Latest news with #AntoniTrenchev
Observer
22-05-2025
- Business
- Observer
Bitcoin surges to all-time peak as crypto sentiment improves
LONDON/NEW YORK: Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff. The world's largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody's downgrade of US sovereign debt which has prompted investors to seek alternative investment sources to the dollar. "Now that January's high has been surpassed – and the 50 percent upside from April's lows has been achieved – bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable US regulatory environment," Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment. Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq is up 30% from its early April low. That has also coincided with continued weakness in the dollar, a further boost for bitcoin's exchange rate against the US currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month, crypto exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday the US Department of Justice has opened a probe into a recent data breach at the company. "We're still in year four of the bitcoin price cycle – the year after the bitcoin halving when miner rewards are slashed in half – which historically means its best days are still ahead of it and – while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards," Trenchev said. Meanwhile, ether, the second-largest cryptocurrency, surprisingly did not rise in tandem with bitcoin. It was last down 0.5% at $2,513.— Reuters
The Sun
22-05-2025
- Business
- The Sun
Bitcoin surges to all-time peak as crypto sentiment improves
LONDON/NEW YORK: Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff. The world's largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody's downgrade of U.S. sovereign debt which has prompted investors to seek alternative investment sources to the dollar. 'Now that January's high has been surpassed - and the 50 percent upside from April's lows has been achieved - bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment,' Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment. Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq is up 30% from its early April low. That has also coincided with continued weakness in the dollar, a further boost for bitcoin's exchange rate against the U.S. currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month, crypto exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday the U.S. Department of Justice has opened a probe into a recent data breach at the company. 'We're still in year four of the bitcoin price cycle - the year after the bitcoin halving when miner rewards are slashed in half - which historically means its best days are still ahead of it and - while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards,' Trenchev said. Meanwhile, ether, the second-largest cryptocurrency, surprisingly did not rise in tandem with bitcoin. It was last down 0.5% at $2,513.
The Sun
22-05-2025
- Business
- The Sun
Bitcoin hits record high above $109k amid market optimism
LONDON/NEW YORK: Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff. The world's largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody's downgrade of U.S. sovereign debt which has prompted investors to seek alternative investment sources to the dollar. 'Now that January's high has been surpassed - and the 50 percent upside from April's lows has been achieved - bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment,' Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment. Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq is up 30% from its early April low. That has also coincided with continued weakness in the dollar, a further boost for bitcoin's exchange rate against the U.S. currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month, crypto exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday the U.S. Department of Justice has opened a probe into a recent data breach at the company. 'We're still in year four of the bitcoin price cycle - the year after the bitcoin halving when miner rewards are slashed in half - which historically means its best days are still ahead of it and - while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards,' Trenchev said. Meanwhile, ether, the second-largest cryptocurrency, surprisingly did not rise in tandem with bitcoin. It was last down 0.5% at $2,513.
India Today
22-05-2025
- Business
- India Today
Explained: Why bitcoin has hit a fresh all-time high
Bitcoin surged to a new record on Wednesday, touching $1,11,447.70, surpassing its previous peak from January. The world's most valuable cryptocurrency has gained over 50% since April, propelled by improving global risk appetite and a flight to alternatives as doubts grow over the US dollar's rally comes in the wake of easing trade tensions between the United States and China, and a fresh blow to the greenback's credibility after Moody's downgraded US sovereign debt. The downgrade has driven a wave of capital into non-dollar assets, including gold, tech stocks—and now, has entered blue sky territory,' said Antoni Trenchev, co-founder of crypto platform Nexo. 'There's strong institutional momentum, and the regulatory environment in the US has turned notably more favourable.' Bitcoin's performance is increasingly mirroring that of tech stocks, which tend to benefit from positive investor sentiment. The Nasdaq is up 30% from its early April low, and Bitcoin is riding the same optimism wave, further buoyed by a weakening US to the bullish mood is the growing presence of traditional finance players in crypto. This week, JPMorgan CEO Jamie Dimon—a longtime crypto sceptic—confirmed the bank would allow clients to buy bitcoin. Earlier this month, Coinbase was officially added to the S&P 500, a landmark moment for the a data breach at Coinbase currently being probed by the US Department of Justice, investor interest in crypto remains say Bitcoin's recent breakout also aligns with its historical price cycle. 'We're in year four of the Bitcoin halving cycle—the year when prices usually peak,' Trenchev said. 'If past patterns hold, a target of $150,000 in 2025 is still firmly in play.'In contrast, Ether, the second-largest cryptocurrency, failed to mirror Bitcoin's gains and was last down 0.5% at $2, breakout reflects not just crypto optimism, but a broader shift in global capital flows. For now, the bulls are firmly in controlMust Watch
Indian Express
22-05-2025
- Business
- Indian Express
Bitcoin surges to all-time peak as crypto sentiment improves
Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff. The world's largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody's downgrade of U.S. sovereign debt which has prompted investors to seek alternative investment sources to the dollar. 'Now that January's high has been surpassed – and the 50 percent upside from April's lows has been achieved – bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment,' Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment. Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq is up 30% from its early April low. That has also coincided with continued weakness in the dollar, a further boost for bitcoin's exchange rate against the U.S. currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month, crypto exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday the U.S. Department of Justice has opened a probe into a recent data breach at the company. 'We're still in year four of the bitcoin price cycle – the year after the bitcoin halving when miner rewards are slashed in half – which historically means its best days are still ahead of it and – while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards,' Trenchev said. Meanwhile, ether, the second-largest cryptocurrency, surprisingly did not rise in tandem with bitcoin. It was last down 0.5% at $2,513.
