Bloomberg Markets 03/26/2025
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Bitcoin Nears Record as Treasury Investors Boost Crypto Market
(Bloomberg) — Bitcoin (BTC-USD) rose to within striking distance of an all-time high as demand from institutional investors and corporate treasury buyers lifts the wider market for digital assets. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms The original cryptocurrency advanced as much as 3.2% to top $122,000, not far shy of a previous record set in mid-July. A weekend rally saw Ether surge to above $4,300, its highest level since Dec. 2021. The gains come on the back of mounting interest in cryptocurrencies among large investors. So-called digital-asset treasury companies — listed vehicles that pivot into accumulating cryptocurrencies — have to date amassed a Bitcoin stockpile worth $113 billion, according to data compiled by Coingecko. Equivalent vehicles for Ether have stockpiled some $13 billion of the token so far, according to data. 'Bitcoin's climb toward record highs is being supported by steady institutional inflows into corporate treasuries, US spot ETFs and a shift in sentiment following new US tariffs on imported gold bars,' said Rachael Lucas, a crypto analyst at BTC Markets. 'With gold facing supply bottlenecks and policy risk, Bitcoin's role as a borderless, tariff-free store of value is gaining traction among investors.' Eric Trump, son of US President Donald Trump, who has financial interests in several digital-asset entities, applauded the Ether rally in a post on X. Bloomberg News reported Friday that investors are being sounded out on a plan for World Liberty Financial, the Trump family-backed venture, to set up a public company that would hold its WLFI tokens. Ether options markets reflected the bullish sentiment with an overall put-call ratio 0.40. The highest concentration of call options with a December 26 expiry is at $6,000, according to Deribit data. Bitcoin and Ether positioning has been heavily skewed toward September and December calls in line with macro rate-cut timing and continued adoption by the traditional financial system, said Sean McNulty, derivatives trading lead of APAC at digital-asset prime brokerage FalconX Ltd. For Bitcoin, the next major milestone is the previous all-time high of $123,205, while support for the token can be found near $116,000 if momentum fades, Lucas added. (Updates throughout) The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
Yahoo
an hour ago
- Yahoo
Bitcoin Nears Record as Treasury Investors Boost Crypto Market
(Bloomberg) — Bitcoin (BTC-USD) rose to within striking distance of an all-time high as demand from institutional investors and corporate treasury buyers lifts the wider market for digital assets. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms The original cryptocurrency advanced as much as 3.2% to top $122,000, not far shy of a previous record set in mid-July. A weekend rally saw Ether surge to above $4,300, its highest level since Dec. 2021. The gains come on the back of mounting interest in cryptocurrencies among large investors. So-called digital-asset treasury companies — listed vehicles that pivot into accumulating cryptocurrencies — have to date amassed a Bitcoin stockpile worth $113 billion, according to data compiled by Coingecko. Equivalent vehicles for Ether have stockpiled some $13 billion of the token so far, according to data. 'Bitcoin's climb toward record highs is being supported by steady institutional inflows into corporate treasuries, US spot ETFs and a shift in sentiment following new US tariffs on imported gold bars,' said Rachael Lucas, a crypto analyst at BTC Markets. 'With gold facing supply bottlenecks and policy risk, Bitcoin's role as a borderless, tariff-free store of value is gaining traction among investors.' Eric Trump, son of US President Donald Trump, who has financial interests in several digital-asset entities, applauded the Ether rally in a post on X. Bloomberg News reported Friday that investors are being sounded out on a plan for World Liberty Financial, the Trump family-backed venture, to set up a public company that would hold its WLFI tokens. Ether options markets reflected the bullish sentiment with an overall put-call ratio 0.40. The highest concentration of call options with a December 26 expiry is at $6,000, according to Deribit data. Bitcoin and Ether positioning has been heavily skewed toward September and December calls in line with macro rate-cut timing and continued adoption by the traditional financial system, said Sean McNulty, derivatives trading lead of APAC at digital-asset prime brokerage FalconX Ltd. For Bitcoin, the next major milestone is the previous all-time high of $123,205, while support for the token can be found near $116,000 if momentum fades, Lucas added. (Updates throughout) The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
