Bitcoin has surged over 19% in just over a month, breaking above $80,000 amid rising inflation signals like high oil prices and commodity indexes. Traditionally, rising inflation and higher interest rates would pressure Bitcoin as investors favor safer assets, but Bitcoin's rally suggests it may be transitioning from a risk asset to an inflation hedge. This shift is supported by $4.45 billion inflows into U.S. spot Bitcoin ETFs since March and endorsements from notable investors like Paul Tudor Jones. However, Bitcoin's correlation with rising U.S. equities complicates the narrative; the true test will come if Bitcoin holds or rises during a stock market downturn, confirming its inflation hedge status.
Cryptocurrency markets saw a general decline with major coins like Bitcoin and Ethereum dropping by about 1.2% and 1.1% respectively. Bitcoin traded near $61,883 while Ethereum hovered around $1,748. Other altcoins also experienced losses, reflecting...
U.S. spot Bitcoin ETFs experienced $526.64 million in net outflows from June 29 to July 2, marking eight straight weeks of withdrawals as institutional investors reduce exposure amid market uncertainty. Despite this, Bitcoin remains above the $60K su...
Bitmine Immersion increased its Ethereum holdings by 42,197 ETH, worth about $74 million, raising its total to 5.74 million ETH or 4.8% of the circulating supply. Chairman Tom Lee credits this buying spree to rising investor optimism that the propose...
XRP's Binance Scarcity Index reached its highest level since 2024 as whales moved coins to non-custodial wallets, tightening supply and supporting price near $1.14. A BitGo whale transferred 114.9 billion Shiba Inu (SHIB) tokens to a new cold wallet,...
Cryptocurrency prices showed a general downward trend, with Bitcoin trading near $61,955, down 1.12%, and Ethereum at $1,747.46, down 0.88%. Other major coins like Binance Coin and Cardano also saw declines, while a few tokens experienced minor gains...
