The world of Bitcoin could not be more exciting! Despite the price, we’ve got bullish indicators, Japan continues to look favourably on BTC, and Julian Assange is free!
Bitcoin and Ether are expected to see renewed bullishness following a significant options expiry worth $10 billion on Friday. Historically, such expiries lead to notable price movements, and the upcoming one could drive prices higher as traders adjust positions post-expiry (CoinDesk).
U.S. spot Bitcoin ETFs have seen $31 million in net inflows recently. Despite market volatility, this positive trend reflects growing investor interest and confidence in these financial products (The Block).
Japanese investment firm Metaplanet has designated Bitcoin as a strategic reserve currency, citing Japan's financial instability, substantial debt, and yen devaluation. Since April 2024, Metaplanet has acquired 141 Bitcoins, boosting its stock price significantly. This move aligns with global trends of companies investing in Bitcoin to diversify and protect against local currency risks (Daily Coin Post).
Nayib Bukele, the pro-Bitcoin President of El Salvador, has been re-elected for a second term. Known for adopting Bitcoin as legal tender in 2021, Bukele’s popularity is driven by his anti-gang policies, reducing violence significantly. Despite initial scepticism, his re-election ensures continued cryptocurrency advocacy and economic reforms (GNCrypto).
The U.S. federal debt interest has surpassed $1 trillion for the first time, with projections indicating it could reach $3 trillion in five years. Last month, the government spent $103 billion on debt interest, with total borrowing hitting unprecedented levels. Foreign ownership of U.S. debt has declined, increasing the financial burden on American citizens (Bitbo).
The UK's Financial Conduct Authority (FCA) arrested two individuals for allegedly operating an illegal crypto asset exchange worth over 1 billion pounds. The operation bypassed registration and anti-money laundering regulations. Multiple digital devices were seized. The suspects, released on bail, are part of an ongoing investigation. The FCA emphasised its commitment to preventing illegal financial activities in the UK (Coin Telegraph).
In a bizarre turn, a criminal gang in Florida has resorted to targeting Bitcoin owners in home invasions, threatening victims at gunpoint to transfer their cryptocurrency. The Federal case sheds light on the growing intersection of digital assets and traditional crime, highlighting the need for heightened security measures among cryptocurrency holders amid evolving criminal tactics (Fortune).
Global investment broadcast network CNBC holds a tongue-in-cheek "Bitcoin funeral" after they removed the Bitcoin price ticker from their live video feed. The crypto market was in the midst of a major collapse, with the total crypto market cap down 80% from $800 million just months before (YouTube).