Bitcoin BTC$68,789.92 may gain if a potential U.S.-Iran conflict stretches on for months as higher government spending, rising debt and lower interest rates create conditions that have historically supported the cryptocurrency, according to macrostrategist Mark Connors. Wars are expensive, and financing them typically requires governments to issue more debt, said Connors, formerly the head of…
BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury firm, purchased 60,976 ether (ETH) through last week, increasing the pace of accumulation as the firm bets crypto prices are nearing the end of what it calls a “mini winter.” The latest purchase, worth some $120 million at current prices, lifted BitMine’s ETH holdings to over 4.5…
U.S. inflation data is the major catalyst to watch this week, as it could move the needle on market sentiment and Federal Reserve interest-rate expectations. The war in the Middle East and other geopolitical risks have kept commodity markets volatile, with bitcoin BTC$68,153.83 last week failing to remain above the $70,000 mark. The U.S.-Israel conflict…
The banking industry has more to gain from the stalled U.S. Digital Asset Market Clarity Act, a bill aimed at regulating digital assets, than the crypto industry, according to Christopher Giancarlo, a former chairman of the country’s Commodity Futures Trading Commission (CFTC). “The banks need this more than crypto,” Giancarlo told Scott Melker on Sunday’s…
The week-long war between Iran, the U.S., and Israel has pushed oil prices on both sides of the Atlantic past $100 a barrel, threatening to inject inflation into the global economy. Asian markets are taking a hit, bond yields are climbing, and yet bitcoin BTC$67,250.88 has barely budged, hovering around $67,000, where it was 24…
Bitcoin is holding up better than it probably should. The largest cryptocurrency traded at $67,378 on Monday morning, up 1.1% over the past 24 hours and essentially flat on the week, while the world around it deteriorated sharply. Among majors, ether rose 2.3% to $1,981, hovering just below $2,000. BNB gained 1.4% to $624. Dogecoin…
Oil futures surged above $110 a barrel Monday as escalating tensions in the Middle East rattled global markets, sending Asian stocks sharply lower, with all of the region’s markets opening deep in the red, even as bitcoin held steady near $67,000. West Texas Intermediate crude jumped roughly 17% in 24 hours. Japan’s Nikkei 225 fell…
Oil barrels that can still reliably reach global markets via the Middle East are now trading above $100 a barrel, a stark market signal of acute geopolitical stress and supply fears that could ripple through global risk assets, including stocks and bitcoin BTC$66,244.42. Since the military conflict between the U.S., Israel and Iran began a…
In what’s become a familiar scenario in crypto over the past few months, prices are starting the week on the wrong foot. After little sign over the weekend of any de-escalation in the U.S. war against Iran, the price of oil has exploded higher in Sunday evening U.S. trade. April WTI crude oil futures are…
Key senators critical to advancing the crypto market structure legislation may soon be willing to move forward on the bill, individuals familiar tell CoinDesk. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Crypto negotiators’ hopes are bubbling up over…
