Bitcoin Heads Straight Down Following Imposition of Trump Tariffs
What a turn of events it's been for Bitcoin (CRYPTO:BTC) holders over the past few days.
Got $3,000? Buy These 2 Cryptocurrencies Right Now.
With an ongoing crypto bull market and widespread interest in the asset class among everyone from retirement investors to the government, now's a great time to think about starting a position in some of the sector's leaders.
Bitcoin's Scarcity Dismissed By Economist Peter Schiff: 'Anyone With A Solana Address Can Create A Meme Coin With A Fixed Supply'
Noted economist Peter Schiff questioned the exclusivity of Bitcoin’s BTC/USD finite supply on Friday, claiming that such assets can be easily created using a Solana SOL/USD blockchain. What Happened: Schiff took to X to challenge the idea that the apex cryptocurrency’s “valuable digital property” thesis lies in its fixed supply, as advocated by prominent Bitcoin bull and MicroStrategy Chairman Michael Saylor. “Anyone with a Solana address can create a meme coin with a fixed supply at practically no cost. The potential supply of fixed-supply digital assets is infinite,” Schiff argued. The reason @saylor claims Bitcoin is valuable digital property is because it's the only asset with a fixed supply. But anyone with a Solana address can create a meme coin with a fixed supply at practically no cost. The potential supply of fixed-supply digital assets is infinite. Schiff most likely referred to Pump.fun, a Solana-based meme coin launchpad that lets users create their own tokens without requiring extensive technical expertise. The plug-and-play system allows details like token name, symbol, and total supply to be filled. An X user, ZacG, countered Schiff’s arguments, stating that a fixed supply works well only with sufficient decentralization. “Bitcoin’s proof of work and decentralization enforce its supply cap. Meme coins have no such guardrail,” the user stated. Peter, a fixed supply is only credible under sufficient decentralization. Otherwise that cap is subject to arbitrary change at the whims of its central authority. Bitcoin's proof of work and decentralization enforce its supply cap. Meme coins have no such guardrail. See Also: Elon Musk’s DOGE Department Reportedly Eyes Blockchain To Slash Federal Spending—Justin Sun Says Tron A Good Option Why It Matters: Schiff’s views on Bitcoin have been a subject of intense debate. Last week, he described the leading cryptocurrency as a meme coin devoid of intrinsic value. He has regularly expressed concern about what he sees as a speculative mania surrounding cryptocurrencies, saying that it could jeopardize the fundamentals of sound money. Interestingly, BlackRock, the world’s largest asset manager, supposedly disputed Bitcoin’s 21 million supply cap in an explainer video in December. Price Action: At the time of writing, Bitcoin was trading at $101,477.62, down 3.14% in the last 24 hours, according to data from Benzinga Pro. Bitcoin was up 8.86% year-to-date. Image via Shutterstock
Bitcoin, Ethereum, Dogecoin Fall With Stock Futures Amid Trump Tariff War, DeepSeek Hype: Top Trader Predicts Bitcoin's Upside To $122,000
Leading cryptocurrencies faced heavy sell-offs Sunday evening, mirroring the decline in stock futures. What Happened: Bitcoin plunged from $105,000 in the afternoon to $101,000 by evening, triggering a broader market slump. Ethereum slipped from $3,340 to $3,178, while Dogecoin also plunged more than 7%. About $400 million was liquidated from the cryptocurrency market in the last 4 hours of trading, with long liquidations accounting for $389 million. The number of traders placing downside bets on Bitcoin increased in comparison to those gunning for price increases, according to the Long/Short ratio. Bitcoin's Open Interest rose marginally in the last 24 hours. A rise in OI, coming alongside a drop in prices, indicated short selling. The market sentiment remained in the "Greed" zone, according to the Crypto Fear & Greed Index. Top Gainers (24-Hours) The global cryptocurrency market capitalization stood at $3.47 trillion, contracting 3.65% in the last 24 hours. Stock futures ticked lower on Sunday night. The Dow Jones Industrial Average Futures fell 184 points, or 0.41%, as of 8:41 p.m. EDT. Futures tied to the S&P 500 fell 0.94%, while Nasdaq 100 Futures lost 1.79%. The slump coincided with President Donald Trump's punitive tariffs on Colombian imports and the hype surrounding China's open-source AI model, DeepSeek. These moves come ahead of a big earnings week, with tech behemoths from the ‘Magnificent 7' cohort set to report their quarterly financials. Additionally, the Federal Reserve will hold its meeting on Wednesday, with investors pricing in a 99.5% chance that the interest rates will remain unchanged, according to the CME FedWatch tool. See More: Best Cryptocurrency Scanners Analyst Notes: Popular cryptocurrency analyst Ali Martinez noted an invalidation of Bitcoin's head-and-shoulders pattern, prompting an upside target of $122,000. Note that the head and shoulders chart pattern depicts a bullish-to-bearish trend reversal, signaling that an upward trend is nearing its end. The failure of this head-and-shoulders pattern suggests a potential upside target of $122,000 for #Bitcoin $BTC! pic.twitter.com/vMTfoaRNSO In one of his earlier posts, Martinez also likened Bitcoin's ongoing trajectory to its 2015-2018 cycle. "Historically, it was around this point when BTC went parabolic," the analyst remarked. Another widely followed cryptocurrency chartist, Rekt Capital, underlined the importance of Bitcoin's historic weekly close. "Historically, similar weekly closes above a final major weekly resistance at this moment in the cycle have preceded continued upside to new all-time highs," the analyst added. #BTC Bitcoin is mere hours away from what could be a historic Weekly CloseHistorically, similar Weekly Closes above a final major Weekly resistance at this moment in the cycle have preceded continued upside to new All Time Highs$BTC #Crypto #Bitcoin Click Here pic.twitter.com/Ni8k16FyWR Photo by CMP_NZ on Shutterstock
Why the Market Was so Thrilled With Riot Platforms Stock This Week
A research report singing the praises of the cryptocurrency mining sector was a key impetus behind Riot Platforms' (RIOT -1.26%) rise over the past few stock trading sessions. The Bitcoin (CRYPTO: BTC) specialist's shares were enjoying a nearly 11% lift week to date as of Friday before market open as a result, according to data compiled by S&P Global Market Intelligence.
BTC: The Lowest Cost Bitcoin ETF
Grayscale's Bitcoin Mini Trust ETF is gaining market share due to its low expense ratio of 0.15% and could grow into the top 5 Bitcoin ETFs in the coming months. Total Bitcoin ETF assets under management have grown from approximately $30bn to over $105bn in the last 12 months. As more individuals, institutions and governments adopt Bitcoin as a store of value, and as network supply decreases. Price per Bitcoin could reach prices over $200,000 before year-end 2025.
1 Top Cryptocurrency to Buy Before It Soars 1,477%, According to Cathie Wood
Cathie Wood is closely watched by many investors. Her firm, Ark Invest, focuses on innovative and disruptive companies it believes can register tremendous growth.
Should You Buy the Bitcoin Dip?
After finally breaking through the long-anticipated $100,000 mark, Bitcoin (BTC -0.15%) rallied to an impressive high of $108,000. However, it hasn't all been smooth sailing since.
Will Tesla accept Bitcoin payments in 2025 as BTC goes 56% green
The 2024 – and, hopefully, the 2025 – cryptocurrency bull market is appearing increasingly likely to, along with Bitcoin's (BTC) stellar performance, bring back another development from 2021: Tesla's (NASDAQ: TSLA) acceptance of BTC payments.
3 Reasons Bitcoin Could Go Parabolic in 2025
Now that Bitcoin (BTC 1.33%) has broken through the $100,000 price level, it's understandable why many investors are wondering just how much higher the world's most popular cryptocurrency can go. Bitcoin is now up about 115% for the year and about 500% during the past two years.
Should You Forget Bitcoin and Buy Solana Instead?
Bitcoin's (BTC 4.16%) price hit an all-time high of $103,332 on Dec. 4. Four main catalysts drove it to that point: the approvals of its first spot price ETFs in January; its latest halving in April, which cuts its rewards for mining in half every four years; interest rate cuts; and President-elect Trump's crypto-friendly policies.
Should You Forget Bitcoin and Buy Solana Instead?
The S&P 500 (^GSPC 1.09%) market index has seen a total return of 25% in 2024. That's a fantastic year for the stock market, but it can't hold a candle to the crypto market.
