Author: Max Bauer
Bitcoin (BTC) has soared to a new all-time high of $75,990, driven by optimistic expectations surrounding the re-election of Donald Trump as US President. The cryptocurrency had already broken its previous record earlier in the day following confirmation of Trump’s win, but this latest surge late in the day has pushed the all-time high (ATH) even higher. At the time of writing, Bitcoin is trading at $75,977, remaining remarkably close to its peak valuation. The price surge, representing a roughly 10% increase over the past 24 hours, is largely attributed to the anticipation that Trump will implement more cryptocurrency-friendly policies…
Donald Trump’s presidential victory has transformed the regulatory landscape for cryptocurrencies, shifting from a headwind to a tailwind, according to analysts at Bernstein, a leading research and brokerage firm. The market, they argue, has yet to fully price in this significant shift. In a note to clients on Wednesday, Bernstein analysts led by Gautam Chhugani predicted the appointment of a “crypto-friendly” SEC Chair and the influence of a similarly inclined Senate Banking Committee will accelerate regulatory clarity for the industry. This marks a stark contrast to the current SEC under Gary Gensler, which has engaged in numerous legal battles with…
The US cryptocurrency industry is celebrating significant victories following Donald Trump’s re-election and a Republican surge in Congress, creating what some are calling the “most pro-crypto Congress ever.” Data compiled by Stand With Crypto, a crypto advocacy group launched by Coinbase, reveals that 247 pro-crypto candidates secured seats in the House of Representatives, compared to 113 anti-crypto members. The Senate also leans favorably towards crypto, with 15 supporters and 10 opponents. This pro-crypto majority in both chambers, combined with Trump’s re-election, has sparked optimism about the potential for clear and supportive regulation for the industry. While the House, with its…
Following Donald Trump’s victory in the presidential election, Ripple executives Brad Garlinghouse (CEO) and Stuart Alderoty (CLO) issued statements urging the new administration to prioritize cryptocurrency regulation reform. Garlinghouse offered a pointed “first 100-day checklist” for the incoming president, beginning with the immediate dismissal of current SEC Chair Gary Gensler. He suggested replacing Gensler with figures like Giancarlo (presumably referring to former CFTC Chairman Chris Giancarlo), Brooks (likely former OCC Comptroller Brian Brooks), or Gallagher (possibly former CFTC Commissioner Dan Gallagher), citing them as “massive upgrades in rebuilding the rule of law (and reputation) at the SEC.” The Ripple CEO…
Bitcoin (BTC) has tightened its grip on the cryptocurrency market, reaching a 3.5-year high in market dominance as altcoins struggle to keep pace. This surge comes as the US election casts a shadow over the market, adding to the prevailing uncertainty. While Bitcoin remains less than 4% below its recent near-record high of over $73,000, major altcoins like Ethereum (ETH) and Solana (SOL) have suffered significant losses, dropping nearly 10% from their recent peaks. The broader market, as represented by the CoinDesk 20 index, also declined by almost 6%. Smaller cryptocurrencies fared even worse. The combined market capitalization of altcoins…
Bitcoin’s resilience in the current market cycle is becoming increasingly evident, with data from crypto analytics firm CryptoQuant showing it leading the pack in proximity to its all-time high (ATH). Interestingly, TON and BNB are also showing relative strength, joining Bitcoin as the cryptocurrencies closest to reclaiming their peak prices. CryptoQuant’s Price Drawdown Heatmap reveals the stark contrast between Bitcoin and the majority of altcoins. While Bitcoin remains nearest to its ATH, followed by BNB, TON, SOL, and ETH, most other altcoins languish far from their previous highs, with drawdowns ranging from 74% to a staggering 97%. This disparity in…
Despite anxieties within the crypto community about the upcoming US election, Bitwise Chief Investment Officer Matt Hougan remains bullish on the industry’s future. He believes crypto adoption will continue its upward trajectory regardless of who wins the presidency. “Short-term, a Trump victory is better than a Harris victory,” Hougan stated, referring to candidates Donald Trump and Kamala Harris. “Long-term, Bitcoin, Ethereum, and stablecoins will thrive regardless of who wins.” This optimistic outlook contrasts sharply with the concerns of many crypto industry figures who fear a Harris victory would devastate digital assets. They point to the SEC’s ongoing crackdown under Gary…
The myth of Apple computer invulnerability in the crypto world has been shattered. A newly discovered Mac Trojan can compromise systems and steal crypto wallet private keys in a mere ten seconds, sparking serious security concerns. A recent video demonstration by SlowMist team member @im23pds revealed the alarming speed and efficiency of this attack, which tricks users into installing a disguised DMG package. The Attack Breakdown This attack bypasses Apple’s stringent security measures through a clever phishing strategy. Users are tricked into installing what appears to be legitimate software, but is actually a Trojan horse. While Apple’s review process generally…
As speculation mounts regarding Gary Gensler’s tenure as chair of the Securities and Exchange Commission (SEC), the cryptocurrency industry is closely watching the political landscape for signs of potential change. Gensler, in his three years at the helm, has become a polarizing figure in the crypto world, with many firms alleging that he has waged an unfair campaign against them. In response, the industry has poured significant resources into the 2024 election, aiming to secure Gensler’s ousting. Both major political candidates have signaled intentions that could affect Gensler’s future. Donald Trump, the Republican frontrunner, has vowed to remove Gensler if…
Bitcoin’s recent surge has been notable for a surprising absence: retail investors. Data from consumer platforms like PayPal and Coinbase, along with research from CryptoQuant, confirms muted retail activity in the cryptocurrency market. Instead, whales and institutional investors are driving Bitcoin’s momentum, now accounting for a larger share of the market. This shift is evident in the significant inflows into spot Bitcoin ETFs in the US, with large investors responsible for two-thirds of the $24 billion invested since inception. Several factors contribute to this retail absence: