The largest crypto asset rose more than 7% on Wednesday after several catalysts sent crypto-related assets higher.
Bitcoin ran from around $64,100 to nearly $70,000 within hours on Aug. 19, once the US Treasury unexpectedly doubled its planned buybacks of long-dated government debt. The move pushed bond yields lower and forced roughly $1.4 billion of crypto short positions out of the market in just four hours.
Skybridge Capital CEO Anthony Scaramucci remains confident that bitcoin will surge past $100,000, arguing that the supply cuts from the halving cycle will drive the next major breakout.
Bitcoin's steepest daily gain since March caught traders off guard, and Myriad's pump-or-dump market swung from 70-30 odds to nearly even in a single day.
The narrative that positions Bitcoin as an instrument for achieving retirement without selling the underlying asset has gained traction in the sector. The mechanism is called buy, borrow, die, and it consists of maintaining exposure to BTC, obtaining liquidity through collateralized debt, and avoiding realization of the asset.
Is shrinking stablecoin liquidity actually a bullish bottom signal?
Bitcoin's rise to $70,000 highlights the transformative impact of institutional investment and regulatory changes on cryptocurrency markets. Bitcoin hits $70,000 milestone.
Remixpoint's strategy highlights the growing trend of corporate diversification into digital assets, balancing potential returns with inherent risks. Remixpoint increases Bitcoin holdings by 9.96 BTC to 1,501.27 BTC.
Bitcoin surpassed $66,500 for the first time since July, driven by three key regulatory and macroeconomic catalysts in the U.S. The SEC submitted the Regulation Crypto Assets proposal, which simplifies capital access for companies in the sector and creates a safe harbor framework. Spot Bitcoin ETFs recorded daily net inflows of $189.30 million.
The integration of USDU into Bitcoin.coms wallet could enhance stablecoin adoption, bridging regulatory compliance with consumer accessibility. Bitcoin.com integrates USDU, the UAE's first central bank-registered dollar stablecoin, into its wallet.
Strive's strategic Bitcoin accumulation highlights a growing trend of firms leveraging crypto as a primary reserve, impacting market dynamics. Strive's Bitcoin holdings increase by $69M as Bitcoin rises $3,400.
Zhibao Technology, a Chinese insurance technology company listed on Nasdaq, closed a private funding round of $154.7 million paid entirely in cryptocurrencies. A syndicate of non-U.S. investors deposited 2,380 Bitcoin directly into a corporate wallet, without any prior conversion to cash, at a reference price of $65,000 per unit based on market levels as of July 30.