https://www.gurutrade.com/news/cryptocurrency/rss/ GuruTrade. The latest news of the cryptocurrency market and the latest blockchain trends Sun, 03 May 2026 05:12:12 +0300 50 en https://www.gurutrade.com/news/china-crypto-tycoon-eyes-hk-capital-with-bitcoin-push-1776882938.html HONG KONG, April 22 Reuters Chinese crypto tycoon Li Lin plans to move a trading system and team from his family office to Hong Konglisted Bitfire Group, where he is the largest shareholder, in an effort to tap into demand for digital assets among investors and institutions. Bitfire, a wealthmanagement firm, on Wednesday said it had agreed to buy the investment team and trading systems of Avenir Group, Li39;s family office, for 1.6 million. Li, from China39;s Hunan province, built Huobi now known as HTX into one of the world39;s largest cryptocurrency exchanges, before a Beijing crackdown reshaped the industry. Cryptocurrency trading has been banned in mainland China since 2021, while Hong Kong is striving to become a virtual asset hub. After selling a controlling stake in Huobi for about 1 billion to crypto entrepreneur Justin Sun in 2022, Li shifted his focus to his family office. With the acquisition, Bitfire plans to raise external money to provide regulated bitcoindenominated asset management services, called the Alpha BTC strategy, said Livio Weng, CEO of Bitfire, in an interview. Weng said the strategy would seek to attract investment equivalent to more than 10,000 bitcoins worth around 760 million within a year. Market demand for such products is huge, Weng said, as a growing number of local firms are holding bitcoin, though they lack ways to make gains from the digital currency. The strategy will generate profits via derivatives trading, such as... https://www.gurutrade.com/news/china-crypto-tycoon-eyes-hk-capital-with-bitcoin-push-1776882938.html Wed, 22 Apr 2026 07:40:42 +0300 https://www.gurutrade.com/news/citigroup-cuts-12-mth-btc-eth-targets-as-us-crypto-legislation-stalls-1773772011.html March 17 Reuters Citigroup cut its 12month forecast for bitcoin and ethereum, citing slow U.S. legislative progress that narrows the window for regulatory catalysts expected to boost ETFdriven demand and broader institutional adoption. Progress on U.S. crypto marketstructure legislation has stalled in the Senate, with the Clarity Act39;s chances of passage declining over disagreements on stablecoin rules and a shrinking window for approval in 2026. The Wall Street brokerage lowered its 12month bitcoin price forecast to 112,000 from 143,000 and its ethereum estimate to 3,175 from 4,304. Regulatory catalysts will drive further adoption and flows but the window of opportunity for U.S. legislation this year is narrowing, Citi strategist Alex Saunders said in a note on Monday. Citi said that under a recessionary macro backdrop, bitcoin could drop to 58,000 and ether to 1,198, while its bull case, driven by stronger endinvestor demand, puts bitcoin as high as 165,000 and ether at 4,488. Bitcoin last traded around 74,298.11 and ether around 2345.51, as of 0750 GMT on Tuesday. ETH will be especially sensitive to user activity metrics, which have been weak recently, but stablecoin and tokenization trends may increase interest and usage, Citi added. Chances for passing a crypto bill would shrink further if Democrats gain seats in the U.S. Congress in November midterm elections, since Democratic lawmakers are more divided on overhauling federal rules to accommodate... https://www.gurutrade.com/news/citigroup-cuts-12-mth-btc-eth-targets-as-us-crypto-legislation-stalls-1773772011.html Tue, 17 Mar 2026 11:30:52 +0200 https://www.gurutrade.com/news/crypto-bill-hits-new-impasse-raising-doubts-over-its-future-1772699873.html Trump says banks trying to 39;undermine39; the bill Banks say provision in bill could cause deposit flight Crypto firms want law passed quickly, before midterm elections March 5 Reuters Talks on landmark crypto legislation have hit a new impasse after banks said they could not back a compromise pushed by the White House, a development that cast doubt on whether the bill will pass this year and sparked criticism from President Donald Trump who accused lenders of trying to undermine it. Trump, who courted crypto cash on the campaign trail and whose family has profited from its own token, has prioritized crypto reform during his second administration. On Tuesday evening, he took to his Truth Social platform to call out the banking industry. We are not going to allow them to undermine our powerful Crypto Agenda, he posted. Crypto companies have been operating in a regulatory gray area which executives say has stymied their businesses. The Clarity Act bill aims to create clear regulations that should help promote cryptocurrency adoption, say its supporters. The bill stalled in January because banks opposed a provision allowing stablecoin issuers and crypto firms to offer yieldbearing products and other rewards that could lure away bank deposits, making it harder for them to fund lending. Crypto giants such as Coinbase say they must be able to offer rewards to recruit customers, and barring them would be anticompetitive. The bank Standard Chartered has estimated,... https://www.gurutrade.com/news/crypto-bill-hits-new-impasse-raising-doubts-over-its-future-1772699873.html Thu, 05 Mar 2026 07:40:29 +0200 https://www.gurutrade.com/news/bitcoin-rebounds-after-brushing-60-000-level-1770370661.html SINGAPORE, Feb 6 Reuters Bitcoin bounced from a 16month low on Friday after testing the key 60,000 level, as a global rout in technology stocks that washed out risky bets across asset classes showed tentative signs of easing. The world39;s largest cryptocurrency was last up 3.3 to 65,198.20, clawing back its losses after having slid 5 to hit a low of 60,008.52 earlier in the session. Still, bitcoin remains pinned near its weakest level since October 2024, a month before Donald Trump won the U.S. presidential election, having signalled his intention to support crypto on the campaign trail. Bitcoin39;s been going down since October 2025, maybe you could ask if it was the canary in the coalmine, or a coincidence, said Chris Weston, head of research at brokerage Pepperstone in Melbourne. A lot of these big crowded positions are being unwound very, very quickly. Ether was last up nearly 4 at 1,919.37, having similarly slid close to a 10month low of 1,751.94 earlier in the session. The global crypto market has lost some 2 trillion in value since hitting a peak of 4.379 trillion in early October, CoinGecko data showed, with more than 1 trillion wiped out over the past month alone. Bitcoin was on track to shed 15 for the week, taking its losses for the year so far to 26. Meanwhile, ether was headed for a weekly decline of 16, with losses of nearly 36 so far this year. Sentiment on crypto had been affected by the latest selling in precious metals and stocks. Gold and... https://www.gurutrade.com/news/bitcoin-rebounds-after-brushing-60-000-level-1770370661.html Fri, 06 Feb 2026 07:40:15 +0200 https://www.gurutrade.com/news/bitcoin-dip-brings-key-70-000-level-into-view-1770290877.html SINGAPORELONDON, Feb 5 Reuters Bitcoin was on the cusp of breaking below the key 70,000 level on Thursday as a slide in the world39;s largest cryptocurrency showed no signs of stopping. Bitcoin fell 2 in early European trade, having dropped as much as 3.5 earlier during the Asian session to 70,052.38, its lowest level since November 2024. Ether , meanwhile, was down 0.7 at 2,111.34. A drop below 2,000 would mark the first time the world39;s secondlargest cryptocurrency has breached that level since May last year. The latest rout in cryptocurrencies, which has come hard and fast, was triggered, analysts say, by the nomination of Kevin Warsh as the next Federal Reserve Chair, due to expectations he could shrink the Fed39;s balance sheet. Bitcoin has already fallen more than 7 for the week, taking its losses for the year thus far to nearly 20, while ether is down close to 30 this year. Cryptocurrencies have widely been regarded as beneficiaries of a large balance sheet, having tended to rally while the Fed greased money markets with liquidity a support for speculative assets. The market fears a hawk with him, said Manuel Villegas Franceschi from the next generation research team at Julius Baer. A smaller balance sheet is not going to provide any tailwinds for crypto. To be sure, cryptocurrencies have struggled for months since a record crash last October sent bitcoin tumbling from a peak as leveraged positions got washed out. That has left investors cooling on... https://www.gurutrade.com/news/bitcoin-dip-brings-key-70-000-level-into-view-1770290877.html Thu, 05 Feb 2026 08:20:13 +0200 https://www.gurutrade.com/news/bitcoin-s-2025-rollercoaster-may-end-on-a-low-1765272358.html Bitcoin39;s correlation with equities strengthening, driven by retail and institutional adoption After October crash, bitcoin has struggled; may end down for the year AI stock volatility affects crypto movements, raising bubble concerns Fed rate cut expectations influence crypto market sentiment Dec 9 Reuters With a series of record highs and crushing selloffs, 2025 has been a rollercoaster ride for bitcoin, the world39;s largest cryptocurrency, which is at risk of ending the year with its first annual decline since 2022. The world39;s main stock benchmarks have also had a turbulent year, repeatedly hitting record peaks and then pulling back as worries over tariffs, interest rates and a possible AI bubble whipsawed markets. While equities are mostly up yeartodate, bitcoin39;s overall correlation with share prices has strengthened markedly this year. Analysts say bitcoin39;s gyrations increasingly tracked stock market sentiment as traditional retail and institutional investors jumped into cryptocurrencies, which next year may be even more closely tethered to factors driving stocks and other risk assets, such as monetary policy shifts and nervousness over the lofty valuations of AIrelated stocks. Crypto reacting to broader equities has been a consistent theme in 2025, said Jasper De Maere, desk strategist at crypto algorithmic trading firm Wintermute. Bitcoin was hovering around 89,000 on Monday. After soaring earlier this year with the election of cryptofriendly... https://www.gurutrade.com/news/bitcoin-s-2025-rollercoaster-may-end-on-a-low-1765272358.html Tue, 09 Dec 2025 07:30:25 +0200 https://www.gurutrade.com/news/bitcoin-drops-5-below-90-000-bearish-factors-rack-up-1764600605.html Bitcoin39;s correlation with stock market impacts risk sentiment Cryptonegative factors add pressure on bitcoin, says Jefferies39; Kumar Record outflows from US bitcoin ETFs in November, LSEG data shows LONDON, Dec 1 Reuters Bitcoin fell below 90,000 on Monday, as a selloff gathered pace following the steepest monthly decline since mid 2021, as renewed risk aversion drove investors out of stocks and digital assets. The worlds largest cryptocurrency fell by as much as 6.1 at one point. By 1120 GMT, it was down 5.2 at 86,461, set for its biggest oneday fall in a month and hovering near last month39;s eightmonth low of 80,553. Bitcoin shed more than 18,000 in November, as a record amount of money rushed out of the market, making this its largest dollar loss since May 2021, when a number of cryptocurrencies collapsed. RISK INDICATOR Given its relatively short lifespan, there is not much in the way of seasonality to guide traders39; expectations for how bitcoin usually behaves in December. On average, bitcoin has tended to rise by around 9.7 in December, ranking it third in terms of performance, with October being the strongest month, with an average gain of 16.6, and with September, the weakest month, with an average loss of 3.5. Of more relevance might be bitcoin39;s tight correlation with the stock market at the moment, analysts said. Bitcoin tends to be a leading indicator for overall risk sentiment right now, and its slide does not bode well for stocks at the... https://www.gurutrade.com/news/bitcoin-drops-5-below-90-000-bearish-factors-rack-up-1764600605.html Mon, 01 Dec 2025 02:10:14 +0200 https://www.gurutrade.com/news/bitcoin-mining-in-china-rebounds-defying-2021-ban-1763989473.html China39;s bitcoin mining market share rebounds to 3rd globally, Hashrate Index shows Beijings softening stance, cheap electricity attract crypto miners Bitcoin seen as strategic asset amid SinoUS rivalry, analyst says Nov 24 Reuters Bitcoin mining is quietly staging a comeback in China despite being banned four years ago, as individual and corporate miners exploit cheap electricity and a data center boom in some energyrich provinces, according to miners and industry data. China had been the world39;s biggest crypto mining country until Beijing banned all cryptocurrency trading and mining in 2021, citing threats to the country39;s financial stability and energy conservation. After having seen its global bitcoin mining market share slump to zero as a result of the ban, China crept back to third place with a 14 share at the end of October, according to Hashrate Index, which tracks bitcoin mining activities. The resurgence in bitcoin mining, which has also been corroborated by rig maker Canaan Incs fastrebounding sales in China, could act as a demand and price support for the worlds largest cryptocurrency. Wang, a private miner in Xinjiang, said he started mining late last year in the energyabundant province. A lot of energy cannot be transmitted out of Xinjiang, so you consume it in the form of crypto mining, Wang said, asking to be identified by just his last name. New mining projects are under construction. What I can say is that people mine where electricity is... https://www.gurutrade.com/news/bitcoin-mining-in-china-rebounds-defying-2021-ban-1763989473.html Mon, 24 Nov 2025 11:30:34 +0200 https://www.gurutrade.com/news/bitcoin-and-other-crypto-assets-sink-in-flight-from-risk-1763735755.html Bitcoin falls to sevenmonth low, ether to fourmonth low Cryptocurrencies have lost 1.2 trillion in 6 weeks CoinGecko Cryptocurrency exchangetraded funds also lower SINGAPORE, Nov 21 Reuters Bitcoin and ether slumped to multimonth lows on Friday, with cryptocurrencies swept up in a broader flight from riskier assets as investors worried about lofty tech valuations and bets on nearterm U.S. interest rate cuts faded. Bitcoin , the world39;s largest cryptocurrency, fell 5.5 to a sevenmonth low of 81,668. Ether slid more than 6 to 2,661.37, its lowest in four months. Both tokens are down roughly 12 so far this week. Cryptocurrencies are often viewed as a barometer of risk appetite and their slide highlights how fragile the mood in markets has turned in recent days, with highflying artificial intelligence stocks tumbling and volatility spiking. CRYPTOCURRENCIES LOSE 1.2 TRILLION IN SIX WEEKS If it39;s telling a story about risk sentiment as a whole, then things could start to get really, really ugly, and that39;s the concern now, Tony Sycamore, a market analyst at IG, said of the fall in bitcoin. About 1.2 trillion has been wiped off the market value of all cryptocurrencies in the past six weeks, according to market tracker CoinGecko. Prices of Hong Konglisted spot bitcoin exchangetraded funds launched by China AMC, Harvest and Bosera fell close to 7 each on Friday. FALL FROM GRACE Bitcoin39;s slide follows a stellar run this year that propelled it to a record... https://www.gurutrade.com/news/bitcoin-and-other-crypto-assets-sink-in-flight-from-risk-1763735755.html Fri, 21 Nov 2025 01:50:33 +0200 https://www.gurutrade.com/news/bitcoin-slides-below-90-000-as-traders-grow-cautious-1763487966.html Bitcoin down nearly 30 from peak Mood is turning quickly, traders say 1.2 trillion wiped off value of crypto since October 7 SINGAPORELONDON, Nov 18 Reuters Bitcoin fell below 90,000 for the first time in seven months on Tuesday, marking the latest sign that investor appetite for risk is drying up across financial markets. The risksensitive cryptocurrency has lost all this year39;s gains and is now nearly 30 below a peak above 126,000 in October. It was last down 1.1 at 92,891, after slipping as low as 89,286.75. About 1.2 trillion has been wiped off the total market value of all cryptocurrencies in the past six weeks, according to market tracker CoinGecko. Market participants said a combination of doubts around future U.S. interest rate cuts and the riskaverse mood in broader markets, which have wobbled after a long rally, was dragging down crypto. 39;CONFIDENCE CAN ERODE WITH REMARKABLE SPEED39; The cascading selloff is amplified by listed companies and institutions exiting their positions after piling in during the rally, compounding contagion risks across the market, said Joshua Chu, cochair of the Hong Kong Web3 Association. When support thins and macro uncertainty rises, confidence can erode with remarkable speed. Speculators who had put money into crypto in the hopes of supportive U.S. regulation have started to pull back, causing steady outflows from ETFs and similar instruments in recent weeks, said Joseph Edwards at Enigma Securities. The sell... https://www.gurutrade.com/news/bitcoin-slides-below-90-000-as-traders-grow-cautious-1763487966.html Tue, 18 Nov 2025 06:30:03 +0200 https://www.gurutrade.com/news/after-record-crypto-crash-rush-to-hedge-against-another-freefal-1760459846.html Options market sees 39;put39; buying in bitcoin, ether Volatility spikes across the board Postcrash, bitcoin flows holding up well Investors shifting flows to bitcoin from altcoins analyst NEW YORK, Oct 13 Reuters Following the largest crypto liquidation in history last Friday, options market investors are bracing for more volatility and further declines in bitcoin and ether, aggressively positioning in trades that offer protection against another potential freefall. Market participants said the crypto sector on Friday saw more than 19 billion in liquidations across leveraged positions as panic selling and low liquidity triggered sharp swings. The plunge came after U.S. President Donald Trump announced late on Friday a 100 tariff on Chinese imports and threatened export controls on critical software. Crypto analysts said this was the largest wipeout in a 24hour period in the market39;s history, nine times larger than the February 2025 crash and 19 times bigger than the March 2020 meltdown and the FTX collapse in November 2022. Bitcoin fell as low as 104,782.88 during the October 1011 period, down more than 14 from its high of 122,574.46 on Friday. It was last up 0.6 at 115,718.13. The world39;s largest cryptocurrency hit a record high above 126,000 on October 6. Ether, the second biggest digital currency, dropped 12.2 to a low of 3,436.29 on Friday. It last changed hands at 4,254, up 2.4 on the day. Altcoins took an even bigger hit as HYPE 54, DOGE 62, and AVAX... https://www.gurutrade.com/news/after-record-crypto-crash-rush-to-hedge-against-another-freefal-1760459846.html Tue, 14 Oct 2025 04:30:38 +0300 https://www.gurutrade.com/news/crypto-race-to-tokenize-stocks-raises-investor-protection-flags-1759919645.html Tokenized stocks can lack traditional investor rights and protections Regulatory concerns grow over tokenization39;s impact on market stability Pushback from Wall Street on SEC39;s potential tokenization exemptions. NEW YORKPARIS, Oct 8 Reuters A race by crypto companies to sell tokens pegged to stocks is raising alarm bells among traditional financial firms and regulatory experts who warn that the fastgrowing novel products pose risks to investors and market stability. Buoyed by President Donald Trump39;s procrypto stance and his administration39;s push for friendly regulations, the crypto industry is rushing to capitalize on a global surge in enthusiasm for the sector. Robinhood, Gemini and Kraken among others have launched tokenized stocks in Europe, while Coinbase, Robinhood and startup Dinari are seeking approval to launch similar products in the United States. Nasdaq, meanwhile, last month became the first major exchange to propose offering tokenized shares. The industry says tokenized shares blockchainbased instruments that track traditional equities could revolutionize stock markets by allowing shares to be traded 247 and settled instantly, boosting liquidity and reducing transaction costs. The combined value of tokenized public stocks geared toward retail investors as of September grew to 412 million, compared with just a few million dollars 12 months ago, according to tokenization tracker RWA.xyz. Although many products are marketed like stocks, they... https://www.gurutrade.com/news/crypto-race-to-tokenize-stocks-raises-investor-protection-flags-1759919645.html Wed, 08 Oct 2025 08:20:50 +0300 https://www.gurutrade.com/news/citi-lifts-eth-outlook-trims-btc-view-investor-flows-shift-1759403239.html Oct 2 Reuters Citigroup raised its yearend outlook for ether and slightly trimmed its view on bitcoin, citing shifting investor flows and macroeconomic crosscurrents. Investors are increasingly favouring the yieldgenerating ether over bitcoin, the world39;s largest cryptocurrency, which relies solely on price appreciation. The Wall Street brokerage39;s target of 133,000 for bitcoin implies a roughly 12 upside from its trading level of 118,747.48, as of 0530 GMT. For ether , the target is 4,500, implying a nearly 3 upside from its level of 4,375. Citi sees continued upside next year, with a 12month target of 5,440 for ether and 181,000 for bitcoin. Bitcoin39;s yearend forecast was revised slightly lower, as Citi pointed to offsetting macro factors including a stronger dollar and weaker gold prices. While bitcoin continues to trade above adoption model estimates, the brokerage said its digital gold narrative remains intact and is likely to attract a larger share of incremental flows. Citi analysts raised their yearend forecast for ether, noting the token39;s sharp price jump over the summer as institutional investors and financial advisors ramped up crypto buying. The brokerage expects it to end 2025 modestly higher, supported by strong inflows from exchangetraded funds and digital asset treasuries. Citi39;s base case assumes robust yearend flows of 7.5 billion into bitcoin, with a bull case predicated on stronger equity markets and higher demand. For ether, the... https://www.gurutrade.com/news/citi-lifts-eth-outlook-trims-btc-view-investor-flows-shift-1759403239.html Thu, 02 Oct 2025 11:40:30 +0300 https://www.gurutrade.com/news/crypto-etfs-set-to-flood-us-market-as-regulator-streamlines-approvals-1758711790.html SEC39;s new standards streamline crypto ETF approvals Grayscale39;s multicoin ETF benefits from revised rules Uncertainty lingers over demand for diverse crypto ETFs Sept 24 Reuters Asset managers are lining up to launch cryptocurrency exchangetraded funds, capitalizing on growing excitement around digital assets while getting a boost from looser regulatory requirements to bring products to market. The U.S. Securities and Exchange Commission39;s updated standards for ETFs, announced last week, could encourage demand for exchangetraded products tied to cryptocurrencies ranging from solana to dogecoin. ETFs around the more traditional cryptocurrencies bitcoin and ethereum were launched in 2024 under prior rules that had stricter standards for issuers and exchanges. There are 21 U.S. ETFs that own either bitcoin or ethereum, or a combination of both, and scores of filings with the SEC for new products tied to other coins. Analysts said they expect the first products approved under the new rules likely ETFs tied to cryptocurrencies solana and XRP to debut in early October. We39;ve got about a dozen filings with the SEC now, and more coming, said Steven McClurg, founder of Canary Capital Group, a digital assets investment management firm that designs and launches ETFs. We39;re all getting ready for a wave of launches. Since the SEC first unveiled the proposed new listing standards in July, firms have scrambled to update their new product filings and respond to... https://www.gurutrade.com/news/crypto-etfs-set-to-flood-us-market-as-regulator-streamlines-approvals-1758711790.html Wed, 24 Sep 2025 01:10:12 +0300 https://www.gurutrade.com/news/sec-paves-way-for-crypto-spot-etfs-with-new-listing-rules-1758185307.html SEC commissioners vote to open crypto ETF floodgates Listing standards approval is latest push by cryptofriendly Trump administration Trading could begin in host of new products in October Reuters The Securities and Exchange Commission voted on Wednesday to approve proposed rule changes by three national securities exchanges, enabling them to adopt generic listing standards for new cryptocurrency and other spot commodity exchangetraded products. The commission vote removes the last remaining hurdle to dozens of new spot ETFs tied to cryptocurrencies ranging from solana to dogecoin. In July, the SEC issued an order spelling out the details of the listing standards, which specify the criteria an asset manager and the exchanges the NYSE, Nasdaq and Cboe Global Markets must meet in order for a new spot crypto ETF to be approved without a lengthy, customized regulatory review. It is the latest step taken by the administration of President Donald Trump to bring crypto assets into the mainstream. Until now, the SEC has handled every spot crypto ETF filing on a casebycase basis, and required two separate filings, one from the exchange that plans to list the product and one from the asset manager, to receive approval from different divisions. The new process will cut the maximum time from filing to launch to 75 days from 240 days, or longer still. This is a watershed moment in Americas regulatory approach to digital assets, overturning more than a decade of precedent... https://www.gurutrade.com/news/sec-paves-way-for-crypto-spot-etfs-with-new-listing-rules-1758185307.html Thu, 18 Sep 2025 07:30:57 +0300 https://www.gurutrade.com/news/asia-s-wealthy-investors-seek-more-crypto-in-portfolios-1755769749.html Funds receive more enquiries, platform trade volumes surge Some family offices eye crypto exposure around 5 of portfolios Hong Kong stablecoin legislation, U.S. GENIUS Act fuel demand Bitcoin climbs to new high above 124,000 in August HONG KONGSINGAPORE, Aug 21 Reuters Wealthy Asian families and family offices are ramping up their cryptocurrency investments, driven by the bullishness around digital assets, increased mainstream adoption and favourable regulatory developments in key markets. Wealth managers said they are receiving more enquiries, cryptocurrency exchanges have seen trading volumes surge and crypto funds are in huge demand as highnetworth Asian investors seek more exposure. We raised over 100 million in just a few months, and the response from LPs has been encouraging, said Jason Huang, founder of NextGen Digital Venture, referring to Limited Partners that represent high networth individuals. Huang launched a new longshort crypto equity fund, the Next Generation Fund II, in Singapore in late May, after winding down his first fund last year, which returned 375 in less than two years. Our investors mainly family offices and internetfintech entrepreneurs, recognise the growing role of digital assets in diversified portfolios, he said. Swiss investment bank UBS said some overseas Chinese family offices plan to raise their crypto exposure to around 5 of their portfolios. Many second and thirdgeneration individuals of family offices are starting to... https://www.gurutrade.com/news/asia-s-wealthy-investors-seek-more-crypto-in-portfolios-1755769749.html Thu, 21 Aug 2025 09:20:35 +0300 https://www.gurutrade.com/news/bitcoin-hits-fresh-record-fed-easing-bets-add-to-tailwinds-1755160878.html TOKYO, Aug 14 Reuters Bitcoin hit a record high on Thursday as increasing expectations for easier monetary policy from the Federal Reserve added to tailwinds from recently announced financial reforms. The world39;s largest cryptoasset by market capitalisation climbed as much as 0.9 to 124,002.49 in early Asia trading, surpassing its previous peak hit in July. On the day, the second largest cryptotoken ether hit 4,780.04, the highest level since late 2021. Bitcoin39;s rally is being powered by increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, said IG market analyst Tony Sycamore. Technically a sustained break above 125k could propel BTC to 150,000, he wrote in a note. Bitcoin has risen nearly 32 so far in 2025 on the back of longsought regulatory wins for the sector following President Donald Trump39;s return to the White House. Trump has called himself the crypto president and his family has made a series of forays into the sector over the past year. An executive order last week paved the way to allow crypto assets in 401k retirement accounts, highlighting an increasingly favorable regulatory environment in the United States. Crypto has scored multiple regulatory wins in the U.S. over 2025, including the passage of stablecoin regulations and the U.S. securities regulator39;s move to overhaul regulations in order to accommodate the asset class. Bitcoin39;s surge has also... https://www.gurutrade.com/news/bitcoin-hits-fresh-record-fed-easing-bets-add-to-tailwinds-1755160878.html Thu, 14 Aug 2025 09:20:25 +0300 https://www.gurutrade.com/news/crypto-linked-stocks-advance-after-trump-signs-stablecoin-law-1753115283.html Ether last at 3,795.4, near its highest level this year Solana also surges, ProShares Ultra Solana ETF up 17.2 July 21 Reuters Shares of cryptolinked companies jumped on Monday, as ether prices scaled their highest this year after President Donald Trump signed into law a bill regulating stablecoins in the U.S. Trump signed the GENIUS Act late on Friday, marking a huge win for crypto industry that has been lobbying for a regulatory framework to gain greater legitimacy. The bill was passed in the House of Representatives by a vote of 308 to 122 on Thursday, after Senate approval. Bitcoin , the world39;s biggest cryptocurrency, inched 0.4 up, though it remains more than 3 away from its alltime high of 123,153 hit last week. The bill bans yields or interest payments on regulated stablecoins, which Deutsche Bank said is leading to a rise in ether prices, on expectations that investors are moving into the world39;s second biggest cryptocurrency as an alternative for yield generation in decentralized finance. It has been a longawaited moment for Ethereum, and although it39;s too early to be fully convinced of a longer term trend shift, the confluence of factors are playing into its favor, said Luke Nolan, senior research associate at CoinShares. Ether was last trading at 3,795.4 after hitting its highest level for the year on Sunday. Both crypto exchange Coinbase Global and stablecoin issuer Circle Internet were about 0.1 higher in early trading. Stablecoins are... https://www.gurutrade.com/news/crypto-linked-stocks-advance-after-trump-signs-stablecoin-law-1753115283.html Mon, 21 Jul 2025 06:00:10 +0300 https://www.gurutrade.com/news/institutional-investors-warm-to-crypto-demand-still-nascent-1752853206.html Bitcoin price hit new record this week Limited data, opaque wallets make it hard to pinpoint buyers Institutional interest growing but still small US policy embrace growing in pivotal 39;crypto week39; NEW YORK, July 17 Reuters Bitcoin39;s surge to a record this week has reignited questions about the role institutional investors are playing in pushing it higher, with analysts suggesting their role is still in its infancy. The world39;s largest cryptocurrency earlier this week surged to a record above 123,000, receiving a boost on the expectation of procrypto policies from Washington. While buzz around digital assets has increased, there is room for demand from institutional investors to grow as pension funds and other longterm buyers add bitcoin to their portfolios, analysts say. On Thursday, the U.S. House of Representatives voted in favor of creating a regulatory framework for the U.S. dollarpegged cryptocurrency tokens referred to as stablecoins. President Donald Trump is expected to sign that legislation into law on Friday. The House also passed two other key bills related to cryptocurrencies, both of which will now go to the U.S. Senate. We39;re still in the early innings when it comes to institutional ownership, said Adrian Fritz, head of research at 21Shares, a digital assets investment firm, adding that retail investors still dominate crypto markets. Less than 5 of all spot bitcoin Exchange Traded Fund assets are held by longterm investors such as... https://www.gurutrade.com/news/institutional-investors-warm-to-crypto-demand-still-nascent-1752853206.html Fri, 18 Jul 2025 02:00:23 +0300 https://www.gurutrade.com/news/ether-linked-stocks-jump-as-crypto-coin-hits-6-month-high-1752850944.html July 18 Reuters Cryptocurrencyrelated stocks rose in premarket trading on Friday, with shares linked to ether leading the charge after the No. 2 crypto hit a sixmonth high. Shares of BitMine Immersion Technologies, which holds about 1 billion worth of ether, soared 14. Other ether holding firms Bit Digital and BTCS added 4 and 12.5, respectively. Ether climbed to 3,675.81, its highest since January 6, and was last up 5 at 3,601.40, outperforming bitcoin , which eased 0.7 to 118,961 after hitting a record high of 123,153 this week. BitMine, where tech billionaire Peter Thiel is the top investor and Fundstrat39;s Tom Lee serves as chairman of the board, said on Thursday it had accumulated 300,657 ether in just three weeks and aims to acquire about 5 of over ether supply which currently stands at 120.71 million. A number of other companies recently decided to add ether to their balance sheets, following the example of Strategy , the largest corporate holder of bitcoin. Strategy39;s bitcoin stockpile was acquired at a sharp discount over the years to current price. SharpLink, which has funded its ether treasury through stock sale over the past seven weeks, said it had raised its current 1 billion share sale plan by an additional 5 billion. Its shares rose 5.6. Ether benefits from increased usage of U.S.dollarpegged tokens known as stablecoins. Most stablecoins are issued and transacted on the underlying blockchain Ethereum, driving up demand for ether to pay transaction... https://www.gurutrade.com/news/ether-linked-stocks-jump-as-crypto-coin-hits-6-month-high-1752850944.html Fri, 18 Jul 2025 01:40:27 +0300 https://www.gurutrade.com/news/btc-climbs-to-record-123-000-as-investors-eye-u-s-policy-boost-1752577042.html Bitcoin hits record, buoyed by potential US regulatory framework US to debate bills, Trump supports industryfriendly policies Crypto market value hits 3.8 trillion; digital assets rally NEW YORK, Reuters Bitcoin vaulted past 120,000 for the first time on Monday, the latest milestone for the world39;s largest cryptocurrency as investors bet on longsought policy wins for the industry this week, which has been dubbed crypto week by U.S. Republicans. Bitcoin rose more than 3 to register a record high of 123,153.22 before easing, and was last up 0.5 at 119,750.86. The cryptocurrency is now up more than 27 on the year. The U.S. House of Representatives is set to debate and likely pass a series of cryptorelated bills this week. The bills could provide the digital asset industry with the nation39;s regulatory framework it has long sought. Those demands have resonated with U.S. President Donald Trump, a Republican who has called himself the crypto president and urged policymakers to revamp rules in favour of the industry. It39;s riding a number of tailwinds at the moment, said IG market analyst Tony Sycamore, citing institutional demand, expectations of further gains and support from Trump as reasons for the bullishness. It39;s been a very, very, strong move over the past six or seven days and it39;s hard to see where it stops now. It looks like it can easily have a look at the 125,000 level, he said. Trump and his family have made a series of forays into... https://www.gurutrade.com/news/btc-climbs-to-record-123-000-as-investors-eye-u-s-policy-boost-1752577042.html Tue, 15 Jul 2025 08:00:19 +0300 https://www.gurutrade.com/news/bitcoin-jumps-to-record-on-institutional-investor-demand-1752217143.html NEW YORKSINGAPORE, July 11 Reuters Bitcoin rallied to an alltime high on Friday, powered by demand from institutional investors and cryptofriendly policies from U.S. President Donald Trump39;s administration. The world39;s largest cryptocurrency rose to a peak of 116,781.10 in the Asian session on Friday, taking its gains for the year so far to more than 24. It was last trading at 116,563.11. Bitcoin39;s new alltime high is being driven by relentless institutional accumulation major players are scooping up supply and drying up liquidity on exchanges, said Joshua Chu, cochair of the Hong Kong Web3 Association. In March, Trump signed an executive order to establish a strategic reserve of cryptocurrencies. He has also appointed several cryptofriendly individuals, including Securities and Exchange Commission Chair Paul Atkins and White House artificial intelligence czar David Sacks. Trump39;s family businesses have also made forays into cryptocurrencies. Trump Media Technology Group is looking to launch an exchangetraded fund to invest in multiple crypto tokens including Bitcoin, an SEC filing on Tuesday showed. Ether , the world39;s secondlargest cryptocurrency, similarly jumped nearly 5 to 2,956.82, after earlier hitting a fivemonth high of 2,998.41. Reporting by Chibuike Oguh in New York and Disha Mishra in Bengaluru; Editing by Nick Zieminski, Richard Chang, Christian Schmollinger and Kate Mayberry Source Reuters https://www.gurutrade.com/news/bitcoin-jumps-to-record-on-institutional-investor-demand-1752217143.html Fri, 11 Jul 2025 08:20:40 +0300 https://www.gurutrade.com/news/bitcoin-soars-to-all-time-peak-just-shy-of-112-000-1752156697.html NEW YORK, July 9 Reuters Bitcoin climbed to an alltime high near 112,000 late on Wednesday, bolstered by an increased risk appetite and persistent institutional demand as traditional financial market players embraced the world39;s largest cryptocurrency. It touched a record peak of 111,988.90 and was last up 0.4 at 111,259. Since the beginning of the year, bitcoin has advanced more than 18. Bitcoin is the only asset I am aware of where it becomes less risky as it grows in size, wrote Anthony Pompliano, founder and CEO of Professional Capital Management in a letter to investors on Wednesday. There were few sophisticated capital allocators who could gain exposure when bitcoin was 100200 billion market cap. Now that the asset is measured in trillions, almost every capital allocator on the planet can put the exposure on. The Trump administration39;s cryptofriendly policies have bolstered digital assets overall, opening pools of capital to the sector. For instance, Trump Media Technology Group , run by the U.S. president39;s family, is looking to launch an exchangetraded fund that will invest in multiple crypto tokens, including bitcoin, ether, solana and ripple, according to a filing with the U.S. markets regulator on Tuesday. Bitcoin39;s rally also spread to other cryptocurrencies. Ether, the secondlargest digital currency in terms of market capitalization, also rallied, hitting a onemonth high of 2,794.95. It last traded up 5.4 at 2,740.99 . Other cryptorelated... https://www.gurutrade.com/news/bitcoin-soars-to-all-time-peak-just-shy-of-112-000-1752156697.html Thu, 10 Jul 2025 03:20:39 +0300 https://www.gurutrade.com/news/stablecoins-market-cap-surges-to-record-high-as-us-senate-passes-bill-1750267276.html June 18 Reuters The total market capitalization of stablecoins surged to a record high on Wednesday, data showed, as the U.S. Senate passed a bill to regulate the sector, a major step towards legitimising a onceniche but now fastgrowing corner of the crypto market. According to CoinDesk data, the market capitalization of stablecoins hit an alltime high of 251.7 billion, up 22 so far this year. Stablecoins are a type of cryptocurrency designed to maintain a constant value, usually via a 11 peg with the U.S. dollar. They are commonly used by crypto traders to move funds between tokens. Their use has soared in recent years, and analysts expect the market to grow further once the U.S. legislation has passed. Proponents say stablecoins could be used to send payments instantly, while others worry they will lead to closer ties between the crypto world and traditional financial markets. If the U.S. bill is eventually signed into law, stablecoins would be required to be backed by liquid assets such as U.S. dollars and shortterm Treasury bills, and for issuers to publicly disclose the composition of their reserves on a monthly basis. Reporting By Patturaja Murugaboopathy in Bengaluru; Editing by Tommy Reggiori Wilkes and Alex Richardson Source Reuters https://www.gurutrade.com/news/stablecoins-market-cap-surges-to-record-high-as-us-senate-passes-bill-1750267276.html Wed, 18 Jun 2025 05:40:33 +0300 https://www.gurutrade.com/news/crypto-funds-assets-hit-high-investors-hedge-and-diversify-1749481290.html June 9 Reuters Assets held in crypto funds hit a record high in May as easing trade tensions lifted risk appetite and some investors used the digital currencies to hedge against market volatility and diversify from their U.S. holdings. Morningstar data on 294 crypto funds shows they attracted 7.05 billion in net inflows last month, the highest since December, bringing total assets under management to a record 167 billion. Nicolas Lin, CEO of fintech firm Aether Holdings, said bitcoin is starting to come into its own again, not just as a highvolatility asset, but as something that more investors are using to hedge their exposure. Bitcoin has gained more than 15 over the past three months, outperforming a 3.6 rise in the MSCI World Index and a 13.3 gain for gold. Nic Puckri, analyst and founder of Coin Bureau, said one of the main drivers of bitcoin39;s rise is a loss of faith in the U.S. investment story. The greenback is projected to keep plummeting, bond yields are rising, theres uncertainty about the equity markets. But bitcoin seems to be holding strong. Bitcoin has been buoyed by institutional inflows over the past year following the approval of spot bitcoin and ether ETFs in the United States. In contrast to the crypto funds, Lipper data showed a net 5.9 billion flowed out of global equity funds in May, while gold funds posted their first outflow in 15 months, of 678 million, pointing to a broader shift in portfolio diversification. I think flows will stay... https://www.gurutrade.com/news/crypto-funds-assets-hit-high-investors-hedge-and-diversify-1749481290.html Mon, 09 Jun 2025 03:40:33 +0300 https://www.gurutrade.com/news/bitcoin-surges-to-all-time-peak-as-crypto-sentiment-improves-1747897896.html LONDONNEW YORK, Reuters Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month39;s tariffinduced selloff. The world39;s largest cryptocurrency touched a high of 109,760.08, and was last up 1.1 at 108,117. Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody39;s downgrade of U.S. sovereign debt which has prompted investors to seek alternative investment sources to the dollar. Now that January39;s high has been surpassed and the 50 percent upside from April39;s lows has been achieved bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment, Antoni Trenchev, cofounder of digital asset trading platform Nexo, said in an emailed comment. Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The techheavy Nasdaq is up 30 from its early April low. That has also coincided with continued weakness in the dollar, a further boost for bitcoin39;s exchange rate against the U.S. currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month,... https://www.gurutrade.com/news/bitcoin-surges-to-all-time-peak-as-crypto-sentiment-improves-1747897896.html Thu, 22 May 2025 07:30:38 +0300 https://www.gurutrade.com/news/bitcoin-slides-more-than-5-to-lowest-since-november-11-1740729700.html SINGAPORE, Feb 28 Reuters Bitcoin fell to a 312month low on Friday, dragged by uncertainty about U.S. President Donald Trump39;s tariff plans and crypto policy and flagging investor confidence after a 1.5 billion hack in rival coin ether. Bitcoin, the world39;s largest cryptocurrency by market value, was last down more than 5 on the day at 79,666, trading below 80,000 for the first time since November 11. Bitcoin39;s fall below 80k shows that positive sentiments from a cryptofriendly administration and highprofile endorsements have run their course, said Joshua Chu, CoChair of the Hong Kong Web3 Association. The world39;s largest cryptocurrency has shed a quarter of its market value since midDecember, when it topped 105,000 on optimism that the Trump administration would champion a strategic bitcoin fund and loosen regulation. Beyond a flurry of appointments of cryptofriendly officials when he took office, there has been little concrete news around that policy for investors. Momentum ran out when there was no fresh news to keep driving the bullish narrative, said Kyle Rodda, senior financial market analyst at Capital.com. On top of that, given the move in Mag 7 stocks we39;ve seen, which is also a story of momentum slowing and valuations deflating, bitcoin, which still trades as a 39;higher beta tech39; play, is being dragged down by selloff in Wall Street tech stocks. Ether , the secondlargest cryptocurrency by market value, was down nearly 6 at 2,149.38,... https://www.gurutrade.com/news/bitcoin-slides-more-than-5-to-lowest-since-november-11-1740729700.html Fri, 28 Feb 2025 07:40:22 +0200 https://www.gurutrade.com/news/btc-falls-below-90-000-for-1st-ttime-in-month-ether-tumbles-1740481031.html LONDON, Feb 25 Reuters Cryptocurrencies bitcoin and ether dropped to multimonth lows on Tuesday, caught up in a general crossmarket selloff, and as traders continued to process last week39;s hack of 1.5 billion worth of ether from cryptoexchange Bybit. Bitcoin, the world39;s largest cryptocurrency by market value, dropped as much as 6 to 88,245, its lowest since November, and the first time it has fallen below 90,000 since the middle of January. No 2. cryptocurrency ether shed as much as 11 at one point to 2,333, its lowest since October. Reporting by Alun John; Editing by Amanda Cooper Source Reuters https://www.gurutrade.com/news/btc-falls-below-90-000-for-1st-ttime-in-month-ether-tumbles-1740481031.html Tue, 25 Feb 2025 11:00:54 +0200 https://www.gurutrade.com/news/crypto-trading-booms-in-india-s-smaller-cities-as-job-growth-and-incomes-disappoint-1740477891.html Trading volume on India39;s four top exchanges doubles, driven by smaller cities Traders shift to crypto from options trading following tighter rules Government is yet to take a view on regulation NAGPUR, India, Feb 25 Reuters Like thousands of his countrymen in farflung places, flowershop owner Ashish Nagose has been learning about trading cryptocurrencies by attending classes every weekday for the past two months in his home city of Nagpur in western India. Nagose bought and sold stock options earlier but is now venturing into cryptocurrencies as regulators have made it harder to trade equity derivatives in India. The 28yearold believes the redhot crypto asset class can help shield his familyowned flower shop during downturns. I want to run my family shop, and hope that trading can provide a steady income when business slows down, like in the month after the Hindu festival of Diwali, he said, seated at the storefront surrounded by bunches of red roses and orange marigolds. Newfound crypto enthusiasts in India such as Nagose have helped grow cumulative trading volumes of bitcoin, ethereum, dogecoin and other cryptocurrencies on four of its largest exchanges more than twofold quarteronquarter to 1.9 billion in the OctoberDecember quarter, according to data from aggregator CoinGecko. Many young Indians are dabbling in crypto trading to supplement their regular income in the world39;s most populous country where jobs and pay increases have lagged worldbeating... https://www.gurutrade.com/news/crypto-trading-booms-in-india-s-smaller-cities-as-job-growth-and-incomes-disappoint-1740477891.html Tue, 25 Feb 2025 08:50:11 +0200 https://www.gurutrade.com/news/bitcoin-slides-below-100-000-trump-tariffs-rattle-markets-1738570022.html SINGAPORE, Feb 3 Reuters Cryptocurrency prices slid on Monday, with bitcoin at a threeweek low and ether at its lowest since early September, as the spectre of a global trade war put investors on edge and pushed them out of risky assets. Bitcoin , the world39;s biggest and bestknown crypto, fell to 94,476.18 on Monday morning in Asia, touching a threeweek low of around 91,441.89. Smaller cryptocurrency ether was down around 24 and back to levels last seen in early September. It last fetched 2,494.33. Over the weekend, U.S. President Donald Trump imposed 25 tariffs on Mexican and most Canadian imports, and 10 on goods from China, starting on Tuesday. Canada and Mexico, the top two U.S. trading partners, immediately vowed retaliatory measures, and China said it would challenge Trump39;s levies at the World Trade Organization. Cryptocurrencies trade around the clock, including on weekends, and have lately been sensitive to markets39; broader sentiment. Investors worry that tariffs can hurt growth and company earnings as well as be inflationary. Crypto is really the only way to express risk over the weekend, and on news like this crypto resorts to a risk proxy, said Chris Weston, head of research at Pepperstone. At the same time, there is added downward pressure on crypto after a strong rally in the wake of Trump39;s election, as some investors have felt disappointed at the lack of immediate moves to boost crypto or loosen regulations since he took office. Bitcoin... https://www.gurutrade.com/news/bitcoin-slides-below-100-000-trump-tariffs-rattle-markets-1738570022.html Mon, 03 Feb 2025 07:30:11 +0200 https://www.gurutrade.com/news/bitcoin-rally-cools-as-trump-makes-no-new-mention-of-crypto-1737479047.html SINGAPOREPARIS, Jan 21 Reuters Bitcoin, other cryptocurrencies and even the newly minted token bearing Donald Trump39;s name cooled on Tuesday, after the U.S. president39;s first set of policies following his inauguration made no reference to the asset class. Bitcoin, the world39;s largest cryptocurrency, hit a record high 109,071 on Monday when Trump was sworn in as the 47th U.S. president, but later started falling. By 1001 GMT on Tuesday, it was trading at 102,546.13 still up around 9.5 so far this month. Trump39;s own cryptocurrency, launched on Friday night, was trading at 37.98, according to cryptocurrency price tracker CoinMarketCap, having roughly halved since its peak around 75 on Monday, when its market value exceeded 14 billion. The coin had been priced around 6.50 at its launch. Trump39;s inaugural speech on Monday was accompanied by a host of executive orders and plans relating to trade tariffs, immigration, energy deregulation and even a reprieve for popular Chinese shortvideo app TikTok. But he did not mention cryptocurrencies. The digital asset market is disappointed to not have been mentioned in the inauguration speech or day 1 executive orders, said Geoffrey Kendrick, global head of digital assets research at Standard Chartered. I suspect bitcoin will end up going lower so long as we get no news from Trump on digital assets. A break back below 100,000 seems inevitable, he said. Hopes had been building among crypto investors for months that the... https://www.gurutrade.com/news/bitcoin-rally-cools-as-trump-makes-no-new-mention-of-crypto-1737479047.html Tue, 21 Jan 2025 02:40:43 +0200 https://www.gurutrade.com/news/bitcoin-more-than-doubles-in-2024-on-spot-etf-approval-trump-euphoria-1735687377.html Bitcoin surges over 120 and hits 100,000 milestone in 2024 Sector market value reaches 3.5 trillion Institutional adoption grows Trump39;s reelection boosts industry confidence Dec 31 Reuters Bitcoin more than doubled in 2024 driven by the U.S. markets regulator39;s approval for exchangetraded funds tied to its spot price, and optimism over easing regulatory hurdles with Donald Trump set to return to the White House. The world39;s largest and most wellknown cryptocurrency hit 100,000 earlier this month, a milestone that has ignited 39;animal spirits39; among supporters of the oncenascent asset class. A more than 120 surge in bitcoin this year and a nearly 50 jump in ether , the secondlargest cryptocurrency, have propelled the sector39;s market value to roughly 3.5 trillion, according to CoinGecko data. More gains are in store for 2025, according to analysts. We remain convinced 100,000 is not the final milestone. We expect Bitcoin to hit a cyclehigh of 200,000 in late 2025, analysts at brokerage Bernstein wrote in a client note earlier this month. MicroStrategy, a software firm that has become the world39;s largest corporate holder of bitcoin, has seen its shares surge nearly fivefold in 2024. The stock, which joined the benchmark Nasdaq100 index recently, is now seen as a proxy for bitcoin, with its movement closely tied to sentiment towards the digital asset. Several smaller companies are following its playbook and allocating portions of their cash to... https://www.gurutrade.com/news/bitcoin-more-than-doubles-in-2024-on-spot-etf-approval-trump-euphoria-1735687377.html Tue, 31 Dec 2024 08:20:22 +0200 https://www.gurutrade.com/news/us-crypto-industry-eyes-possible-day-one-trump-executive-orders-1734967975.html Trump likely to try to push cryptocurrencies mainstream Industry seeks bitcoin stockpile, banking access, crypto council Regulations overhaul also possible Dec 23 Reuters The cryptocurrency industry is pushing Presidentelect Donald Trump39;s team to kick start his promised crypto policy overhaul when he takes office next month with executive orders that would help push tokens mainstream, according to industry officials. Trump plans to issue a flurry of executive orders and directives on everything from immigration to energy on his first day in office on Jan. 20, Reuters reported this month. On the campaign trail, Trump courted crypto cash with promises to be a crypto president, and the industry wants him to make good on that pledge with executive orders creating a bitcoin stockpile, ensuring the industry can access banking services, and creating a crypto council, the people said. They are pushing for those executive orders within Trump39;s first 100 days in office, and expect at least one could come on Jan. 20, said two other people with knowledge of the matter. Given the tenor of the campaign, it would be imperative for executive orders to really set out what the actual priorities will be on day one and provide some kind of roadmap, said Rebecca Rettig, chief legal and policy officer at crypto company Polygon Labs. Worried about crime and volatility, President Joe Biden39;s regulators cracked down on crypto companies, but Trump has pledged to reverse course.... https://www.gurutrade.com/news/us-crypto-industry-eyes-possible-day-one-trump-executive-orders-1734967975.html Mon, 23 Dec 2024 01:40:28 +0200 https://www.gurutrade.com/news/hong-kong-approves-four-more-cryptocurrency-exchanges-1734543094.html HONG KONG, Dec 18 Reuters Hong Kong39;s securities regulator on Wednesday approved four cryptocurrency exchanges in the city39;s latest effort to stay competitive in a race to become a global centre for digital asset trading. Hong Kong has been promoting itself as a hub for assets such as cryptocurrencies in a effort to maintain its attractions as a financial centre. The Hong Kong Securities and Futures Commission said it had granted licences to Accumulus GBA Technology Hongkong Co., DFX Labs Company, Hong Kong Digital Asset EX, and Thousand Whales Technology BVI. This brings the total licensed virtual asset trading platforms in the city to seven. Hong Kong previously approved three trading platforms HashKey, OSL and HKVAX. The introduction of new participants demonstrates Hong Kong39;s longterm vision and commitment to digital assets, said Nick Ruck, director at LVRG Research, adding the international race to become the world39;s crypto hub has intensified as companies have flocked to other jurisdictions, such as Singapore and Dubai. The securities watchdog said the latest approvals were under its swift licensing process. In April, Hong Kong launched Asia39;s first spot bitcoin and ether exchange traded funds ETFs, following the U.S. debut of its first spot bitcoin ETFs three months earlier. Such ETFs are products that track bitcoin prices. Analysts have noted that increasing the number of trading platforms will help reduce crypto ETF management fees, making the... https://www.gurutrade.com/news/hong-kong-approves-four-more-cryptocurrency-exchanges-1734543094.html Wed, 18 Dec 2024 04:10:37 +0200 https://www.gurutrade.com/news/btc-rallies-past-107-000-hopes-grow-for-strategic-reserve-1734425843.html Bitcoin hits record high amid Trump39;s procrypto stance Price up over 50 since Nov US election Bitcoin buyer MicroStrategy joins Nasdaq 100 Dec 16 Reuters Bitcoin39;s record rally topped 107,000 on Monday after Presidentelect Donald Trump reiterated that he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls. Investor sentiment also got a lift from the inclusion of MicroStrategy into the techheavy Nasdaq 100 index that will likely lead to more inflows for the software firm turned bitcoin buyer. Bitcoin , the world39;s biggest and best known cryptocurrency, extended gains to a session high of 107,148 and was most recently at 106,877, up 5.43 from late Friday. The No. 2 digital currency ether was up 1.85 at 3,975.70. We39;re in blue sky territory here, said Tony Sycamore, an analyst at IG. The next figure the market will be looking for is 110,000. The pullback that a lot of people were waiting for just didn39;t happen, because now we39;ve got this news. Bitcoin and crypto have been catapulted into the spotlight as investors wager the incoming Trump administration will usher in a friendlier regulatory environment, boosting sentiment around the alternative currency. Bitcoin is up about 150 in 2024. We39;re gonna do something great with crypto because we don39;t want China or anybody else not just China but others are embracing it and we want to be the head, Trump told CNBC late last week.... https://www.gurutrade.com/news/btc-rallies-past-107-000-hopes-grow-for-strategic-reserve-1734425843.html Tue, 17 Dec 2024 07:40:31 +0200 https://www.gurutrade.com/news/bitcoin-surges-above-106-000-on-strategic-reserve-hopes-1734343783.html Bitcoin hits record high amid Trump39;s procrypto stance Bitcoin up over 50 since Nov US election Inclusion of bitcoin buyer MicroStrategy in Nasdaq 100 also seen boosting crypto Dec 16 Reuters Bitcoin surged to a record high above 106,000 on Monday after Presidentelect Donald Trump suggested he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls. Bitcoin , the world39;s biggest and best known cryptocurrency, hit a high of 106,533 and last traded up 3.2 to 104,462. Smaller crypto ether rose 1.5 to 3,965. We39;re in blue sky territory here, said Tony Sycamore, an analyst at IG. The next figure the market will be looking for is 110,000. The pullback that a lot of people were waiting for just didn39;t happen, because now we39;ve got this news. Investor sentiment also got a lift from the inclusion of MicroStrategy into the techheavy Nasdaq 100 index that will likely lead to more inflows for the software firm turned bitcoin buyer. Bitcoin and crypto have been catapulted into the spotlight as investors wager the incoming Trump administration will usher in a friendlier regulatory environment, boosting sentiment around the alternate currency. Bitcoin is up 192 for the year. We39;re gonna do something great with crypto because we don39;t want China or anybody else not just China but others are embracing it and we want to be the head, Trump told CNBC late last week. When asked if he plans to... https://www.gurutrade.com/news/bitcoin-surges-above-106-000-on-strategic-reserve-hopes-1734343783.html Mon, 16 Dec 2024 07:20:51 +0200 https://www.gurutrade.com/news/rate-cut-bets-boost-stocks-as-bitcoin-breaks-100-000-1733387479.html Markets price more US rate cuts in 2025 OPEC expected to extend production cuts Yen steadies as reports ruffle rate hike bets SINGAPORE, Dec 5 Reuters Bitcoin broke 100,000 on Thursday as investors bet on a friendly regulatory shift in the U.S., while Asian stocks were firm after Wall Street indexes notched record highs on growing confidence in U.S. interest rate cuts. Bitcoin hit the 100,000 mark in the Asia morning and was last at 103,400. At the end of the day, it39;s just a number, said Geoff Kendrick, global head of digital assets research at Standard Chartered. But the reality is we39;ve been able to get to this level because the industry has become institutionalised this year particularly and that39;s mostly the ETF inflows, he said, referring to exchange traded funds approved earlier this year. The SP 500, Nasdaq and Dow had all notched record highs overnight. Over the past week and a half markets have all but priced in an extra U.S. rate cut for 2025 and the implied chance of a cut in December has lifted from even to around 75. SP 500 futures slipped a tad while European futures fell 0.2. German stocks are up 4 in a week and at recordhigh levels. MSCI39;s broadest index of AsiaPacific shares outside Japan dipped 0.2 as selling in Hong Kong offset gains in Australia and Japan. Japan39;s Nikkei touched a threeweek high and was last up about 0.4. Hong Kong39;s Hang Seng fell around 1.1. The closely watched U.S. ISM survey showed services sector... https://www.gurutrade.com/news/rate-cut-bets-boost-stocks-as-bitcoin-breaks-100-000-1733387479.html Thu, 05 Dec 2024 07:40:16 +0200 https://www.gurutrade.com/news/btc-approaches-100-000-on-optimism-over-trump-crypto-plans-1732262346.html Bitcoin has doubled this year, up 40 since US election Trump, procrypto Congress seen clearing regulatory clouds Cryptorelated stocks surging SINGAPORELONDONNEW YORK, Reuters Bitcoin came within a whisker of closing above 100,000 for the first time on Thursday as the election of Republican Donald Trump as U.S. president spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies. The world39;s largest cryptocurrency was trading between 98,000 and 99,000 in late afternoon trading in the U.S. on Thursday, after briefly touching 99,073. Bitcoin has more than doubled in value this year and is up about 40 in the two weeks since Trump was voted in as the next U.S. president and a slew of procrypto lawmakers were elected to Congress. Trump embraced digital assets during his campaign, promising to make the United States the crypto capital of the planet and to accumulate a national stockpile of bitcoin. Crypto investors see an end to increased scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler, whom Trump has said he will replace. Trump also unveiled a new crypto business, World Liberty Financial, in September. Although details about the business have been scarce, investors have taken his personal interest in the sector as a bullish signal. Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies. Over 16 years after its creation, bitcoin appears on the cusp of mainstream... https://www.gurutrade.com/news/btc-approaches-100-000-on-optimism-over-trump-crypto-plans-1732262346.html Fri, 22 Nov 2024 07:50:50 +0200 https://www.gurutrade.com/news/btc-breaks-96-000-for-1st-time-on-optimism-over-trump-crypto-plans-1732176607.html Bitcoin has doubled this year, up 40 since US election Trump, procrypto Congress seen clearing regulatory clouds Cryptorelated stocks surging SINGAPORE, Nov 21 Reuters Bitcoin39;s march toward 100,000 made further ground on Thursday as investors bet a friendlier U.S. regulatory approach to cryptocurrencies under Presidentelect Donald Trump will unleash a boom era for the asset class. Bitcoin prices topped 96,000 for the first time in Asia trade, touching a high just above 96,898. The cryptocurrency39;s price has more than doubled this year and is up about 40 in the two weeks since Trump was voted in as the next U.S. president and a slew of procrypto lawmakers were elected to Congress. While it39;s now firmly into overbought territory, it is being drawn toward the 100k level, said IG Markets analyst Tony Sycamore. Trump embraced digital assets during his campaign, promising to make the United States the crypto capital of the planet and to accumulate a national stockpile of bitcoin. More than 4 billion has streamed into U.S. listed bitcoin exchangetraded funds since the election. This week, there was a strong debut for options on BlackRock39;s ETF, with call options bets on the price going up more popular than puts. Cryptorelated stocks have been soaring along with the bitcoin price and shares in bitcoin miner MARA Holdings were up nearly 14 overnight, while MicroStrategy, a lossmaking software company that has been buying bitcoin, rose 10 to take its market... https://www.gurutrade.com/news/btc-breaks-96-000-for-1st-time-on-optimism-over-trump-crypto-plans-1732176607.html Thu, 21 Nov 2024 07:50:09 +0200 https://www.gurutrade.com/news/bitcoin-bursts-past-94-000-for-the-first-time-1732120941.html Nov 20 Reuters Bitcoin rose to a fresh record high above 94,000 as a report that Donald Trump39;s social media company was in talks to buy crypto trading firm Bakkt boosted expectations of a cryptofriendly regime under his incoming administration. Bitcoin , the world39;s biggest and bestknown cryptocurrency, has more than doubled this year. It was last at 94,291 just under a record high of 94,378. The Financial Times said Trump Media and Technology Group, which operates Truth Social, is close to an allstock acquisition of Bakkt, which is backed by NYSEowner Intercontinental Exchange. Trump39;s seeming interest to push further into crypto on a personal level has contributed to optimism that crypto will be a top priority when Trump takes office, said Stéphane Ouellette, chief executive officer of crypto trading firm FRNT Financial. Earlier this week, the Wall Street Journal reported Trump was meeting privately with the crypto exchange CEO Brian Armstrong, further aiding sentiment. Cryptocurrencies have soared since the Nov. 5 U.S. election as traders bet Presidentelect Trump39;s promised support for digital assets would lead to a less restrictive regulatory regime. Options trading over BlackRock39;s spot bitcoin ETF on the Nasdaq made a strong debut on Tuesday with a bullish calltoput ratio of 4.41, according to QCP Capital. We expect these options to be popular and, in turn, may positively influence trading volumes of these ETPs exchange traded products as the... https://www.gurutrade.com/news/bitcoin-bursts-past-94-000-for-the-first-time-1732120941.html Wed, 20 Nov 2024 03:40:41 +0200 https://www.gurutrade.com/news/crypto-market-capitalisation-hits-record-3-2tn-coingecko-1731574603.html Crypto market value tops 2021 highs Investors see Trump as bullish for crypto Bitcoin takes a breather after breaking 90,000 SINGAPORE, Nov 14 Reuters The value of the global cryptocurrency market has topped 3 trillion as the election of Donald Trump as U.S. president spurred bets that friendlier U.S. regulation could usher in a new boom for all corners of the asset class. The sum market value of cryptocurrencies touched a high of nearly 3.2 trillion early on Nov. 14 in Asia, according to analytics and data aggregator CoinGecko. That puts it above the heady days of 2021, when pandemicera stimulus pumped up speculative investments, and marks a stunning revival from just a few months ago when crypto prices and turnover had been flatlining and the outlook was humdrum. Bitcoin dominates the market and the market value milestone coincided with the token39;s rise to a record 93,480 . Generally the way this market goes is bitcoin will break out and then the rest of the altcoins will follow, said Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital. So there is that gradual rotation of capital...and then we can expect the total market cap to increase. Trump39;s election, and that of several procrypto lawmakers to Congress, has driven the wave of euphoria by apparently clearing some of the uncertainty around U.S. regulations. Bitcoin has doubled this year and is up 30 since the U.S. election on Nov. 5 to 90,000. Smaller... https://www.gurutrade.com/news/crypto-market-capitalisation-hits-record-3-2tn-coingecko-1731574603.html Thu, 14 Nov 2024 09:50:39 +0200 https://www.gurutrade.com/news/bitcoin-rises-above-90-000-on-trump-euphoria-1731572595.html Nov 13 Reuters Bitcoin broke through the 90,000 level on Wednesday, to an alltime high in a rally showing no signs of easing on expectations that Donald Trump as U.S. president will be a boon for cryptocurrencies. The world39;s biggest cryptocurrency has become one of the most eyecatching movers in the week since the election and on Wednesday touched a record of 93,480 before paring gains. It was last down slightly at 88,185, but has risen 32 since the Nov. 5 election. Smaller peer ether has also risen 37 since Election Day, while dogecoin , an alternative, volatile token promoted by billionaire Trumpally Elon Musk was up more than 150. What you39;ve seen since the election is the market hoping or realizing what that could mean for bitcoin in the medium to long term a probitcoin administration, Senate and potential legislation that not only gives U.S. citizens the right to selfcustody bitcoin but potentially for bitcoin to be a strategic reserve asset for the U.S. Treasury, said Damon Polistina, head of research at Eaglebrook. Regulatory uncertainty has been a major cloud hanging over the sector and a headwind to advisors allocating for their clients to bitcoin, he said. Trump embraced digital assets during his campaign, promising to make the United States the crypto capital of the planet and to accumulate a national stockpile of bitcoin. It is unclear how or when that could happen but the possibility drove a speculative surge in crypto mining and trading... https://www.gurutrade.com/news/bitcoin-rises-above-90-000-on-trump-euphoria-1731572595.html Thu, 14 Nov 2024 07:30:54 +0200 https://www.gurutrade.com/news/record-breaking-bitcoin-rally-nears-90-000-on-trump-boost-1731400246.html Bitcoin up more than 25 since Trump victory Congress, regulators seen crypto friendly Miners fly on speculation U.S. buys crypto stockpile SINGAPORE, Nov 12 Reuters Bitcoin stood on the verge of 90,000 on Tuesday, riding a wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto friendly. The world39;s biggest cryptocurrency has become one of the most eyecatching movers in the week since the election and touched 89,637 in Asia a gain of more than 25 since Nov. 5. It is surging along with Elon Musk39;s automaker Tesla, which is up nearly 40 since voting results rolled in as investors figure Trump39;s friends and interests will do well while he is in office. Obviously it39;s a clear Trump trade as he is so supportive of the industry, and this can only mean more demand both for crypto stocks as well as the currencies themselves, said Nick Twidale, chief market analyst at ATFX Global in Sydney. The fact that bitcoin was trading near alltime highs when the election result came through meant that it had clean sky above. Trump embraced digital assets during his campaign, promising to make the United States the crypto capital of the planet and to accumulate a national stockpile of bitcoin. It is not clear how or when that could happen but the possibility drove a speculative surge in crypto mining and trading stocks. I think it increases the chances that other nation states buy bitcoin in a bid to front... https://www.gurutrade.com/news/record-breaking-bitcoin-rally-nears-90-000-on-trump-boost-1731400246.html Tue, 12 Nov 2024 07:40:06 +0200 https://www.gurutrade.com/news/btc-breaks-81-000-as-trump-s-election-turbocharges-cryptocurrencies-1731314415.html Cryptocurrencies rally on deregulation expectations Bitcoin hits record high over 81,000 Ether, dogecoin surge SINGAPORE, Nov 11 Reuters Bitcoin soared to a record high above 81,000 on Monday on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as U.S. president and procrypto candidates to Congress. The world39;s biggest and bestknown cryptocurrency , has now more than doubled from the year39;s low of 38,505 and was last at 81,572 having earlier touched a record high of 81,899. Trump embraced digital assets during his campaign, promising to make the United States the crypto capital of the planet and to accumulate a national stockpile of bitcoin. Other socalled 39;Trump trades39; from U.S. stocks to shorting bonds have lost some steam since the election, but cryptocurrencies haven39;t paused for breath. Bitcoin39;s Trumppump is alive and well... with Republicans on the cusp of taking the house to confirm a red wave in Congress, it seems the crypto crowd are betting on digitalcurrency deregulation, said Matt Simpson, senior market analyst at City Index, referring to Republican control of both houses. While Simpson warned Trump39;s nearterm priorities are likely to lie elsewhere, crypto investors see an end to steppedup scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler whom Trump has said he will fire. The cryptocurrency industry spent more than 119 million backing... https://www.gurutrade.com/news/btc-breaks-81-000-as-trump-s-election-turbocharges-cryptocurrencies-1731314415.html Mon, 11 Nov 2024 07:40:07 +0200 https://www.gurutrade.com/news/trump-trade-and-yields-keep-dollar-supported-1729497617.html SINGAPORE, Oct 21 Reuters Cryptocurrency bitcoin hit a threemonth high in early trading on Monday and the dollar looked set to extend its gains in markets counting down to the U.S. presidential election in two weeks. Election polls that show rising odds of former President Donald Trump winning the Nov. 5 election are boosting the dollar, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high and undermine currencies of trading partners. Currency moves in major markets last week were driven by the European Central Bank39;s dovish rate cut and strong U.S. data that pushed out expectations for how fast U.S. rates can fall, particularly if Trump wins the presidency. The yen was down nearly 0.2 at 149.26 per dollar but staying on the stronger side of 150 per dollar after having breached that level briefly last week for the first time since early August. The dollar index , which measures the greenback against major rivals, was at 103.49. It fell 0.3 on Friday as risk appetite picked up broadly across markets after China announced more details of its broad stimulus package, but logged 0.55 gains for the week. The euro stood flat at 1.0862 and sterling was also flat around 1.3041. Bitcoin got a lift from Trump39;s improving prospects since his administration is seen as taking a softer line on cryptocurrency regulation. It was last up 0.2 at 68,869 , off a peak of 69,487 that took its gains since Oct. 10 to 18. With no major economic... https://www.gurutrade.com/news/trump-trade-and-yields-keep-dollar-supported-1729497617.html Mon, 21 Oct 2024 08:10:45 +0300 https://www.gurutrade.com/news/bored-bitcoin-seeks-direction-after-big-bang-1728375099.html Oct 8 Bitcoin has been distinctly listless in the past three months after starting the year with a bang. The crypto leader has largely shuttled between 56,000 and 63,000 so far in the second half of the year a contrast to the first six months when it jumped 45, propelled by the launch of U.S. exchangetraded funds ETFs tracking its spot price. Market players are now eyeing possible new crypto catalysts heading into yearend and early 2025, beyond broader marketmoving events such as shifts in U.S. interest rates and the American presidential election. Jake Ostrovskis, trader at UKbased crypto firm Wintermute, is anticipating the upcoming launch of options on BlackRock39;s spot bitcoin ETF, a new product he believes could attract more U.S. retail money after its approval by the Securities and Exchange Commission last month. Because regulators view bitcoin as a commodity, though, such options may also need the green light from the Commodity Futures Trading Commission, which oversees commodity derivatives, said Youwei Yang, chief economist at BIT Mining . If successful ... ETF options could increase bitcoin39;s market sophistication and volatility, driving greater institutional and retail engagement, Yang added. It39;s been quite a run for crypto as the anticipation and approval of U.S. ETFs helped drive bitcoin activity globally. The total size of the cryptocurrency market has ballooned to 2.2 trillion as of Oct. 1 this year, from 8.3 billion at the start of 2023,... https://www.gurutrade.com/news/bored-bitcoin-seeks-direction-after-big-bang-1728375099.html Tue, 08 Oct 2024 08:20:11 +0300 https://www.gurutrade.com/news/bitcoin-jumps-to-one-month-high-and-yen-grinds-even-lower-1727073929.html SINGAPORE, Sept 23 Reuters Bitcoin was the notable mover as it reached for onemonth highs on Monday, sustaining its rally after the Federal Reserve39;s supersized rate cut last week, while the yen extended its decline in markets thinned by a Japanese holiday. The dollar strengthened against the yen last week after policy meetings in both the United States and Japan, hitting its highest level in two weeks at 144.50 yen . It was around 144.16 on Monday. The Bank of Japan BOJ left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed39;s 50 basis points bps rate cut, put a pause to the yen39;s sharp gains this month. The currency is up 1.4 in September. With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets. Bitcoin was up 1.8 at 63,954, hovering near onemonth highs. Ether was 3 higher at 2,660.30, near its highest since late August. Chris Weston, head of research at Pepperstone, said the 39;goldilocks macro backdrop39; is the key factor driving the solid upside momentum. For now, this is a rally that is there for chasing. As we39;ve seen over the years, when Bitcoin goes on a run, the trends can be powerful and FOMO can really get the crypto players fired up The Australian dollar was 0.4 higher at 0.68355 , digesting its rise of more... https://www.gurutrade.com/news/bitcoin-jumps-to-one-month-high-and-yen-grinds-even-lower-1727073929.html Mon, 23 Sep 2024 08:50:10 +0300 https://www.gurutrade.com/news/us-listed-crypto-stocks-jump-after-bumper-rate-cut-from-fed-1726771086.html Sept 19 Reuters U.S.listed crypto shares jumped on Thursday after a halfpercentage point interest rate cut boosted risk appetite, adding to the momentum of an industry that has already secured some big wins this year. The move could revive interest in bitcoin , the most popular cryptocurrency, which often sways the entire sector as investors chase higher returns and dump safehavens. The currency gained 4.6 and last traded at 62,991 on Thursday. There39;s over 6 trillion in money market funds, soon yielding 50 bps less, said Matt Mena, crypto research strategist at 21Shares. This move could signal a return of liquidity, sparking a riskon sentiment and fueling a sharp rally. MicroStrategy, one of bitcoin39;s biggest corporate backers, gained nearly 10. Crypto exchange Coinbase Global jumped 6.4. Digital asset miners Riot Platforms, Marathon Digital and CleanSpark rose 1.6, 4 and 5.3, respectively. The cut is aggressive, but more important than its impact is what it signals. This could mean the end of hawkish monetary policy for some time, said Henry Robinson, cofounder of crypto mining firm Decimal Digital Currency. Exchangetraded funds tracking the price of bitcoin and peer ether received landmark regulatory approvals earlier this year, boosting investor sentiment. However, that turned choppy in recent weeks amid shifting odds in the upcoming U.S. presidential election. Republican candidate Donald Trump has positioned himself as a probitcoin candidate and... https://www.gurutrade.com/news/us-listed-crypto-stocks-jump-after-bumper-rate-cut-from-fed-1726771086.html Thu, 19 Sep 2024 06:50:06 +0300 https://www.gurutrade.com/news/crypto-stocks-fall-as-bets-on-harris-win-rise-after-debate-swift-support-1726066839.html Sept 11 Reuters U.S. cryptocurrency shares fell in early trading on Wednesday after Democratic candidate Kamala Harris put her Republican rival and crypto supporter Donald Trump on the defensive in a combative presidential debate. The former president had positioned himself as a probitcoin candidate whose return could mark a win for the industry that has accused the current administration of regulatory overreach. After the debate, pop megastar Taylor Swift said she will vote for the Democratic candidate to her 280 million followers in a post on Instagram. Following the performance of Harris in the debate and perhaps Taylor Swift39;s endorsement, there is a slightly lower chance of a cryptosupporting Trump in the White House, said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Bets on a win for Harris improved to 56 from 53 before the debate, while Trump39;s chances slipped to 48 from 52, according to online betting site PredictIt. Bitcoin , the world39;s largest cryptocurrency, pared losses and was last down 2, while ether fell 2.6. Trump had in July courted the crypto industry in a conference in search of donations and votes with a promise of friendlier regulation. Never sell your bitcoin, Trump said at the time, adding that if elected the U.S. government will hold bitcoin as a store of value. Meanwhile, Harris has yet to detail a policy position on crypto. In the runup to the debate, many market participants and analysts viewed bitcoin... https://www.gurutrade.com/news/crypto-stocks-fall-as-bets-on-harris-win-rise-after-debate-swift-support-1726066839.html Wed, 11 Sep 2024 04:50:02 +0300 https://www.gurutrade.com/news/bitcoin-etfs-take-50-billion-baby-steps-toward-big-time-1725357292.html Sept 3 Reuters Last October, Matthew Hougan told an industry panel that he expected spot bitcoin exchangetraded funds ETFs to attract 55 billion of assets in their first five years. As of late August this year, about eight months after their debut, the 10 new funds approved by U.S. regulators collectively boasted more than 52 billion, according to data from TrackInsight. Clearly, I wasn39;t being bullish enough, Hougan, CEO of crypto firm Bitwise Investments, reflected wryly. This is going to be an area that we measure in hundreds of billions of dollars. That remains to be seen. These products track the price of bitcoin, which has whipsawed repeatedly since its birth 16 years ago kicked off the crypto era. Some market players say bitcoin is inherently speculative, more akin to art or fine wine than gold and commodities, driving volatility and risk. The path to wide acceptance as a mainstream asset may be slow and twisting. One milestone came in August. That39;s when Morgan Stanley decided to allow its 15,000strong network of financial advisers to actively recommend at least two of the new bitcoin ETFs the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund  to clients. It is now unacceptable not to do due diligence and the work of understanding these products, said John Hoffman, head of distribution and partnerships at Grayscale Funds, whose firm39;s Grayscale Bitcoin Trust wasn39;t part of the first wave of products added to Morgan Stanley39;s... https://www.gurutrade.com/news/bitcoin-etfs-take-50-billion-baby-steps-toward-big-time-1725357292.html Tue, 03 Sep 2024 08:20:22 +0300