Bitcoin finally broke $96,000!
Bitcoin was stuck in the $80K range for what felt like forevers… and just like always, the doom-scrollers were writing obituaries for the bull market.
Funny how quickly sentiment changes when those green candles start showing up.
The market’s waking up from its sideways slumber, and portfolios are looking healthier by the minute.
But what’s going on? Let’s make sense of it all! Here is a quick rundown of the top headlines from the past 24 hours:
- Bitwise’s European research head predicts Bitcoin will match gold’s market cap by 2029, pushing BTC to $1 million. But what is convincing these analysts this time around?
- Coinbase is removing Movement Network’s token from its platform, sending MOVE crashing 14.5% in a single day. What exactly happened here?
- Sam Altman’s controversial identity project is finally launching in six major US cities after years of regulatory caution. Can mainstream partnerships revive WLD’s price?
- A Trump-associated stablecoin is powering a $2 billion investment into Binance – one of the largest funding deals in crypto history. Will USD1 become crypto’s preferred settlement token?
- Tether’s quarterly profits plummeted from $4.52 billion last year to just over $1 billion this quarter despite holding more assets than ever. What’s going on with Tether?
Let’s dive in after the market overview!
Bitcoin’s Road to One Million
Bitwise’s European research head predicts Bitcoin will match gold’s market cap by 2029, pushing BTC to $1 million.
Institutional money is already breaking records with Bitcoin ETFs, but this seems to be just the beginning. The real wave hits when major banks like Merrill Lynch fully open their distribution channels.
Without government involvement, Bitcoin could hit $200,000 by the end of 2025.
And with US government purchases? That target jumps to $500,000.
But what’s the exact logic behind these numbers? Read the full story!
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MOVE Plunges as Coinbase Announces The Delisting
Coinbase is removing Movement Network’s token from its platform, sending MOVE crashing 14.5% in a single day.
This removal coincides with an investigation into Movement Labs’ suspicious dealings with a market maker that gave “Rentech” control of 66 million MOVE tokens.
Read the full story!
Eyeball Scanning Goes Mainstream
Sam Altman’s controversial identity project is finally launching in six major US cities after years of regulatory caution.
New partnerships include a Visa payment card and a pilot with Tinder’s parent company to verify real humans on dating apps.
Can mainstream partnerships revive WLD’s price? Read the full story!
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Trump Stablecoin Fuels Crypto Megadeal
A Trump-associated stablecoin is powering a $2 billion investment into Binance – one of the largest funding deals in crypto history.
Abu Dhabi investment firm MGX will use USD1 to settle the entire transaction, according to Eric Trump’s announcement in Dubai.
Will USD1 become crypto’s preferred settlement token? Read the full story!
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Tether Profits Crash
Tether’s quarterly profits plummeted from $4.52 billion last year to just over $1 billion this quarter despite holding more assets than ever.
The dramatic decline comes from Bitcoin’s performance shift – last year BTC surged 64% in Q1, while this year it declined 12%.
Tether now holds nearly $120 billion in U.S. Treasuries and $7.7 billion in Bitcoin, backing $148 billion of circulating USDT.
But how is its revenue linked to Bitcoin’s price? Read the full story!