Bitcoin Blasts Past $105K on Global Peace News, Altcoins Surge as ETFs Attract Billions

Digital Assets Decoded: Your Daily Crypto Guide podcast.# Digital Assets Decoded: Your Daily Crypto GuideHey crypto enthusiasts! Crypto Willy here with your weekly roundup of everything happening in the digital asset space. Let's dive right in!Bitcoin has been on a wild ride this week, challenging the $105,000 mark thanks to some surprisingly positive macro headlines. Last weekend, former President Trump shared some encouraging updates about US-China trade negotiations happening in Switzerland, noting "GREAT PROGRESS MADE!!!" This, coupled with Trump's announcement of a "full and immediate" ceasefire between India and Pakistan, gave the markets a significant boost.Adding to the positive sentiment, Russian President Putin expressed willingness for "serious talks with Ukraine," suggesting discussions "without preconditions" in Turkey. This trio of good news pushed Bitcoin to just under $105K before settling around $104,500, representing a 1.5% increase over 24 hours. Ethereum wasn't left behind, surging an impressive 7.7% in the same period.Speaking of Bitcoin, a gold-based forecast is suggesting that hitting $220K in 2025 is "reasonable" according to the cryptocurrency's "power curve" analysis. Meanwhile, spot Bitcoin ETFs continue to attract massive capital, with over $5.61 billion pouring in since early April, according to SoSoValue.However, it hasn't all been smooth sailing. Bitcoin's price has experienced some volatility, dropping below $102,000 earlier this week as long-term holders began taking profits. Several major altcoins including ETH, DOGE, and XRP took a hit, dropping about 3% following Moody's downgrade of the U.S. credit rating.In corporate news, Alchemy has acquired Solana developer DexterLab for an undisclosed sum, aiming to accelerate the development of Solana-based Web3 applications to meet increasing enterprise demand. The SEC is also reportedly probing Coinbase over concerns about user number misstatements.A scandal is brewing around Movement Labs, a Trump-backed crypto startup, as leaked documents reveal they secretly promised advisers millions in tokens through undisclosed agreements. This, along with an investigation into Trump's crypto ventures over potential fraud, bribery, and conflicts of interest, has cast some shadows over the market.On a more positive note, the Ethereum Foundation has announced a trillion-dollar security initiative aimed at making individuals, businesses, and organizations more comfortable with storing value on the network.Technical analysts are suggesting that several Bitcoin metrics are aligning for an extended bull run as the price continues to hold above six figures. Wealthy investors appear to be holding and accumulating coins for the long term, while many retail traders sell during rallies.That's all for this week's crypto roundup! This is Crypto Willy signing off – stay decentralized, my friends!Get the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

There are no comments yet.

Please log in to write the first comment.