Latest news with #NicPuckrin
Yahoo
7 days ago
- Business
- Yahoo
Why Are Bitcoin, Ethereum, XRP, Dogecoin Suddenly Skyrocketing?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Cryptocurrency markets are off to a blazing start on Monday morning, with Bitcoin making a new all-time high above $123, Ticker Price Bitcoin (CRYPTO: BTC) $121,812.36 Ethereum (CRYPTO: ETH) $3,070.88 Solana (CRYPTO: SOL) $167.48 XRP (CRYPTO: XRP) $2.99 Dogecoin (CRYPTO: DOGE) $0.2069 Shiba Inu (CRYPTO: SHIB) $0.00001383 Notable Statistics: IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 14.7% and 7.9%, respectively. Daily active addresses dropped by 5.6% and 3.6%, respectively. Coinglass data shows129,769 traders were liquidated in the past 24 hours for $750.05 million. SoSoValue data shows net inflows of $1.03 billion into spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $204.8 million. Trader Notes: CoinBureau co-founder Nic Puckrin highlighted the importance of Bitcoin breaching a 7-year-long monthly resistance trendline, which acted as the ceiling in past bull markets dating back to 2018. Trending: Tired of Grid Failures and Charging Deserts? This Startup Has a Solar Fix and $25M+ in Sales — Rekt Capital says a convincing breakout above $124,000 would open the floodgates for Bitcoin, triggering rapid price discovery with little resistance above. Michael van de Poppe forecasts rising volatility, with sharp dips likely to be absorbed quickly. He believes the next major leg to $250,000 has begun, projecting $150,000 by Q3. Cryptoinsightuk explained that a break above $3.00 for XRP could unlock a move to all-time highs and initiate price discovery. The current price action is pressing against the final major resistance. Crypto trader Jelle noted Ethereum finally broke above the $2,800 resistance, flipping it into support. With momentum now shifting upward, the next key target is $4,000, as minimal resistance remains in that zone. Jelle shared a bold outlook, stating $600 is the long-term target for SOL, as the broader market rally gains traction. Crypto trader CW pointed out that DOGE has broken its first sell wall and is approaching the next resistance zone between $0.24–$0.26, signaling further upside Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article Why Are Bitcoin, Ethereum, XRP, Dogecoin Suddenly Skyrocketing? originally appeared on
Yahoo
11-07-2025
- Business
- Yahoo
Bitcoin Hits New Highs: 6 Reasons Why the ETF Rally Could Continue
Bitcoin soared to a new all-time high on July 11, 2025, surpassing $117,000, driven by bullish momentum in risk assets. This rally mirrors the rise of tech giants like NVIDIA NVDA, which recently hit a $4 trillion valuation, highlighting Bitcoin's ongoing correlation with tech. As the Nasdaq Composite hit record levels and the S&P 500 followed closely behind, Bitcoin also benefitted from favorable policy signals and tightening supply. No wonder, Bitcoin-based exchange-traded fund iShares Bitcoin Trust ETF IBIT is up 15% this year. The fund gained 4.3% past month. Crypto analyst Nic Puckrin emphasized that Bitcoin normally tracks tech stock performance, and its recent performance reflected a pressure release more than a full-scale bull run, as quoted on Yahoo Finance. Over the past two months, Bitcoin maintained an unusually tight $10,000 range, setting the stage for this breakout. Bitcoin's breakout also came just before Congress kicked off its 'Crypto Week' on July 14, where lawmakers will debate key regulations that could shape the future of the industry. Among them is the GENIUS Act, which aims to establish a federal stablecoin framework, mentioned on the above-mentioned Yahoo Finance article. A positive outcome from the meeting may boost institutional inflows into Bitcoin, further reinforcing its status as a macroeconomic asset. Shares of Circle CRCL, the issuer of USDC, rose 2% on Thursday and are now up more than 500% since their June 5 IPO. Trading platforms like Robinhood HOOD and Coinbase COIN also saw gains. While the SPDR S&P 500 ETF Trust SPY gained 7% this year, Bitcoin gained 26.4% (as of July 11, 2025), showing strength amid tariff-led uncertainty. Federal Reserve Chair Jerome Powell has referred to Bitcoin as 'virtual and digital gold,' while investor Ray Dalio recommended investing in hard assets like Bitcoin to weather potential debt crises (read: Is Bitcoin the Digital Gold? ETFs in Focus). Bitcoin is widely seen as a hedge against inflation, thanks to its fixed supply cap of 21 million coins. As governments ramp up fiat issuance and Trump's import tariffs may raise inflation globally, Bitcoin's scarcity may help it retain value better than traditional currencies. Once led by MicroStrategy MSTR, corporate Bitcoin adoption is spreading. Companies like GameStop GME, Semler Scientific, and Rumble RUM have started adding Bitcoin to their balance sheets, creating increased demand and institutional Sachs, one of the world's largest investment banks, significantly increased its Bitcoin exchange-traded fund (ETF) holdings in early 2025 (read: Goldman Sachs Expands Bitcoin ETF Holdings: Should You?). Despite recent hawkish tones, signs point to potential rate cuts later this year. Fed Governor Christopher Waller, a potential candidate to succeed Powell, stated that the Fed might consider a rate cut in July, arguing the inflation effects from tariffs are likely temporary. Other Fed officials like Mary Daly and Michelle Bowman also leaned toward dovish stances, with calls for up to two cuts this year. Trump has consistently advocated for rate cuts, stating the Fed should 'rapidly lower the rate.'Lower rates normally favor risk-on assets like Bitcoin by reducing the opportunity cost of holding non-yielding assets. Bitcoin miners like Bitfarms are evolving. Originally focused on mining, they are now leveraging their power-dense data centers to tap into the booming AI infrastructure market. CEO Geoff Morphy explained that AI-related data centers are more profitable, often trading at 20–30x earnings, compared to 3–5x for Bitcoin mining companies (read: Crypto ETFs in Focus as Bitcoin Mining Boosts AI Infrastructure). As NVIDIA's dominance in AI grows, so does the need for scalable infrastructure. Bitcoin miners, known for building massive facilities, are well-positioned to meet AI's rising energy and space demands. Morphy emphasized that companies like Bitfarms offer the scale and energy understanding necessary for the next generation of AI computing. Issuers have introduced various tools to make a high-risk asset like Bitcoin more accessible and appealing to risk-averse investors. Calamos, has launched a suite of Bitcoin buffer ETFs: Bitcoin Structured Alt Protection ETF – January CBOJ, Bitcoin 90 Series Structured Alt Protection ETF – January CBXJ and Bitcoin 80 Series Structured Alt Protection ETF – January CBTJ. Innovator also launchedthe Uncapped Bitcoin 20 Floor ETF - Quarterly QBF, the first ETF offering uncapped exposure to Bitcoin's upside potential while simultaneously capping downside losses. These products some downside protection amid extreme volatility. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report GameStop Corp. (GME) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports MicroStrategy Incorporated (MSTR) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report Rumble Inc. (RUM) : Free Stock Analysis Report Circle Internet Group, Inc. (CRCL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
11-07-2025
- Business
- Globe and Mail
Bitcoin Hits New Highs: 6 Reasons Why the ETF Rally Could Continue
Bitcoin soared to a new all-time high on July 11, 2025, surpassing $117,000, driven by bullish momentum in risk assets. This rally mirrors the rise of tech giants like NVIDIA NVDA, which recently hit a $4 trillion valuation, highlighting Bitcoin's ongoing correlation with tech. As the Nasdaq Composite hit record levels and the S&P 500 followed closely behind, Bitcoin also benefitted from favorable policy signals and tightening supply. No wonder, Bitcoin-based exchange-traded fund iShares Bitcoin Trust ETF IBIT is up 15% this year. The fund gained 4.3% past month. Crypto analyst Nic Puckrin emphasized that Bitcoin normally tracks tech stock performance, and its recent performance reflected a pressure release more than a full-scale bull run, as quoted on Yahoo Finance. Over the past two months, Bitcoin maintained an unusually tight $10,000 range, setting the stage for this breakout. Crypto Policy Tailwinds: Congress and Regulation Bitcoin's breakout also came just before Congress kicked off its 'Crypto Week' on July 14, where lawmakers will debate key regulations that could shape the future of the industry. Among them is the GENIUS Act, which aims to establish a federal stablecoin framework, mentioned on the above-mentioned Yahoo Finance article. A positive outcome from the meeting may boost institutional inflows into Bitcoin, further reinforcing its status as a macroeconomic asset. Shares of Circle CRCL, the issuer of USDC, rose 2% on Thursday and are now up more than 500% since their June 5 IPO. Trading platforms like Robinhood HOOD and Coinbase COIN also saw gains. Bitcoin as a Resilient Hedge Amid Market Turmoil While the SPDR S&P 500 ETF Trust SPY gained 7% this year, Bitcoin gained 26.4% (as of July 11, 2025), showing strength amid tariff-led uncertainty. Federal Reserve Chair Jerome Powell has referred to Bitcoin as 'virtual and digital gold,' while investor Ray Dalio recommended investing in hard assets like Bitcoin to weather potential debt crises (read: Is Bitcoin the Digital Gold? ETFs in Focus). Inflation and Bitcoin's Limited Supply Bitcoin is widely seen as a hedge against inflation, thanks to its fixed supply cap of 21 million coins. As governments ramp up fiat issuance and Trump's import tariffs may raise inflation globally, Bitcoin's scarcity may help it retain value better than traditional currencies. Corporate and Institutional Bitcoin Adoption Expands Once led by MicroStrategy MSTR, corporate Bitcoin adoption is spreading. Companies like GameStop GME, Semler Scientific, and Rumble RUM have started adding Bitcoin to their balance sheets, creating increased demand and institutional Sachs, one of the world's largest investment banks, significantly increased its Bitcoin exchange-traded fund (ETF) holdings in early 2025 (read: Goldman Sachs Expands Bitcoin ETF Holdings: Should You?). Rate Cuts Could Favor Risk-On Assets Like Bitcoin Despite recent hawkish tones, signs point to potential rate cuts later this year. Fed Governor Christopher Waller, a potential candidate to succeed Powell, stated that the Fed might consider a rate cut in July, arguing the inflation effects from tariffs are likely temporary. Other Fed officials like Mary Daly and Michelle Bowman also leaned toward dovish stances, with calls for up to two cuts this year. Trump has consistently advocated for rate cuts, stating the Fed should 'rapidly lower the rate.'Lower rates normally favor risk-on assets like Bitcoin by reducing the opportunity cost of holding non-yielding assets. Bitcoin Miners Pivot to AI Infrastructure Bitcoin miners like Bitfarms are evolving. Originally focused on mining, they are now leveraging their power-dense data centers to tap into the booming AI infrastructure market. CEO Geoff Morphy explained that AI-related data centers are more profitable, often trading at 20–30x earnings, compared to 3–5x for Bitcoin mining companies (read: Crypto ETFs in Focus as Bitcoin Mining Boosts AI Infrastructure). As NVIDIA's dominance in AI grows, so does the need for scalable infrastructure. Bitcoin miners, known for building massive facilities, are well-positioned to meet AI's rising energy and space demands. Morphy emphasized that companies like Bitfarms offer the scale and energy understanding necessary for the next generation of AI computing. Safe Bitcoin ETFs for Risk Averse Investors Issuers have introduced various tools to make a high-risk asset like Bitcoin more accessible and appealing to risk-averse investors. Calamos, has launched a suite of Bitcoin buffer ETFs: Bitcoin Structured Alt Protection ETF – January CBOJ, Bitcoin 90 Series Structured Alt Protection ETF – January CBXJ and Bitcoin 80 Series Structured Alt Protection ETF – January CBTJ. Innovator also launched the Uncapped Bitcoin 20 Floor ETF - Quarterly QBF, the first ETF offering uncapped exposure to Bitcoin's upside potential while simultaneously capping downside losses. These products some downside protection amid extreme volatility. Want key ETF info delivered straight to your inbox? Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report GameStop Corp. (GME): Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports MicroStrategy Incorporated (MSTR): Free Stock Analysis Report Coinbase Global, Inc. (COIN): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report Rumble Inc. (RUM): Free Stock Analysis Report Circle Internet Group, Inc. (CRCL): Free Stock Analysis Report
Yahoo
11-07-2025
- Business
- Yahoo
Bitcoin surges to new highs above $118,000 as investors go risk on
Bitcoin (BTC-USD) vaulted to a fresh all-time high Friday, breaking above $118,000 amid a wave of bullish momentum across risk assets. The token's price action coincides with AI giant Nvidia's (NVDA) surge to a $4 trillion valuation, highlighting crypto's tie with tech. The tech-heavy Nasdaq Composite (^IXIC) hit a fresh record on Wednesday, and the S&P 500 (^GSPC) was headed that way on Thursday. "Historically, Bitcoin has remained highly correlated with tech stocks, and this correlation is still playing out," Nic Puckrin, crypto analyst and founder of the Coin Bureau, wrote on Thursday morning. Read more: Can you buy crypto with a credit card? See the pros and cons. Year to date, the token is up roughly 21%, buoyed in part by crypto-friendly policies from the Trump administration, including the establishment of a strategic bitcoin reserve and a broader digital asset stockpile. Over the past two months, bitcoin has traded within a tight $10,000 range — an unusually stable period given its historical volatility. "If BTC makes a convincing break through the ATH level, then further profit taking can be expected around the $115,000 mark," Puckrin wrote. "Either way, this isn't the big final rally everyone is waiting for, simply a quick release of the pressure that had been building up." The timing of bitcoin's breakout also comes days before Congress kicks off its highly anticipated "Crypto Week" on July 14. Lawmakers will debate a series of bills that could define the industry's regulatory framework. "A favorable outcome could accelerate institutional inflows, reinforcing Bitcoin's role as a macro asset and strengthening confidence in compliant crypto platforms," said Jesse Jarvis, CEO of Kaiko, a cryptocurrency market data provider. The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins. Shares of Circle (CRCL), the issuer of stablecoin USDC (USDC-USD), were up roughly 2% on Thursday. The stock is up more than 500% from its June 5 IPO. Trading platforms Robinhood (HOOD) and Coinbase (COIN) were also higher during Thursday's session. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Yahoo
11-07-2025
- Business
- Yahoo
Bitcoin surges to new highs above $117,000 as investors go risk on
Bitcoin (BTC-USD) vaulted to a fresh all-time high Friday, breaking above $117,000 amid a wave of bullish momentum across risk assets. The token's price action coincides with AI giant Nvidia's (NVDA) surge to a $4 trillion valuation, highlighting crypto's tie with tech. The tech-heavy Nasdaq Composite (^IXIC) hit a fresh record on Wednesday, and the S&P 500 (^GSPC) was headed that way on Thursday. "Historically, Bitcoin has remained highly correlated with tech stocks, and this correlation is still playing out," Nic Puckrin, crypto analyst and founder of the Coin Bureau, wrote on Thursday morning. Read more: Can you buy crypto with a credit card? See the pros and cons. Year to date, the token is up roughly 21%, buoyed in part by crypto-friendly policies from the Trump administration, including the establishment of a strategic bitcoin reserve and a broader digital asset stockpile. Over the past two months, bitcoin has traded within a tight $10,000 range — an unusually stable period given its historical volatility. "If BTC makes a convincing break through the ATH level, then further profit taking can be expected around the $115,000 mark," Puckrin wrote. "Either way, this isn't the big final rally everyone is waiting for, simply a quick release of the pressure that had been building up." The timing of bitcoin's breakout also comes days before Congress kicks off its highly anticipated "Crypto Week" on July 14. Lawmakers will debate a series of bills that could define the industry's regulatory framework. "A favorable outcome could accelerate institutional inflows, reinforcing Bitcoin's role as a macro asset and strengthening confidence in compliant crypto platforms," said Jesse Jarvis, CEO of Kaiko, a cryptocurrency market data provider. The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins. Shares of Circle (CRCL), the issuer of stablecoin USDC (USDC-USD), were up roughly 2% on Thursday. The stock is up more than 500% from its June 5 IPO. Trading platforms Robinhood (HOOD) and Coinbase (COIN) were also higher during Thursday's session. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
