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Al Etihad
14-07-2025
- Business
- Al Etihad
Bitcoin climbs to record $123,000 as US to debate crypto rules
14 July 2025 14:20 SINGAPORE (REUTERS)Bitcoin surpassed $120,000 for the first time on Monday, marking a milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins for the industry this scaled a record high of $123,153.22 before pulling back slightly to trade 2.4% higher around $122, in the day, the US House of Representatives will debate a series of bills to provide the digital asset industry with the nation's regulatory framework it has long demands have resonated with US President Donald Trump, who has called himself the "crypto president" and urged policymakers to revamp rules in favour of the surge in bitcoin, which is up 30% so far this year, has sparked a broader rally across other cryptocurrencies over the past few sessions even in the face of Trump's tariff the second-largest token, scaled a more than five-month peak of $3,059.60, while XRP and Solana gained about 3% sector's total market value has swelled to about $3.81 trillion, according to data from CoinMarketCap."What we find interesting and are watching closely are the signs that bitcoin is now being seen as a long-term reserve asset, not just by retail investors and institutions but even some central banks," said Gracie Lin, crypto exchange OKX's Singapore CEO."We're also seeing increasing participation from Asia-based investors, including family offices and wealth managers. These are strong signs of bitcoin's role in the global financial system and the structural shift in how it is perceived, suggesting that this isn't just another hype-driven rally," Lin this month, Washington declared the week of July 14 as "crypto week," during which members of Congress are set to vote on the Genius Act, the Clarity Act, and the Anti-CBDC Surveillance State most significant bill is the Genius Act, which would create federal rules for stablecoins. Elsewhere, prices of crypto stocks and exchange traded funds advanced.
Economic Times
27-05-2025
- Business
- Economic Times
Crypto Prices Today: Bitcoin slips below $110,000 amid profit booking; Altcoins fall up to 5%
Bitcoin price today: Traders are monitoring macro developments such as the delayed U.S. tariffs on EU imports and potential crypto regulations. Bitcoin price today: Bitcoin slipped below $110,000 amid profit booking, while altcoins declined up to 5%, reflecting cautious sentiment. Despite short-term weakness, institutional interest remains strong with steady ETF inflows and major purchases. Analysts view the dip as consolidation, with BTC support at $105,200 and resistance at $111,000. Market watchers are also eyeing regulatory developments and FTX-related liquidity events. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Ethereum 2,23,745 ( 1.92 %) Buy BNB 58,219 ( 1.41 %) Buy Tether 85.42 ( 0.37 %) Buy Bitcoin 93,68,394 ( 0.12 %) Buy XRP 197.23 ( -1.45 %) Buy Bitcoin and other major cryptocurrencies were trading lower on Tuesday, reflecting cautious sentiment among traders despite continued institutional interest in the digital asset of 12:49 PM IST, Bitcoin dropped 0.7% to $1,09,153, after briefly touching a high of $110,376. Ethereum also edged lower, down 0.11% to $2,583. The global cryptocurrency market capitalisation declined by 1% to $3.42 trillion, according to CoinMarketCap.'Bitcoin briefly reclaimed the $110,000 mark before seeing some profit-taking at higher levels,' said Alankar Saxena, Co-founder and CTO of Mudrex. He added that despite the dip, market makers remain confident as Bitcoin options trade at a negative 6%—a pattern typically seen in bullish conditions. BTC faces resistance at $111,000 and support around $105,200, he Thakral, CEO of BuyUcoin, echoed the sentiment, saying, 'The reason for the current dip might be profit booking by short-term traders who liquidated their positions to create fresh ones.'Despite the short-term weakness, analysts pointed to sustained institutional interest. Vikram Subburaj, CEO of Giottus, noted that while Bitcoin triggered $185 million in long liquidations on Binance in the past week, 'spot ETF inflows remain strong' and options data 'point to a market driven by demand and not leverage.''Recent moves like Strategy's $427 million Bitcoin purchase and JPMorgan opening access to Bitcoin ETFs signal growing institutional conviction,' he Exchange Research Analyst Riya Sehgal also highlighted continued ETF inflows. 'Bitcoin's uptrend remains intact with higher highs and higher lows. The market is consolidating near the $110,000 level, awaiting a decisive breakout or breakdown. Meanwhile, Ethereum is range-bound between $2,450 and $2,750,' she traded broadly in the red. Solana dropped 2.2%, Cardano 1.2%, Dogecoin 1.4%, Sui 5.2%, Avalanche 1.6%, XRP 2.6%, and Hyperliquid 4.4%.Bitcoin's dominance rose to 63.2%, with its market cap at $2.169 trillion. Daily trading volume, however, jumped 10.6% to $49.19 to the cautious sentiment, traders are monitoring macro developments such as the delayed U.S. tariffs on EU imports and potential crypto regulations. 'The U.S. Senate is expected to vote on the GENIUS Act, which could influence innovation in the sector,' said second round of repayments could also inject liquidity into the market, potentially boosting trading activity.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
