U.S. Treasury Secretary Scott Bessent said the Treasury will increase its purchases of long-term government bonds, with the scale potentially exceeding the previously announced $4 billion. The statement, delivered during a press briefing on Wednesday, marks a notable shift in the department’s debt management strategy and has drawn attention from financial markets, particularly cryptocurrency traders.
In brief Bitcoin hit an intraday high of $72,408 Thursday before easing to $71,423, up 3.07% on the day This is the highest level since a flash crash sent the coin below $68,000 on June 2. Bitcoin’s short sellers are having their worst two days on record: more than $3 billion in short positions were
The $BTC price has run hard enough to wake up an altcoin market that had little to celebrate. From $62,821 on August 17 to $72,071 by August 20, Bitcoin gained roughly 14%, pushing against its 200-day EMA while the top 100 altcoins largely moved into the green. $BTC Price Rally Gives Altcoins Room to Breathe
Coinbase CEO Brian Armstrong stated that Bitcoin ($BTC) could experience a strong upward trend in the coming years, adding that reaching the $300,000 to $400,000 range by 2030 is “very likely.” Appearing on the Varney & Co. program on Fox Business Network, Armstrong shared his long-term expectations regarding the price of Bitcoin, while also drawing
The U.S. Treasury’s plan to routinely buy back long-term government debt could mark a turning point for bitcoin $BTC$72,240.20 by easing one of the pressures that has weighed on crypto markets, according to macro strategist Mark Connors. Treasury Secretary Scott Bessent said Thursday that the government expects to conduct regular buybacks of long-dated bonds and
Bitcoin surged a second time today, surpassing $72,000 and reaching its highest level since June, following yesterday’s sharp rise. According to Binance data, $BTC climbed as high as $72,830 during the day, and is currently trading around $72,500 at the time of writing. A chart showing the increase in $BTC price. The rise in the
Hudson River Trading signed a multiyear agreement worth billions of dollars with CoreWeave to expand the computing infrastructure used for its trading research and models. The agreement builds on an existing partnership between the companies and represents a material expansion of their relationship, CoreWeave Chief Revenue Officer Jon Jones told Bloomberg. He declined to disclose
Bitcoin ($BTC) saw multimonth highs after Thursday’s Wall Street open while stocks dipped and bond yields rebounded on US-Iran war nerves. Key points: Bitcoin builds on its highest levels in 11 weeks to hit $72,500 on Bitstamp. US bond yields see volatility after president Donald Trump threatens “economic warfare” with Iran. Bitcoin market participants question
Franklin Templeton is preparing to use tokenized assets inside conventional investment funds after receiving SEC staff relief allowing its funds to invest in shares of its blockchain based money market fund. The SEC Division of Investment Management said in an August 12 no action letter that it would not recommend enforcement action against Franklin funds
Legendary futures trader and head of Factor LLC Peter Brandt has opened a long position in Bitcoin, completely reversing his previous market outlook. The change in his trading strategy was prompted by a decisive technical breakout from a rare chart pattern that pulled the cryptocurrency out of a prolonged downtrend. Recently, falling prices had dominated