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Trump’s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration. 

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Trump&rsquo;s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration.

Bitcoin surged to a record high on Monday, crossing the $106,000 mark for the first time, driven by optimism surrounding President-elect Donald Trump&rsquo;s pro-cryptocurrency stance. The digital asset climbed more than 3% in early Asian trading, reaching an unprecedented $106,493, surpassing its previous peak on December 5. The rally has extended Bitcoin&rsquo;s winning streak, marking its longest run since 2021.
Trump&rsquo;s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration. He has also supported the creation of a strategic Bitcoin reserve fund, a move that has generated both excitement and scepticism.
Aya Kantorovich, co-founder of institutional crypto platform August, noted that many are banking on a friendlier regulatory landscape under Trump&rsquo;s leadership, which has fueled increased demand for Bitcoin-related exchange-traded funds (ETFs).
The positive sentiment surrounding Bitcoin has also extended to other cryptocurrencies, including Ether, XRP, and Dogecoin, which have all posted gains.
On Friday, Nasdaq Global Indexes announced that MicroStrategy, a major Bitcoin investor, will be added to the Nasdaq 100 Index, underscoring the growing mainstream acceptance of digital assets. MicroStrategy has raised capital to invest billions into Bitcoin, becoming a key player in the crypto market.
Despite the recent gains, analysts are cautioning that a pullback may be on the horizon. IG Australia&rsquo;s Tony Sycamore pointed out that the pace of Bitcoin&rsquo;s gains has slowed recently, suggesting a potential correction could be coming. As of Monday morning, Bitcoin was trading at $106,215 in Singapore.
The ongoing surge in Bitcoin prices reflects the market's optimism about Trump&rsquo;s impact on the crypto space, with many analysts predicting that $110,000 could be the next milestone for the leading cryptocurrency.

Bitcoin skyrocketed to $81,500 following Donald Trump's re-election, marking a 6% surge driven by his pro-crypto stance. Trump plans to launch his own crypto platform, World Liberty Financial, as other cryptos like Dogecoin follow Bitcoin’s trend.

$90,000 Loading? Bitcoin Breaks Records After Trump Win, Hits $81,500 Today

Bitcoin skyrocketed to $81,500 following Donald Trump's re-election, marking a 6% surge driven by his pro-crypto stance. Trump plans to launch his own crypto platform, World Liberty Financial, as other cryptos like Dogecoin follow Bitcoin&rsquo;s upward trend.

Bitcoin just smashed $81,500 as Donald Trump clinched the White House!
But why this surge? The key trigger is the fact that Trump, a former crypto critic, is now digital currency's biggest champion.
And his return to the White House has fuelled a crypto rally! From Bitcoin to
Elon Musk backed Dogecoin, prices are soaring as Trump's pro-crypto position has triggered a market-wide surge.
In fact, just a few week ago Trump's family has even launched its own crypto venture - "World Liberty Financial."
Now adding fuel to this crypto explosion? The expectations of further rate cuts from the US Federal Reserve.
With all factors aligned favourably, some experts expect Bitcoin to soar to 90,000 dollars soon.
What do you think of the crypto rally? Tell us in the comments. And subscribe for the latest on Bitcoin and other cryptocurrencies.

Cryptos have always kept us on our toes—from wild price swings to high-profile collapses like the FTX debacle

Bitcoin Hits $75K! Donald Trump’s Victory Ignites Crypto Rally

Cryptos have always kept us on our toes&mdash;from wild price swings to high-profile collapses like the FTX debacle

Hold onto your digital wallets! Because Bitcoin just smashed a new record, soaring past 75,000 dollars, as traders rally around a Trump victory in the U.S. election.
With Trump now seen as a pro-crypto president, could we be heading for a new era in digital currency?
Funny enough, Trump once called crypto a scam during his presidency!
<h3>So what changed?</h3>
Well, he&rsquo;s done a 180 and even launched his own crypto platform, turning heads across the industry.
Cryptos have always kept us on our toes&mdash;from wild price swings to high-profile collapses like the FTX debacle.
But could this new Trump-fueled momentum be the spark that pushes Bitcoin even higher? .
Also Watch: <a href="https://www.editorji.com/business-news/nvidia-overtakes-apple-as-the-world-s-most-valuable-company-new-king-of-wall-street-1730895194811">Nvidia Overtakes Apple As The World's Most Valuable Company: New King of Wall Street!</a>

Bitcoin soars to $71K as U.S. presidential candidates Donald Trump and Kamala Harris warm to crypto. This election’s pro-crypto stance could drive regulatory changes, making it a defining moment for Bitcoin’s future. Subscribe for more!

Bitcoin Inches Closer To $71,000: How The 2024 US Race Is Fueling The Cryptocurrency

Bitcoin soars to $71K as U.S. presidential candidates Donald Trump and Kamala Harris warm to crypto. This election&rsquo;s pro-crypto stance could drive regulatory changes, making it a defining moment for Bitcoin&rsquo;s future. Subscribe for more!

Bitcoin prices are soaring! The world&rsquo;s largest cryptocurrency is now trading closer to $71,000, a level last seen in June 2024.
So, what&rsquo;s fueling this surge? A big factor driving the crypto rally is the U.S. presidential election.
Republican candidate Donald Trump is positioning himself as pro-crypto.
Even Kamala Harris has signaled a notable shift from the Democratic Party anti-crypto stance.
This shift is being closely watched by crypto regulation advocates, adding to the positive sentiment in the market.
We&rsquo;ve covered this Bitcoin surge in greater detail in a recent video, which you can find on our channel, BusinessHook. Just search the channel&rsquo;s name as one word!
What&rsquo;s your take on investing in cryptocurrencies and the recent Bitcoin surge?.
Also Watch: <a href="https://www.editorji.com/business-news/smart-holiday-travel-hacks-for-young-professionals-save-money-on-your-next-trip-1730186720435">Smart Holiday Travel Hacks for Young Professionals | Save Money on Your Next Trip!</a>

Bitcoin surged from $62,800 to $68,000 in just five days and is nearing the $70,000 mark! Factors driving this include Kamala Harris' crypto support, global liquidity, and MicroStrategy's Bitcoin bank plans. Will it hit $70K?

Bitcoin At $80,000 By 2024-End? Kamala Harris & Donald Trump Drive The Rally

Bitcoin surged from $62,800 to $68,000 in just five days and is nearing the $70,000 mark! Factors driving this include Kamala Harris' crypto support, global liquidity, and MicroStrategy's Bitcoin bank plans. Will it hit $70K?

Bitcoin prices to surge past $70,000 in the next few weeks! Say the news headlines, quoting experts who track the world&rsquo;s largest cryptocurrency.
&nbsp;In fact, if you look at the movement of Bitcoin, in just five sessions in the run-up to October 18, the cryptocurrency surged from $62,800 to almost $68,000 &ndash; clocking an 8% rise. With this kind of momentum, the $70,000 mark doesn&rsquo;t seem too difficult to achieve.
But what&rsquo;s fuelling this surge in Bitcoin prices? Stay with us as we dive into those factors.
The first factor that has the Bitcoin bulls excited is a pledge from Democratic presidential candidate Kamala Harris, who is currently the Vice President of the United States. Harris has pledged to support a regulatory framework for cryptocurrencies. The Democratic Party has not been seen as pro-crypto in the past, and therefore this change in stance has energised the crypto markets.
While Harris has shifted gears on the crypto front, her Republican rival Donald Trump has already had a favourable stance towards the crypto industry. In fact, Trump has positioned himself as a champion of ending the crackdown on cryptocurrencies.
Now, with both US presidential candidates singing a favourable tune, the cryptocurrency industry expects a smoother regulatory path in the times to come.
The second factor helping Bitcoin soar is the surge in liquidity across the world.
&nbsp;The United States Federal Reserve has recently cut its key interest rate, and so has the European Central Bank.
In the last few weeks, the world&rsquo;s second-largest economy, China, has also announced a series of measures to boost its economy.
All these measures are resulting in a world flush with liquidity. Now, a significant part of these funds is likely to chase high-return assets such as cryptocurrencies.
The third factor adding to the Bitcoin cheer is business intelligence firm MicroStrategy&rsquo;s plan to become a bitcoin bank.
The company&rsquo;s executive chairman, Michael Saylor, recently told analysts at Bernstein that he sees MicroStrategy in the core business of creating Bitcoin capital market instruments. Saylor sees Bitcoin as a powerful hedge against inflation, and he believes that over time, the cryptocurrency will become essential for both institutional and retail portfolios.
With all these tailwinds, Bitcoin has already seen a stellar run in the past few sessions.
Some technical analysts expect the world&rsquo;s biggest cryptocurrency to now surge to up to $80,000 by the end of 2024.
What&rsquo;s your take on cryptocurrencies? Do you find Bitcoin an attractive investment opportunity? Or do you stay away from it? Let us know in the comments. And don&rsquo;t forget to subscribe to Business Hook for more in-depth coverage like this.

Bitcoin may witness a &lsquo;short squeeze&rsquo; soon triggering a price surge, says digital assets brokerage K33. It&rsquo;s analysis is based on 'seven day average funding rate' hitting its lowest in almost 18 months

Bitcoin Prices May Go Up Soon: Research Shows The Cryptocurrency Is Heading To A ‘Short Squeeze’

Bitcoin may witness a &lsquo;short squeeze&rsquo; soon triggering a price surge, says digital assets brokerage K33. It&rsquo;s analysis is based on 'seven day average funding rate' hitting its lowest in almost 18 months

Bitcoin, the largest cryptocurrency with a market capitalisation of over $1 trillion, has been trading weak for some time now. However, those betting on prolonged weakness of the cryptocurrency could be in for a nasty surprise. Bitcoin Surge Coming Soon? According to K33, a research-led digital assets brokerage, Bitcoin may be poised for a sharp uptick soon. The brokerage says that multiple metrics are pointing towards bearish trades on Bitcoin becoming crowded. Therefore, it expects a 'short squeeze' in the coming days or weeks. What's A Short Squeeze? A 'short squeeze' is basically a situation in which traders, who bet that the price of an asset will decrease by shorting it, are forced to buy the same asset quickly as the prices of the asset start increasing. Why Does K33 Expect A Short Squeeze So why does K33 think Bitcoin's price might increase soon, leading to a 'short squeeze'? Of all the factors, the primary reason that the brokerage firm is looking at is something called the "funding rate," which shows how traders are betting on the cryptocurrency's future price.Right now, this funding rate is the lowest it's been in about a year and a half. This means that a lot of traders are betting that Bitcoin's price will go down. However, Vetle Lunde, the author of the K33 report, notes that when many people start betting aggressively, it often leads to those bets running out of steam.This, he believes, 'makes the situation ripe' for a short squeeze. Because, once the bearish bets on Bitcoin lose steam and its price starts rising unexpectedly, it will force many of those betting on a price drop to quickly buy Bitcoin to cut their losses. This sudden buying can push the price up even more. Current Bitcoin Price At the time of writing this article, Bitcoin was trading at $59,695.40, up almost a per cent. Though on a year-on-year basis it's up 128.6%, the prices are way below the March 2024 levels, when Bitcoin had surged past the $70,000 mark.

Despite the dip, the leading cryptocurrency remains above 57,000 dollars, reflecting a cautiously optimistic market sentiment

Bitcoin price steadies after weekend drop, eyes on U.S. interest rates

Despite the dip, the leading cryptocurrency remains above 57,000 dollars, reflecting a cautiously optimistic market sentiment

Bitcoin prices stabilized on Monday after a sharp decline over the weekend, pulling back from recent highs as investors focus on upcoming U.S. interest rate signals.
The world's largest cryptocurrency had reached as high as 72,000 dollars last week, nearing record highs from March. However, a rebound in the dollar prompted significant profit-taking and market weakness from Friday. Also read/watch - <a title="Inflows into equity mutual funds double, SIP contribution hits record high in May" href="https://www.editorji.com/business-news/personal-finance/inflows-into-equity-mutual-funds-double-sip-contribution-hits-record-high-in-may-1718017405359">Inflows into equity mutual funds double, SIP contribution hits record high in May</a>
Despite the dip, the leading cryptocurrency remains above 57,000 dollars, reflecting a cautiously optimistic market sentiment.
The broader cryptocurrency market also experienced steep losses over the weekend, driven by concerns over high interest rates and profit-taking after gains in May.
Ether, the second-largest cryptocurrency, steadied at 3,680.01 dollars on Monday after losing nearly 4% on Friday.

Some analysts are attributing Bitcoin's rebound to the upcoming halving of the cryptocurrency's supply

Bitcoin rebounds and reclaims $70,000 ahead of 'halving'

<h2>Some analysts are attributing Bitcoin's rebound to the upcoming halving of the cryptocurrency's supply</h2>

Rebounding from recent lows, Bitcoin has reclaimed the $70,000 mark. According to CoinGecko, Bitcoin is currently trading at $70,561, showing a 9% increase in the last 24 hours and a 5.5% rise over the past week.
This marks the first time Bitcoin has reached this level since March 14, amidst fluctuations attributed to ETF outflows, cryptocurrency exchange crashes, and concerns about inflation. Some analysts are attributing Bitcoin's rebound to the upcoming halving of the cryptocurrency's supply.&nbsp;
The upcoming halving of supply Another factor that is likely influencing the recent surge is the next Bitcoin halving, expected in April 2024. The Bitcoin having will cut the mining reward in half, potentially impacting supply and spiking the price due to supple demand disparity. Bicoin demand soars, suply to dip Each week 6,300 new bitcoins are mined but the demand from the ETFs has been overwhelming as new supply can't keep up, leading to higher prices.After the halving that is going to take place around May, only 3,150 new bitcoins will be minted each week, with demand dwindling and supply increasing the price is expected to surgery even more.&nbsp;

Bitcoin's surge to record highs is driven by robust demand for spot bitcoin ETFs, approved by the SEC. These ETFs track the current price of bitcoin, offering investors an accessible avenue to participate in cryptocurrency markets without direct owne

Bitcoin hits a new high above $73,000: Here's what is driving this dizzying surge

Bitcoin's surge to record highs is driven by robust demand for spot bitcoin ETFs, approved by the SEC. These ETFs track the current price of bitcoin, offering investors an accessible avenue to participate in cryptocurrency markets without direct ownership

Bitcoin's surge to record highs is driven by robust demand for spot bitcoin ETFs, approved by the SEC. These ETFs track the current price of bitcoin, offering investors an accessible avenue to participate in cryptocurrency markets without direct ownership

Bitcoin has surged to a record high, surpassing the $73,000 mark. The cryptocurrency crossed the milestone on Wednesday, gaining over 2% in trade.
Boost from exchange traded funds
This dizzying rally in Bitcoin prices is mainly being attributed to the introduction of spot Bitcoin Exchange Traded Funds in the United States. These ETFs, which were approved by the US market regulator, US Securities and Exchange Commission (US SEC), were launched in January 2024.
What are spot Bitcoin ETFs? ETFs, or exchange-traded funds, are investment tools that follow the performance of a group of assets or commodities. A spot Bitcoin ETF is specifically designed to track the current price of Bitcoin. This means that when the price of Bitcoin changes, the value of the ETF reflects those changes, allowing investors to easily invest in Bitcoin without directly owning it. The upcoming halving of supply Another factor that is likely influencing the recent surge is the next Bitcoin halving, expected in April 2024. The Bitcoin having will cut the mining reward in half, potentially impacting supply and spiking the price due to supple demand disparity.
Bicoin demand soars, suply to dip&nbsp;
Each week 6,300 new bitcoins are mined but the demand from the ETFs has been overwhelming as new supply can't keep up, leading to higher prices.
After the halving that is going to take place around May, only 3,150 new bitcoins will be minted each week, with demand dwindling and supply increasing the price is expected to surgery even more&nbsp; Expert take on whether it's a good time to buy
As per a Bloomberg report, Peter Mladina, the executive director of portfolio research for Northern Trust Wealth Management, believes that Bitcoin doesn&rsquo;t fully meet the criteria that make something a currency, and its volatility makes it a poor store of value. He doesn&rsquo;t recommend devoting a large amount of a portfolio to Bitcoin, but added that &ldquo;maybe for some people there could be a small allocation."&nbsp; Also Watch: <a href="https://www.editorji.com/business-news/markets/bitcoin-surges-past-72-000-for-the-first-time-find-out-what-s-fuelling-the-cryptocurrency-s-rally-1710220728704">Bitcoin surges past $72,000 for the first time; Find out what's fuelling the cryptocurrency's rally</a>

The cryptocurrency has seen a staggering 70% gain since the start of the year, with institutional interest further evidenced by MicroStrategy's substantial $822 million investment in Bitcoin.

Bitcoin surges past $72,000 for the first time; Find out what's fuelling the cryptocurrency's rally

The cryptocurrency has seen a staggering 70% gain since the start of the year, with institutional interest further evidenced by MicroStrategy's substantial $822 million investment in Bitcoin.

Bitcoin has surged past the $72,000 mark for the first time, extending its rally for the sixth consecutive day. This also marks a nearly 70% gain since the beginning of the year, driven by significant inflows into US exchange-traded funds.
Equities mixed, cryptos fly The leading cryptocurrency climbed as much as 5% to hit $72,880 on Monday before retracing some of its gains. Other smaller tokens like Ether, Solana, and Avalanche also saw gains. This upward momentum in the crypto market persisted despite mixed performances in equities, with investors eagerly awaiting a crucial report on US inflation.
Vetle Lunde, a senior analyst at K33 Research, remarked, "It&rsquo;s a full-on continuation of last week&rsquo;s trend. Traders are clearly in a risk-on mode."
The ETF-boost for Bitcoin Investor interest has surged, with nearly $10 billion flowing into a series of new Bitcoin ETFs launched in the US over the past two months, fueling a broad rally across crypto markets. In a further boost to digital assets, the London Stock Exchange announced its acceptance of applications for admitting Bitcoin and Ether exchange-traded notes, while Thailand's securities regulator greenlit the purchase of overseas crypto ETFs by retail investors.
Time to bet on cryptocurrencies?
Chris Newhouse, a DeFi analyst at Cumberland Labs, noted, "With new highs being made and signs of continuing institutional support shown by the LSE news, some people might&rsquo;ve seen that breakout as a perfect opportunity to get even longer BTC." Crypto-assets: The bullish signals
The success of Bitcoin ETFs adds to the bullish signals for cryptoassets, including the upcoming quadrennial "halving" in April, which will halve Bitcoin's supply growth. Additionally, technical indicators point to growing interest from institutional and retail investors. Open interest on Chicago-based CME Group&rsquo;s Bitcoin futures market has surged 44% from this year&rsquo;s low, indicating a rising appetite for leveraged long positions in Bitcoin.
MicroStrategy Inc., known for incorporating Bitcoin into its corporate strategy, revealed it spent $822 million on additional tokens from February 26 through March 10, underscoring continued institutional interest in the digital asset.

The unit hit a peak of $71,432 in afternoon Asian business, according to Bloomberg data, meaning it has advanced almost 70 percent this year

Bitcoin hits fresh record above $71,000

<h2>The unit hit a peak of $71,432 in afternoon Asian business, according to Bloomberg data, meaning it has advanced almost 70 percent this year</h2>

Bitcoin hit a fresh record above $71,000 on Monday as demand for the cryptocurrency picks up amid optimism that the Federal Reserve will cut interest rates this year.
The unit hit a peak of $71,432 in afternoon Asian business, according to Bloomberg data, meaning it has advanced almost 70 percent this year.
The rally was helped by news that Britain's Financial Conduct Authority had said it would allow the creation of crypto-related securities.
That comes after US authorities gave the green light this year to exchange-traded funds pegged to bitcoin's spot price, persuading some mainstream investors to take the plunge by adding the unit to their portfolio.

Bitcoin's record high at $69,000 followed by 10% plunge

<h2>According to cryptocurrency market data platform CoinMarketCap, Bitcoin's value has surged by more than 50% over the past month</h2>

The price of Bitcoin, the world's largest cryptocurrency, briefly reached a new all-time high of over $69,000.
Bitcoin plunged more than 10% from its new all-time high on Tuesday as heavy selling on crypto exchanges capped the price surge beyond $69,000, sending the price below $60,000 at one point.
The recent surge in price has been attributed to significant investments from US finance giants into Bitcoin. This surpassed the previous record set in November 2021, although Bitcoin's value had dropped to $16,500 by 2022.
According to cryptocurrency market data platform CoinMarketCap, Bitcoin's value has surged by more than 50% over the past month.
- All eyes on Powell - &nbsp; Traders will be paying close to attention to testimony by Federal Reserve chair Jerome Powell in Congress, looking for signs of when the US central bank might start cutting rates.
Most analysts expect highly-anticipated Fed rate cuts to start later this year, as officials have voiced caution about trimming too soon while they await further inflation data.

Driven by increasing interest around its exchange-traded funds (ETFs) and the upcoming halving event which is scheduled to happen in April, Bitcoin has gained nearly 20% in the last week

ETF interest rate hike and upcoming halving drive Bitcoin rally

<h2>Driven by increasing interest around its exchange-traded funds (ETFs) and the upcoming halving event which is scheduled to happen in April, Bitcoin has gained nearly 20% in the last week</h2>

The largest cryptocurrency by market cap, Bitcoin has gained nearly 20% in the last week driven by increasing interest around its exchange-traded funds (ETFs) and the upcoming halving event. So far in 2024, the cryptocurrency has surged around 40%.
"The positive effects of the ETF launch, institutional investment, which saw a rise in 2023, and the upcoming halving, which is set to affect the demand-supply ratio in favour of Bitcoin's price, have all started adding to the market momentum,"Rajagopal Menon, vice president at WazirX told Business Standard.
On Wednesday, Bitcoin jumped as much as 13% to $63,968 before it cooled down to just over $61,000.&nbsp;
<h3>Surge in Bitcoin</h3>
Chief Executive officer at Mudrex Edul Patel told the publication that the surge in bitcoin is attributed to the ten spot Bitcoin ETFs in the US registering a new daily record by surpassing the $7.7 billion trading volume.
"This surge is attributed to the ten spot Bitcoin ETFs in the US registering a new daily record by surpassing the $7.7 billion trading volume as retail investors jump on crypto rally," Edul Patel, chief executive officer at Mudrex told Business Standard.
The surge in bitcoin traffic was so much on Wednesday that it triggered trading outages and displays of $0 balances for users of Coinbase, the largest US digital asset exchange. Coinbase later announced that the issue had been resolved.
"Very few customers may still see an inaccurate balance on their account. Our team is working on resolving this display issue for these users," it said in a post on social media platform X.
Speculations on Bitcoin halving has also lead to surge in the prices of the cryptocurrency. Halving is the process by which the number of bitcoins available for trading would be reduced leading to a surge in price. Halving is scheduled to take place in April.
Business Standard quoting some experts mentioned that the optimism may even lead to Bitcoin breaching its all-time high of around $69,000 before halving.
"It may be possible to see a new all-time high in Bitcoin before halving this year," Shivam Thakral, CEO at BuyUcoin told Business Standard.
As per CoinMarketCap the token currently dominates the crypto market with a 53% share in the total value.&nbsp;

Bitcoin is up 200 percent from its previous bottom in November 2022

Bitcoin Hits 9%, Two-Year High, Marking a Significant Milestone

Bitcoin skyrockets to $57,000, hits two-year high

<h2>Bitcoin is up 200% from its previous bottom in November 2022</h2>

Bitcoin surged to a two-year high, hitting $57,000 on Tuesday, marking a 9 percent increase before settling around $56,500.&nbsp;
The rise is being driven by increasing optimism about sustained investor demand through exchange-traded funds (ETFs) as per a Bloomberg report. Bitcoin is up 200 percent from its previous bottom in November 2022. The last time Bitcoin traded at this level was in December 2021 when it achieved an all-time high of almost $69,000 the preceding month. Another crypto Ether also crossed $3,200 for the first time in two years.
In a groundbreaking development for the cryptocurrency sector, the US Securities and Exchange Commission (SEC) granted approval to a Bitcoin ETF in January. This decision marks a significant milestone after years of efforts within the industry to launch such a product. The SEC approved a total of 11 spot bitcoin ETFs, including notable ones like BlackRock&rsquo;s iShares Bitcoin Trust, Grayscale Bitcoin Trust, and ARK 21Shares Bitcoin ETF.
Currently, bitcoins have no legal backing in India and investors have to pay a 30 per cent tax on the income earned by trading in them.
Also Read:<a href="https://www.editorji.com/business-news/travel-platform-expedia-to-cut-1-500-jobs-globally-amid-moderating-travel-demand-1709010076535"> Travel platform Expedia to cut 1,500 jobs globally amid moderating travel demand</a>

Driven by the expectations on FED to cut interest rate and investors growing optimism on rise in demand due to the US approval of broader trading in the unit, Bitcoin has hit the $50,000 mark for the first time since 2021

Bitcoin breaches $50K level for first time in over 2 years

<h2>Driven by the expectations on FED to cut interest rate and investors growing optimism on rise in demand due to the US approval of broader trading in the unit, Bitcoin has hit the $50,000 mark for the first time since 2021</h2>

Bitcoin breached $50,000 mark for the first time on Monday since 2021. This as investors grow optimistic that US approval of broader trading in the unit will ramp up demand and expectations of interest rate cuts by the Fed later this year.
<h3>Bitcoin Rallies</h3>
Fuelled by expectations that the US lawmakers would allow the creation of exchange-traded funds that track the price and let the public invest in crypto without directly purchasing it, the cryptocurrency has enjoyed a strong run in recent months.
After initially dropping in reaction to last month's green light by Washington, bitcoin has rallied about 25% since January 22. That advance saw it hit as much as $50,328, according to Bloomberg data, its highest level since late 2021.
Also Read: <a href="https://www.editorji.com/business-news/cryptocurrency/bitcoin-surges-to-35-000-reaching-a-1-5-year-high-on-the-back-of-etf-expectation-1698137866248">Bitcoin surges to $35,000, reaching a 1.5-year high on the back of ETF expectation</a>
And observers were optimistic about the outlook.
"Enthusiast buyers bring in more enthusiast buyers pushing prices further up," Fadi Aboualfa, of Copper Technologies, told AFP. "The cryptocurrency has momentum on the back of several green weeks and has a large chance of going up further when markets see weekly movements upwards of 10% (as we saw last week)", he added
By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.
The currency remains well below its record value of almost $69,000 in 2020, but the rally marks a recovery following a series of high-profile scandals and collapses that rocked the crypto industry.
<h3>Crisis in Crypto world</h3>
FTX, the world's second-biggest crypto exchange, dramatically went under last year, and its boss Sam Bankman-Fried faces up to 110 years in prison for what prosecutors described as "one of the biggest financial frauds in American history".
And in November, Changpeng "CZ" Zhao stepped down as CEO of Binance -- the world's biggest crypto exchange -- after he and the company pleaded guilty to sweeping money laundering violations.
The asset's value has been driven by the supply crunch expected next year because of an event called "halving". Bitcoin is created -- or "mined" -- as a reward when powerful computers solve complex problems. But the amount of bitcoin is limited and every four years, the reward is halved. The next "halving" is due in May.
&nbsp;

Even as Bitcoin is below its 2021 record highs of $60,000, the cryptocurrency has hit $40,210 going past $40,000 for the first time in 2023 amid expectations of interest rate cut by US Federal Reserve Bank

Bitcoin breaks $40,000 amid US interest rate cut expectations

Even as Bitcoin is below its 2021 record highs of $60,000, the cryptocurrency has hit $40,210 going past $40,000 for the first time in 2023 amid expectations of interest rate cut by US Federal Reserve Bank

Bitcoin has broken above $40,000 for the first time in 2023. This, due to a broad enthusiasm about US interest rate cuts and also as traders are anticipating approval of US stockmarket traded bitcoin funds.
<h3>Bitcoin Rally</h3>
At $40,210 Bitcoin hits its highest since April 2022 on Sunday trade. It was steady at $40,011 in thin trade early in the Asia day on Monday. Despite the alleged crypto winter, bitcoins has more than doubled this year.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/u-s-money-laundering-richard-teng-becomes-binance-s-ceo-after-changpeng-zhao-pleads-guilty-steps-down-1700630320585">US money laundering: Richard Teng becomes Binance's CEO after Changpeng Zhao pleads guilty &amp; steps down</a>
Expectations on US Federal Reserve to pause the rate hike has propelled riskier investments and other interest-rate sensitive assets, such as gold to rally over the last few weeks. Reports of US Securities and Exchange Commission not appealing a court ruling that found the agency had been wrong to reject an exchange-traded fund application from crypto firm Grayscale Investments emerged in October. This have also driven the bitcoin prices up.
However, Bitcoin still remains below its 2021 record highs of $60,000

Bitcoin, the world’s largest cryptocurrency, surged 11% to $33,433.8, hitting its highest level since May 2022 

Bitcoin surges to $35,000, reaching a 1.5-year high on the back of ETF expectation

Bitcoin, the world&rsquo;s largest cryptocurrency, surged 11% to $33,433.8, hitting its highest level since May 2022&nbsp;

Bitcoin, the cryptocurrency with the largest market capitalization, reached its highest level since May 2022 on Tuesday amid growing speculation about the imminent launch of a Bitcoin exchange-traded fund (ETF). According to CoinMarketCap data as of 10:30 am, Bitcoin was trading at $34,408.26, marking a 7.7% increase from the previous day.
Ethereum, the second-largest cryptocurrency, also surged by 14.6%, reaching $1,822 on Tuesday morning. Other cryptocurrencies like Ripple, Solana, and Cardano also experienced notable gains.
The total market capitalization of the cryptocurrency market increased by 8.71% to $1.27 trillion, and trading volume surged by a substantial 70% to $81.2 billion within the last 24 hours.
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In the past week, Bitcoin has reasserted its dominance in the market, holding a 53.1% share, followed by Ethereum at 17.3%.
<h3>Bitcoin ETF Expectations</h3>
Several investment firms, including BlackRock and Fidelity Investments, have pending applications for Bitcoin ETFs in the US. The recent listing of BlackRock's iShares ETF on a website fueled speculation about their potential approval. A Bitcoin ETF is expected to streamline the process of buying and selling Bitcoin through traditional stock markets.
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On Monday, a US federal appeals court solidified a victory for Grayscale Investments LLC in its efforts to establish a spot Bitcoin ETF, despite objections from the US Securities and Exchange Commission (SEC). The SEC has been hesitant to approve Bitcoin ETFs due to concerns about potential fraud and market manipulation. However, earlier this year, a US federal court instructed the SEC to reconsider its objections to Grayscale's ETF application, a decision that was formalized on Monday. 
<h3>Bitcoin's Remarkable Performance in 2023</h3>
The cryptocurrency rally follows this ruling, and in 2023, the price of Bitcoin has more than doubled, starting the year at just over $16,000. Shivam Thakral, the CEO of the crypto exchange BuyUcoin, noted that investors are increasingly turning to digital assets in these uncertain times to safeguard their wealth.

Since June 30, bitcoin has held firmly above $30,000 per coin aside for a brief dip below that mark

Crypto rally continues: Bitcoin tops $31,000, Ethereum over $1,954 

Since June 30, bitcoin has held firmly above&nbsp;$30,000 per coin aside for a brief dip below that mark

The world's largest and most popular virtual currency, Bitcoin, notched its highest price in over a year on Tuesday. Bitcoin rose 1.11 percent to $31,016. Its market value stood at $603.21 billion. The trade volume was at $15.80 billion. Meanwhile, the second largest virtual currency, Ethererum or Ether, gained 0.41 percent to $1,953.34 with a market capitalisation of $234.98 billion. The trade volume of Ethereum was $7.78 billion in the last 24 hours.
Meme-based virtual currency, Dogecoin, was up 0.57 percent. Its market value stood at $9.58 billion. The trade volume was at $296.36 million.
Not only this, Shiba Inu also rose 0.52 percent with a market capitalisation of $4.57 billion. The trade volume was $114.89 million in the last 24 hours.&nbsp;
Since June 30, bitcoin has held firmly above $30,000 per coin aside for a brief dip below that mark. However, the price is now comfortably above &nbsp;$31,000 once again. But yet, Bitcoin and Ethereum remain 55% and 57% down from all-time highs of $69,000 and nearly $4,900, respectively, which were both set in November 2021.&nbsp;
Bitcoin and Ethereum make up over 65% of the total crypto market, and several altcoins have faced pressure in the wake of enforcement actions from the Securities and Exchange Commission.&nbsp;

Bitcoin was trading at $30,423 on Thursday for the first time since April after U.S Fed chief Jerome Powell said that the crypto industry 'appears to have some staying power'

Bitcoin breaches $30k mark after Jerome Powell expressed confidence on cryptocurrency

Bitcoin was trading at $30,423 on Thursday for the first time since April after U.S Fed chief Jerome Powell said that the crypto industry 'appears to have some staying power'

Bitcoin breached the $30,000 mark for the first time since April. As per CoinMarketCap, Bitcoin was trading at $30,423 on Thursday. This is a gain over 21% in the last seven days and 5.87% in the last 24 hours.&nbsp;
This comes after Jerome Powell in his statement to the U.S congress said that the crypto industry "appears to have some staying power". However, Powell also added that the U.S Federal Reserve needs a robust role to oversee the cryptocurrencies.
"We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank. We believe it would be appropriate to have quite a robust federal role", Powell said while addressing the twice-yearly hearing on monetary policy.
Meanwhile, the second biggest digital token by market cap Ethereum was trading at $1,927, up 6.5% in the last 24 hours and 16.82% in the last week.

Bitcoin has climbed over $30,000 level for the first time since June 2022. It has gained about 6% since the start of the month

Bitcoin value rises over $30,000 for first time since June

Bitcoin has climbed over $30,000 level for the first time since June 2022. It has gained about 6% since the start of the month

Bitcoin has climbed over the key $30,000 level for the first time since June 2022, rallying more than 80% since the start of the year. This comes, as the investors expect the U.S. Federal reserve to soon end its monetary tightening policy.
As per Bloomberg, the rebound is even more intense than a nearly 20% gain on the Nasdaq 100 &mdash; with which Bitcoin has tended to move in tandem &mdash; and retraces some of the digital token&rsquo;s losses from 2022 following a series of crypto-related blowups. Still, Bitcoin is down more than 50% from its all-time high in November 2021.
The token has risen as much as 2% to $30,262. The cryptocurrency has gained about 6% since the start of the month. In March it has gained about 23%.&nbsp;
As per Mint, bitcoin's surge follows Friday's closely-watched US nonfarm payrolls report that showed employers maintained a strong pace of hiring in March, pointing to a still-resilient economy.
Bloomberg reported, bitcoin&rsquo;s breakout above stiff resistance at $30,000 comes after a so-called squeeze of the Bollinger Band, which saw historical volatility fall to the lowest since January. The compression back then resulted in a sharp move upward that looks similar to Tuesday&rsquo;s upside breakout. Traders following technical patterns may now be looking at the $30,800 area as a first potential objective, followed by $31,200.

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