Reserve meeting that could signal a rate cut in 2024.

However, most analysts struggled to find a specific reason for the decline, describing it as expected given Bitcoin’s 152% year-to-date gain.

The cryptocurrency has rebounded this year after a setback in 2022, as investors have become increasingly confident that regulators will soon approve the first spot Bitcoin exchange-traded funds (ETFs) in the United States. This could lead to increased demand for the virtual currency.

Caroline Maulon, co-founder of Orbit Markets, a provider of liquidity for digital assets derivatives, said: “Cryptocurrencies have finally seen some profit-taking after a stunning rally in recent weeks.” She added: “We expect more cryptocurrency volatility in the run-up to the approval of spot Bitcoin exchange-traded funds in early January. This volatility could increase during the holiday season.”

 

 

 

 

 

 

Expectations

The cryptocurrency industry is awaiting the outcome of applications submitted by BlackRock and other companies seeking permission to launch Bitcoin ETFs in the United States. Bloomberg Intelligence expects a group of funds to receive approval from the Securities and Exchange Commission (SEC) by next month.

Another factor supporting traders’ sentiment is the upcoming Bitcoin halving in 2024, which will reduce the number of cryptocurrency rewards that miners receive for their work. This event, which takes place every four years, is part of the process of capping Bitcoin’s maximum supply at 21 million coins. Bitcoin has set record highs after each of the last three halvings.

However, on Monday, optimistic scenarios were tempered. Data from Coinglass shows that about $455 million worth of cryptocurrency trading positions betting on rising prices were liquidated on December 11, the highest level since at least mid-September.

Greg Moritz, co-founder of AltTab Capital, a cryptocurrency hedge fund, said: “There were a number of market signals where we can see that Bitcoin is facing general resistance from a technical trading perspective.” He added: “I don’t think this indicates any fundamental change. If anything, it’s a buying opportunity from our perspective.”

Bitcoin rose by about 1% to $41,737 on Tuesday. Smaller altcoins such as Binance (BNB) and Avalanche (AVAX) also rose, while an index tracking the top 100 cryptocurrencies registered modest gains.

 

 

 

Bitcoin Stabilizes Near $42,000 After Worst Performance Since August