Cryptocurrencies kicked off the Asian trading day on a positive note as Bitcoin and Ether surged, buoyed by BlackRock's venture into asset tokenisation and the commencement of a global central bank easing cycle.
Bitcoin (BTC) traded at $67,300, up 4.9% in the last 24 hours, while Ether climbed 4.7% above $3,400. The CoinDesk 20 (CD20), measuring the most liquid cryptocurrencies, saw a 5% rise at press time.
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Analyst Bradley Park credits BlackRock's fund targeting tokenized products on Ethereum, dubbed BUIDL, for the market gains.
Short positions against Bitcoin and Ether faced significant losses, with over $100 million in leveraged futures positions liquidated in the past day. Approximately $60 million was from short BTC positions and $42.8 million from short Ether positions.
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Selling pressure from the Grayscale Bitcoin Trust (GBTC) has slowed, potentially contributing to Bitcoin's upward movement. Genesis' share sale is cited as a factor for the increase in GBTC outflow.
Macro factors align bullishly as central banks globally ease policies. Last week, the Swiss National Bank (SNB) unexpectedly cut its benchmark interest rate, initiating the easing cycle. Similar moves were made by the Central Bank of Mexico, the Federal Reserve, the European Central Bank, and the Bank of England.
Despite looming market corrections, experts remain optimistic about equities, residential real estate, gold, and Bitcoin in the medium term. Founder of the Blokland Smart Multi-Asset Fund shared insights on the current market scenario on X.
The small Italian town of Fornelli is unveiling Italy’s first Satoshi Nakamoto monument on 1 May 2025, funded by the local government. The village, known for its high Bitcoin adoption, is positioning itself as a crypto-friendly destination.
WeatherlyCardano founder Charles Hoskinson said Ethereum could become outdated in the next 10 to 15 years due to poor design choices and weak governance. He claimed its current systems are flawed and not strong enough to support future growth.
AnaisSam Altman, CEO of OpenAI, has praised Bitcoin as a global currency beyond government control. He called it a smart and important step towards changing how the world handles money.
AnaisGoMining's Miner Wars gamifies Bitcoin mining by letting players use digital miner NFTs to earn Bitcoin rewards through its extensive mining infrastructure. The game has attracted over 245,000 active users and introduced features like clan leagues and welcome packs to boost engagement.
AnaisBitcoin jumped to $92,000 as U.S. trade tensions eased and stocks rebounded, showing renewed investor optimism. However, futures and options markets remain cautious, signaling traders are not fully convinced it will break past $95,000 yet.
Jason RiggsHackers stole 500,000 ETH (about $1.4 billion) from Bybit using malware and laundered most of it through mixers, bridges, and decentralised platforms. Nearly 70% of the funds are still traceable, but a third has disappeared, with few signs of recovery so far.
AnaisFamily offices are investing more in Ethereum than Bitcoin through crypto ETPs, showing stronger interest in Ethereum among smaller investors. Larger institutions still dominate Bitcoin ETPs, but Ethereum is attracting a broader and more diverse range of players.
WeatherlyGary Gensler criticised Trump’s tariffs as harmful to the U.S. economy and warned that trade tensions with China could worsen. He also said most cryptocurrencies, except Bitcoin, are risky and based on hype, not real value.
AnaisThe United States Secret Service has partnered with Canadian law enforcement and securities regulators to launch a coordinated operation to dismantle a growing threat in the crypto space.
XingChiChina has seized large amounts of crypto from criminal cases and is using private firms to quietly sell them, despite its trading ban. Officials are now debating if the country should create formal rules—or even build a national reserve—to manage these assets.
AnaisMay 22 is "Bitcoin Pizza Day," commemorating the historic event in 2010 when 10,000 bitcoins were used to purchase two Papa John's pizzas. From $41 worth of pizza to $700 million in wealth, Bitcoin's price surge over the past 15 years has proven it to be the best-performing financial asset in history.
MiyukiBitcoin's price has been soaring since its launch in 2008. Early investors are now reaping returns in the millions of dollars. Nevertheless, its volatility and regulatory uncertainty remain significant risks for investors.
BerniceA trader turned $900 into $3.47 million in five days by trading Solana's meme token ANALOS, achieving a profit over 3,800 times their initial investment.
AlexMATIC, the native cryptocurrency of Polygon, has recently gained traction, showing a 50% increase in price surge in the last 20 days, amid the optimistic trend circling the cryptocurrency market due to the recently finished Uptober rally.
BitcoinworldSingapore's MAS minister said banks in the country have "insignificant" exposure to crypto.
OthersWhile Bitcoin fell below $20k today, Ethereum managed to keep support around the $1,300 mark.
NulltxAccording to Breedlove, his model places Bitcoin to trade at $12.5 million by 2031, a value equivalent to $1 million based on today’s purchasing power.
FinboldThe top cryptocurrency by market value rose over 5% to $20,350, according to CoinDesk data.
CoindeskThe Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty.
CointelegraphThe U.S. dollar index could rally further in the coming weeks, which is typically bad news for Bitcoin.
Cointelegraph
