đWeekly Crypto News Roundupâđ
đžBitcoin Surges Amid China's Stimulus and U.S. Rate Cutsđ
Bitcoin soared past $65,000, driven by easing U.S. and Chinese monetary policies, along with increased on-chain activity. Analysts predict a potential rally to $70,000, with institutional interest intensifying due to Bitcoin's reduced volatility.
đ€ŻBlackRock and Grayscale Control Nearly 3% of Bitcoin Supplyđ
BlackRock's Bitcoin holdings hit $23.7 billion, reflecting growing institutional interest as its Bitcoin ETF sees strong inflows. Alongside Grayscale, the two asset managers now hold nearly 3% of the total circulating Bitcoin supply, reinforcing the dominance of institutional players in the market.
đ°Bitcoin Bulls Eye $75Kđ„
With a three-week winning streak and massive call-buying activity, Bitcoin bulls are eyeing the $75,000 mark, with further momentum expected. This positive outlook stems from Chinaâs liquidity measures and strong ETF inflows, creating a bullish market sentiment.
đČEthereum Staking Yields to Outpace U.S. Ratesđ±
Ethereum staking yields are set to exceed U.S. interest rates, potentially driving more investment into ETH. The expected rise in staking returns, coupled with falling rates, could further bolster Ethereum prices as investors seek higher yields.
đąPayPal Expands Crypto Capabilities for U.S. Businessesđ
PayPal now allows U.S. merchants to buy, hold, and sell crypto directly from their business accounts.
đ€Tornado Cash Case Moves to Trialđźââïž
The U.S. governmentâs case against Tornado Cash co-founder Roman Storm will proceed to a jury trial, as a federal judge rejected motions to dismiss charges related to money laundering and sanctions violations.
âŹBhutan Mines Millions in Bitcoinđ
The Kingdom of Bhutan continues to generate significant revenue from Bitcoin mining, producing up to 75 BTC ($4.9 million) weekly.
