It’s only recently that Donald Trump has paid any attention to crypto. But now he wants to be the “crypto president,” and he’s raising digital assets as a geopolitical issue. Asked on July 16 why he’s suddenly embracing the crypto community, he told Bloomberg: “If we don’t do it, China is going to pick it up and China’s going to have it—or somebody else, but most likely China.” In the interview, Trump explained how the recent experience with his “Mugshot” NFT Collection “opened my eyes” to cryptocurrencies, saying, “80% of the money [from the NFT sale] was paid in crypto. It was incredible.” “So we have a good foundation [i.e., crypto]. It’s a baby. It’s an infant right now. But I don’t want to be responsible for allowing another country to take over this sphere,” he added.
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Among a few important discussions, one matter that people across the crypto market are discussing is ‘the next crypto market bull run.’ Although no one is certain for when the event could occur, it is anticipated that this time it is going to be massive. Other than being the biggest, this bull run is different from the previous ones in terms of the sectors that will lead the rally. The bullish and bearish phases are common phenomena due to the crypto market’s cyclical nature while moving forward. Historically Bitcoin (BTC) price movements have ignited and sustained the bull runs but gradually the dependency shifted to other altcoins, sectors and narratives. A glance in the past cycles shows BTC price first saw a massive jump in 2011 when it rose from $0.8 to $36 due to new traders entering the market and pouring money. Later in 2013, Bitcoin sustained $50 price levels and later hit the $1,000 mark for the first time.
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The launch of spot Ether exchange-traded funds (ETFs) could see the cryptocurrency outperform Bitcoin in the weeks after they go live in the United States, say K33 Research analysts. is set to face sell pressure as $8.5 billion worth is returned to creditors of collapsed exchange Mt. Gox starting this week, K33 analysts Vetle Lunde and David Zimmerman said in a July 2 report. Ether has underperformed relative to Bitcoin for over a year, with BTC posting market-leading gains bolstered by over $14 billion in flows to its spot ETFs in 2024. Lunde and Zimmerman said it’s reasonable to expect the price of ETH to “stumble immediately following the launch of the ETFs” but noted that — much like what later happened with Bitcoin — inflows to the spot funds would likely bolster ETH’s price. “ETFs are a solid catalyst for relative ETH strength as the summer progresses and flows accumulate, and I firmly view current ETH/BTC prices as a bargain for the patient trader,” Lunde wrote.
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