Bitcoin at all-time high amid ‘Crypto Week': What does it mean?
The rally comes amid a stock market tumble due to trade and tariff tensions caused by US President Donald Trump's tariff letters to more than 20 countries. It also breaks a two-month lean period for the cryptocurrency market, as Ether climbed above $3,000 for the first time since February.
But what has led to a sudden bull run in Bitcoin and the wider cryptocurrency circle, and how do the option traders view its future?
Bitcoin breaking its all-time high amid tariff tensions
The Bitcoin surge comes just before 'Crypto Week,' when the US Congress will consider three major bills impacting regulations in the cryptocurrency market.
The GENIUS Act would enable private companies to issue stablecoins. Donald Trump has already voiced his support for the bill through social media, and the Senate has cleared it. The House of Representatives is also expected to consider the Digital Asset Market Clarity Act, which would establish a framework for cryptocurrency regulation.
The CBDC Anti-Surveillance State Act, which would prevent the Federal Reserve from issuing a central bank digital currency, is also expected to be discussed. The three bills represent a dramatic shift in policy around cryptocurrency after Trump took office in January this year.
For years, unclear rules and hostile regulations in the US drove cryptocurrency companies out of the country. Now, the mood seems to be shifting as regulators move towards clearer oversight.
'We expect the capital that was previously sidelined due to regulatory uncertainty to re-enter. Even if final passage stalls, the optics of legislative engagement are bullish,' said Jag Kooner of Bitfinex.
Option traders are so bullish about the market that they are now targeting Bitcoin to breach the $150,000 mark.
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Time of India
17 minutes ago
- Time of India
Bitcoin creator Satoshi Nakamoto is now worth $129 billion and ranks as the 11th richest man in the world
Source: X The mystery behind Bitcoin's creator has once again captured global attention this time, not for innovation, but for wealth. The elusive individual or group behind the pseudonym Satoshi Nakamoto, credited with launching the original Bitcoin white paper in 2008 and mining the first Bitcoin block in 2009, is now reportedly the 11th richest person on Earth. As reported by Arkham , Nakamoto's estimated holdings of 1.096 million BTC are currently valued at a staggering $128.92 billion, placing them ahead of tech magnate Michael Dell, whose net worth stands at $124.8 billion according to Forbes . Despite these astronomical figures, the true identity of the Bitcoin founder remains unknown, continuing one of the greatest whodunits in tech and finance history. Who is Satoshi Nakamoto Since the rise of Bitcoin, many have speculated on the identity of Satoshi Nakamoto. While names like Hal Finney (a cryptographic pioneer), Nick Szabo (a smart contract visionary), and even public figures like Elon Musk and Jack Dorsey have been floated, all have denied any involvement in Bitcoin's creation. One of the most controversial claims came from Australian computer scientist Craig Wright, who repeatedly asserted he was Nakamoto. However, in 2024, the UK High Court ruled against Wright, convicting him of false claims and 'legal terrorism.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo He received a 12-month suspended prison sentence and was legally barred from continuing to claim authorship of Bitcoin. Mystery of Bitcoin creator Satoshi Nakamoto deepens Despite several investigative efforts, Satoshi Nakamoto's true identity has never been confirmed. From tech forums to financial exposés, the pursuit to unmask Bitcoin's founder has captivated journalists, cryptographers, and filmmakers alike. The 2024 HBO documentary 'Money Electric: The Bitcoin Mystery,' directed by Cullen Hoback, added another layer to the intrigue. In the film, Hoback confronts cryptographer Peter K. Todd, who also denies being Nakamoto. The mystery remains unresolved. Records suggest that Nakamoto remained active online communicating through forums and emails until spring 2011, when all contact abruptly ceased. According to reports by the New York Post, Nakamoto claimed to be a 37-year-old man living in Japan, yet their activity patterns are more closely aligned with UK daylight hours. Bitcoin's growth highlights Nakamoto's brilliance Experts also observed Nakamoto's programming proficiency, particularly in C++, indicating a high level of technical expertise. In his book 'The Mysterious Mr. Nakamoto: A Fifteen-Year Quest to Unmask the Secret Genius Behind Crypto,' journalist Benjamin Wallace described Satoshi as an 'elusive figure who might or might not exist', as reported by The New York Post . Initially, Nakamoto was just a quiet coder appealing to a fringe community of cypherpunks and technologists. But by 2022, Bitcoin had grown into the ninth most valuable asset globally, positioned just below Tesla and above Meta, signaling its explosive mainstream acceptance and Nakamoto's financial ascent. Satoshi Nakamoto statue becomes a symbol of crypto ideals Beyond wealth, Satoshi Nakamoto has become a symbol of decentralization and anonymity. In a striking homage, a bronze statue of a hooded Nakamoto was erected in Graphisoft Park, Budapest, in Hungary—celebrating a person whose face the world has never seen. 'The statue represents a general human figure, since we do not know the gender, race, age, or height of the mysterious developer,' says The polished bronze-aluminum face reflects the image of whoever stands in front of it, reinforcing the 'We Are All Satoshi' sentiment. This statue, created by sculptors Gergely Réka and Tamás Gilly, encapsulates the global and timeless appeal of Nakamoto's vision, a financial system free from centralized control. Legacy of Satoshi Nakamoto Though their identity remains shrouded in secrecy, Satoshi Nakamoto's legacy is undeniable. Bitcoin revolutionized digital finance, introduced the world to blockchain technology, and triggered an entirely new asset class—cryptocurrency. Today, as Nakamoto's estimated $128.92 billion fortune continues to grow with Bitcoin's value, the public remains captivated not just by the wealth, but by the enduring mystique of the invisible genius who started it all. Whether Nakamoto is a lone genius, a team of developers, or a pseudonymous ghost lost in history. Also Read | What is the New World Screwworm Fly and why the US has issued a livestock ban at the Mexico border
Mint
20 minutes ago
- Mint
Plunging dollar leaves American travelers with less buying power this summer
American tourists have grown accustomed to their dollars traveling well, too. This summer, they are getting a wake-up call. The ICE U.S. Dollar Index, which compares the U.S. currency to a basket of six others, just posted its worst first half of the year in more than 50 years. The dollar has tumbled 13% against the euro this year and 6% against the Japanese yen. It is a stark reversal of the conditions that greeted American travelers and investors as recently as 2024, when a strong dollar lifted their purchasing power on imported goods, triggered a travel boom and fueled talk of America's economic dynamism. That was before the Trump administration's trade policies, concerns over the growing national debt and the shrinking gap between interest rates in the U.S. and other major economies began to weigh on the dollar. Many expect the world's reserve currency to drop further. And while its decline has made exports cheaper (a boon to U.S.-based industry) and opened opportunities for Americans to invest in foreign stocks, it has made traveling overseas more costly than it has been in years. So far, many travelers are still packing their bags. A quarter of U.S. consumers surveyed in May by Deloitte planned to travel internationally over the following three months. That share had been mostly steady in each month since January and sits slightly higher than it did in May 2023 or May 2024. Albert Tartaglia left for Spain on Sunday. His family enjoys honey from around the world, and he stocked up when he was last there in 2022. 'I was just buying things to bring home—no thinking," said Tartaglia, a 45-year-old accountant in Indianapolis. Now that the exchange rate isn't so sweet, he said he 'might be inclined to limit what we get." A decade of a persistently strong dollar has been a scourge for multinational American companies. When the dollar surged in the fourth quarter of last year, American corporate giants like Apple and took a significant earnings hit. A stronger dollar makes American exports more expensive to buyers and erodes profits from overseas units when converted back to dollars. Now, exchange rates are expected to be a boost for multinational companies as earnings season kicks off in earnest this week. More than 40% of revenue from S&P 500 companies comes from international sales, and losses on currency conversions have been a consistent source of write-downs for U.S. companies for years. 'Exporters should really benefit from this," said Lori Heinel, chief investment officer at $4.7 trillion asset manager State Street Investment Management. A falling dollar also makes foreign stocks more attractive for Americans, who benefit from currency appreciation in addition to capital gains in their international stock funds. After years of underperforming the U.S., international-stock benchmarks have been on a tear in 2025. For American buyers of foreign stocks, the weaker currency is making those gains even better. Foreign stocks typically need to be bought in the local currency, which can lead to a double-whammy of currency and stock gains when converted back into dollars. Through July 3, an MSCI index of global stocks excluding the U.S. generated a dollar return of 19%, almost half of which came from currency gains. That has been a tailwind for index-fund investors: Vanguard's total international fund is up 17% this year, almost tripling the S&P 500's 6.4% gain. Many Americans have a higher exposure to U.S. stocks than advisers recommend, due to both preference and a lack of rebalancing after years of U.S. outperformance. J.P. Morgan Asset Management's chief global strategist David Kelly has been urging clients to diversify portfolios beyond the U.S. and thinks now is an opportune time to do so. 'The fundamentals have been gradually deteriorating beneath the economy of the dollar," Kelly said. 'If we get some shock, the potential for a big dollar decline or big market decline is there, and people should be diversified with international stocks to deal with that." The weaker greenback's positive investment implications are little solace to travelers. An unfavorable exchange rate recently led Brandon Lowery to sample the menu at a Scottish McDonald's. The 46-year-old's family of four went there for dinner while on vacation last month to avoid another restaurant bill of about £35 to £50, or roughly $50 to $70. He said that a chicken sandwich with pickled onion chutney, not available at the chain's U.S. locations, was 'really good." Lowery, a community-college professor in the Houston area, checked the exchange rate while planning the trip in February, when £1 was worth about $1.25. He realized on day two of the 11-day trip that a pound's value had risen to about $1.35. 'For four people, that little percentage increase starts to tick up whenever it hits the credit card," he said. Trish Smith, a travel adviser in Kansas City, Mo., said her clients haven't been deterred by a weaker dollar. She said younger travelers want to visit 'trending" destinations such as Bali and Japan while they are still hot, and older ones aren't about to alter vacations they have been planning for years. 'A lot of times, they are like, 'It's a bucket-list trip—we're going anyway,'" Smith said. Write to Jack Pitcher at and Joe Pinsker at
Time of India
23 minutes ago
- Time of India
Bitcoin price soars past $120K — but will it break $130K next? Here's what experts think
Bitcoin has surged past the $120,000 mark, touching new all-time highs (around $122,300–$122,600) in recent sessions . This rally is driven largely by institutional inflows and regulatory optimism. In particular, several key bills, including the GENIUS Stablecoin Act and CLARITY Act, are advancing through the U.S. Congress, fueling anticipation of clearer crypto regulation. Additionally, President Donald Trump's administration has bolstered confidence by signing an executive order to establish a Strategic Bitcoin Reserve and digital asset stockpile . Reason 1: Dealer Gamma Forces Price Pinning Options market makers hold long gamma positions around strike levels of $120,000–$130,000 for expirations in late July and August, according to Deribit data tracked by Amberdata. This neutral hedging behavior, buying during dips and selling during rallies, serves to dampen volatility and tends to keep BTC trapped within the range, as mentioned in a report by Coin Desk. Reason 2: Volatility Index (DVOL) Signals Correction Bitcoin's recent rally saw implied volatility, measured by Deribit's DVOL, drop even as prices climbed, a classic sign of complacency and bullish exhaustion. While DVOL has now stabilized around a bottom of ~36%, technical indicators like MACD hint at a potential uptick soon. If it rises, it could precede a short-term dip in spot BTC prices—adding weight to a near-term range bound prediction. Reason 3: U.S. Dollar Strength Could Cap Gains The U.S. Dollar Index (DXY) recently broke out of its downtrend, weakening past multiple-month support lines . A stronger dollar makes bitcoin, which is priced in USD, relatively more expensive and could limit further upward movement—especially over the short to medium term. Hidden Accumulation Hints at Upside Despite the sideways action, on-balance volume (OBV) for Bitcoin continues to trend higher—a divergence that historically precedes stronger breakthroughs. The same pattern during March–April preceded a 57% surge in BTC price . What to Expect: Sideways for Now—with Breakout Potential Technical outlook: Range Scenario $120K–$130K Likely consolidation zone, supported by options hedging and volatility dynamics Above $130K Breakout could seize momentum, fueled by continued institutional flow and legislative clarity Support zone $118,800 → $112,000 levels to watch if downside breaks occur Live Events Broader market sentiment remains bullish with forecasts indicating possible upside toward $140,000 or more—especially if new crypto regulation passes and investor confidence holds . Bottom Line While Bitcoin's price has shattered prior highs with strong backend momentum, underlying mechanics suggest it may consolidate within $120K–$130K in the coming weeks. Dealer gamma hedging, suppressed volatility indicators, and a strengthening dollar index all point to a period of sideways movement before the next leg up. That said, subtle signs like rising OBV and regulatory tailwinds mean breakout potential remains strong once the range gives way. FAQs What is the current price range for Bitcoin? As of the latest sessions, Bitcoin has climbed above $120,000, trading in the range of $122,300 to $122,600, marking a new all-time high. What is the role of implied volatility (DVOL) in predicting Bitcoin's next move? The DVOL index, which measures expected volatility, has dropped even as prices rose—signaling possible bullish exhaustion. A potential rise in DVOL could suggest a short-term correction or dip in BTC prices. Economic Times WhatsApp channel )
