Bitcoin
rises above $69K but still within range despite rate cut hopes By Investing.com
Investing.com – The price of Bitcoin rose on Monday but remained largely range-bound despite optimism about possible interest rate cuts by major central banks this week and weakness in the dollar.
rose 1.5% in the last 24 hours to $69,253.8 at 08:18 ET (12:18 GMT). But the world’s largest cryptocurrency has remained within the $60,000 to $70,000 trading range established since mid-March.
Bukele’s re-election brings little price action amid few references to Bitcoin
Bitcoin saw little price action even as El Salvador President Nayib Bukele – who adopted the cryptocurrency as legal tender in 2021 – was re-elected to a second term over the weekend.
Bukele was considered an important figure in the crypto space because of the legalization of the token and also regularly used the country’s treasury to purchase the token on the open market.
But Bukele made little mention of Bitcoin during his inauguration. The president of El Salvador also appears to have removed all mentions of Bitcoin and cryptocurrencies from his social media profile on X (formerly Twitter).
Bukele promised remedies to fix the ailing Salvadoran economy during his inauguration, after government debt levels soared during his first term. The country’s adoption of Bitcoin has done little to stimulate the economy.
Bukele’s highly publicized plans for a “Bitcoin City” also failed as they attracted little interest from private investors. El Salvador returned to traditional debt markets earlier this year with a $1 billion bond sale.
Still, the value of El Salvador’s Bitcoin holdings has risen substantially, after the token enjoyed a stellar recovery in 2023 and early 2024.
Crypto Price Today: Unenthusiastic Despite Rate Cut Expectations
Broader cryptocurrency prices moved little on Monday, receiving little support from a broader rally in risk-oriented markets amid increased focus on interest rate cuts.
The world’s number 2 token rose 0.15% to $3,811.02, while adding 0.5% and falling 0.4%
Among meme coins, it lost 0.2% while rising 1.6%.
Stock markets rose on Monday in anticipation of interest rate cuts later this week.
by the Federal Reserve in September, it also rose after Friday’s data showed some cooling in inflation. The central bank is expected to keep rates stable at .
First Australian spot Bitcoin ETF to launch on Tuesday
Australia-based Monochrome Asset Management announced that its Monochrome Bitcoin exchange-traded fund (ETF), under the ticker IBTC, will begin trading on the Cboe Australia exchange on Tuesday, Coindsk reported today.
This ETF is the first and only in Australia to directly hold bitcoin.
While Australia has two other exchange-traded products on Cboe Australia that offer exposure to spot crypto assets, neither holds the cryptocurrency directly.
“Prior to IBTC, Australian investors could only invest in ETFs that held bitcoin indirectly or through offshore bitcoin products, both of which do not benefit from investor protection rules under the Australian Directly Held Crypto Asset Licensing Regime Financial Services Licensing (AFSL). ,” the company said.
To launch such a product in Australia, companies need approval from the Australian Securities & Investments Commission (ASIC) and the exchange where the product will be listed, in this case, Cboe Australia. Monochrome has already obtained ASIC approval for this ETF.
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market
Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
Getty Images
The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious
Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
Please note that our Privacy Policy, terms of use, cookiesIt is do not sell my personal information Has been updated.
CoinDesk is a awarded media outlet that covers the cryptocurrency industry. Its journalists follow a strict set of editorial policies. In November 2023, CoinDesk has been acquired by the Bullish group, owner of Optimistica regulated digital asset exchange. The Bullish Group is majority owned by Block.one; both companies have interests CoinDesk has a portfolio of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
“You Only Need 0.02 BTC to Retire Forever – Here’s Why” – Willy Woo
Inside the Banana Zone: The Cryptocurrency Trend Everyone’s Talking About – Raoul Pal
DIGITAL BLOCK! You Live in a Virtual Prison Without Knowing It: The 2025 WARNING by Whitney Webb
“Many Bitcoin Investors Will Be Multimillionaires Before 2030” – Michael Saylor
Raoul Pal – “This is a huge achievement! This is where I see Bitcoin and cryptocurrencies by 2030”
Bitcoin soars above $63,000 as money flows into new US investment products
Ethena downplays danger of letting traders use USDe to back risky bets – DL News
FRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
Zodialtd.com to revolutionize derivatives trading with WEB3 technology
Bitcoin Fails to Recover from Dovish FOMC Meeting: Why?
“You Only Need 0.02 BTC to Retire Forever – Here’s Why” – Willy Woo
Inside the Banana Zone: The Cryptocurrency Trend Everyone’s Talking About – Raoul Pal
DIGITAL BLOCK! You Live in a Virtual Prison Without Knowing It: The 2025 WARNING by Whitney Webb
“Many Bitcoin Investors Will Be Multimillionaires Before 2030” – Michael Saylor
Raoul Pal – “This is a huge achievement! This is where I see Bitcoin and cryptocurrencies by 2030”
-
News6 months agoBitcoin soars above $63,000 as money flows into new US investment products
-
DeFi6 months agoEthena downplays danger of letting traders use USDe to back risky bets – DL News
-
News6 months agoFRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
-
DeFi6 months agoZodialtd.com to revolutionize derivatives trading with WEB3 technology
-
Markets6 months agoBitcoin Fails to Recover from Dovish FOMC Meeting: Why?
-
DeFi8 months ago👀 Lido prepares its response to the recovery boom
-
DeFi8 months agoPancakeSwap integrates Zyfi for transparent, gas-free DeFi
-
Videos8 months agoBlackRock and Wall Street ready to take Bitcoin directly to $200,000 – Anthony Scaramucci
-
Videos8 months agoThis is the exact and unique time to sell your crypto asset – Raoul Pal
-
DeFi8 months ago
🏴☠️ Pump.Fun operated by Insider Exploit
-
Videos8 months ago“BlackRock HAS UNLEASHED a massive multi-trillion monster” – Lyn Alden and Eric Balchunas
-
Videos8 months agoONLY 2 WEEKS LEFT! Cryptocurrency Prices Are About to Go Crazy – Raoul Pal