Latest news with #CoinMetrics
CNBC
3 days ago
- Business
- CNBC
Ether and trading stocks take the crypto spotlight as Congress passes historic stablecoin bill
Ether and other crypto related stocks climbed to end the week as the GENIUS Act heads to President Donald Trump's desk to be signed into law. Bitcoin and its proxies took a breather. The price of ether was last higher by 3.6% at $3,558.68, according to Coin Metrics, trading at highs not seen since January. On Thursday, ETFs tracking the price of ether saw daily inflows top those of bitcoin ETFs for the first time ever. The funds logged $602 million in net inflows, led by BlackRock's iShares Ethereum Trust (ETHA). Bitcoin ETFs on the same day saw inflows of $522 million. A day earlier, the ETH funds saw a single-day record inflow of $726.7 million. Stocks tied to crypto trading gained as well, with Coinbase and Robinhood each rising more than 4%. Ether treasury stock Bitmine Immersion continued its rally, jumping 12% Friday. Meanwhile, the price of bitcoin slipped 1%. Bitcoin treasury giant Strategy, formerly MicroStrategy, fell 4% and Mara Holdings, the mining company and bitcoin proxy, hovered under the flat line. Ether has advanced 19% this week, bringing its two week gain to about 43.6% — its strongest two-week period since August 2021. Bitcoin is down less than 1% for the week. On Thursday, BlackRock also filed with the SEC to include staking to its ETHA ether ETF, which also boosted sentiment for crypto's second largest coin.
CNBC
6 days ago
- Business
- CNBC
Bitcoin falls below $117,000 after Trump crypto bills are blocked before vote
Bitcoin fell below the $117,000 level on Tuesday after cryptocurrency-related bills were blocked in the House of Representatives. The price of bitcoin was last down 2.8% at $116,516.00, according to Coin Metrics. That marks a pullback from the day's high of $120,481.86. The drop comes on the heels of multiple crypto-related bills failing to overcome a procedural hurdle in the House, with 13 Republicans voting with Democrats to block the motion in a 196-223 vote. In recent days, bitcoin has been trading at all-time highs, spurred by institutional buying of bitcoin exchange-traded funds (ETFs) amid rising optimism that Congress would soon pass crypto legislation. Stocks linked to crypto also came under pressure in late afternoon trading. Shares of bitcoin miners Riot Platforms and Mara Holdings closed down 3.3% and 2.3%, respectively. Others like crypto trading platforms Coinbase slid 1.5%. All were under pressure in extended trading.
UPI
14-07-2025
- Business
- UPI
Bitcoin exceeds $120,000 before House 'Crypto Week'
Bitcoin hit a new milestone, exceeding past 120,000 on Monday as the House of Representatives addressed crypto related legislation. Photo by John Angelillo/UPI | License Photo July 14 (UPI) -- Bitcoin was trading above $120,000 on Monday as U.S. lawmakers were set to consider a series of crypto-related bills. As of 6:20 a.m. EDT, Bitcoin was trading at $121,921, according to data from Coin Metrics. "We believe that Bitcoin's surge is driven by longer-term institutional buyers and this will propel it to $125k in the next month or two," Jeff Mei, chief operating officer at cryptocurrency exchange BTSE, said in a statement. The U.S. The House of Representatives was set to begin looking at a trio potential laws this week, which it dubbed "Crypto Week." The legislation aims to regulate stablecoins, shifting crypto jurisdiction to the Commodity Futures Trading Commission and outlawing a Fed-issued central bank digital currency. "The mood in Washington has turned risk-on at least for digital assets as lawmakers load the legislative order book with three pro-crypto bills under the banner of 'Crypto Week,'" said Stephen Innes, of SPI Asset Management. "Like a breakout trade that's waited months for a clean catalyst, the industry is hoping this is the moment crypto sheds its legal ambiguity and steps onto firmer regulatory ground. But even the cleanest chart can turn into a bull trap if momentum stalls."
West Australian
14-07-2025
- Business
- West Australian
Bitcoin hits new record high: Crypto coin soars in value to over $180,000 fuelled by ETFs
Bitcoin extended a rally to rise to a new record above $US120,000 ($182,000) Monday, fuelled by a rally in bitcoin ETFs. The price of the largest cryptocurrency by market capitalisation briefly topped $US121,249.90, according to data from Coin Metrics. The rally has seen bitcoin reach new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their biggest day of inflows in 2025 at $US1.18 billion. 'We believe that Bitcoin's surge is driven by longer-term institutional buyers and this will propel it to $1US25k in the next month or two,' Jeff Mei, chief operating officer at cryptocurrency exchange BTSE, said in a statement sent to CNBC. 'Trump's trade disputes with the likes of the EU, Mexico, and other trading partners could cause dips in the week ahead, but it's likely that Bitcoin's institutional buyers are discounting this risk and maintaining their positions that Bitcoin will still appreciate in the long run,' he added. Investors have been anticipating bitcoin to hit new records this year as corporate treasuries accelerate their bitcoin buying sprees and US Congress nears the passing of new crypto legislation. The US House of Representatives will begin deliberating on a series of crypto bills on Monday aimed at providing a clearer regulatory framework for the digital asset industry. The policy had been long sought by the industry, and is supported by US President Donald Trump, who has branded himself as a pro-crypto President and is involved in several crypto ventures.
CNBC
14-07-2025
- Business
- CNBC
Bitcoin hits new all-time highs as it crosses past $120,000, fueled by ETF inflows
Bitcoin extended a rally to rise to a new record above $120,000 Monday, fueled by a rally in bitcoin ETFs. The price of the largest cryptocurrency by market capitalization briefly topped $121,249.90, according to data from Coin Metrics. The rally has seen bitcoin reach new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their biggest day of inflows in 2025 at $1.18 billion. Investors have been anticipating bitcoin to hit new records this year as corporate treasuries accelerate their bitcoin buying sprees and U.S. Congress nears the passing of new crypto legislation.
