Latest news with #Coinstash
Yahoo
12-05-2025
- Business
- Yahoo
Bitcoin's Bull Run Against Gold Could Accelerate as U.S.-China Trade Tensions Ease: Chart Analysis
Over the past two weeks, bitcoin (BTC) has significantly outperformed gold (XAU), and the bullish trend could intensify further. This outlook is supported by bullish developments in the bitcoin-to-gold ratio, which measures BTC's USD price against gold's USD price per ounce and easing U.S.-China trade tensions. Recently, the ratio broke out of an inverse head-and-shoulders pattern, a classic bottoming formation characterized by a large trough flanked by two smaller ones, with a trendline connecting the recoveries between troughs. The breakout indicates bearish-to-bullish trend change, signaling further bitcoin outperformance. Last week, the ratio topped the trendline, and technical analysis suggests it could rise to at least 35.00 from the current 32.00. This target is derived by adding the spread between the largest trough and the trendline to the breakout point, signaling a potential move higher for Bitcoin relative to gold. The bullish technical set-up is consistent with past data that shows BTC tends to catchup with gold rallies. Gold's meteoric rally peaked above $3,500 on April 22, and since then, the safe haven yellow metal has pulled back over 8% to $3,211, per TradingView data. During the same time frame, BTC's price has risen by nearly 19% to $104,000. With the U.S. and China easing trade tensions early Monday, gold could lose ground while renewed risk-on sentiment powers BTC higher. The two nations agreed to lower tariffs on goods manufactured in both countries, according to a joint statement released in Geneva. China has proposed to reduce tariffs on U.S goods to 10% from 125% for 90 days. Meanwhile, the U.S. has proposed cutting tariffs on Chinese goods to 30% from 145%. "The tariff reduction could see a broader return to risk-on positioning, with crypto and equities both likely to benefit from renewed investor confidence and global capital flows," Mena Theodorou, co-founder of crypto exchange Coinstash, told CoinDesk in an email. "The rally comes as the macro backdrop takes a positive turn: in a landmark move, the U.S. has struck trade deals with both China and the UK, while Putin and Zelensky are set to meet on Thursday to discuss a potential ceasefire. These developments have lifted risk sentiment globally, crypto included," Theodorou added.
Yahoo
18-02-2025
- Business
- Yahoo
FTX Payout, Trump-Musk Interview, FOMC Minutes May Roil Crypto Markets This Week
As bitcoin (BTC) continues to frustrate traders with lackluster price action below $100,000, here are key events this week that could reignite market activity. FTX payout FTX, formerly the world's third-largest digital assets exchange, is set to begin its first round of creditor payouts after going bust in late 2022. First up are Convenience class creditors, those claiming no more than $50,000, who will receive full repayment and a 9% annual post-petition interest. While optimism is high that the recipients will rotate this money into the market, lifting valuations across the board, not everyone agrees. "FTX will distribute approximately $1.2 billion to Convenience Class creditors," Markus Thielen, founder of 10x Research, said in a note to clients Monday. That amount is "too small to move the needle." Thielen said only $7 billion from the remaining $10.5 billion allocated to bigger creditors could be available for potential crypto investment and further, only 50% of the $7 billion could return to the market. Thielen explained that that could result in a net inflow of over $3 billion, which is just one month of net inflows into the bitcoin market. Mena Theodorou, co-founder at crypto exchange Coinstash, expects small creditors to put some money into Solana. "FTX's historic investments in SOL and the Solana ecosystem make it likely that some of these funds will flow back into the network especially since SOL has been a standout performer, rising over 500% in the past year, with strong on-chain activity and developer growth continuing to fuel demand," Thoedorou said in an email, adding SOL could potentially outperform the broader market. Trump-Musk call U.S. President Donald Trump and billionaire investor Elon Musk will sit down with Fox News host Sean Hannity, the network announced Friday. The discussion will likely be focused on issues including politics, tariffs, immigration and potentially digital assets, all of which could breed market volatility. "Trump is set to speak in an exclusive interview with Elon Musk on Fox News on February 19 – just one day before the FOMC meeting on February 20," Coinstash's Theodorou said. "Given Trump's increasing alignment with crypto and Musk's close ties with the space, this interview could drive market volatility, particularly if they touch on policy, regulation, or institutional adoption." Recently, the Trump administration said it would assess the feasibility of a strategic BTC reserve, disappointing the bulls anticipating swift action on the pre-poll promise. FOMC minutes Wednesday will bring the minutes of the Federal Reserve's January meeting when the central bank held interest rates steady. The bank said it was not in a hurry to cut rates and would want to see more progress on inflation. The minutes are likely to repeat that message, especially as CPI and PPI for the month came in hotter than expected, denting the case for a rate-reduction boost to the U.S. economy. Plus, Trump's tariffs continue to raise the specter of inflation. Traders will scan minutes to see if policymakers thought the policy was restrictive, which would mean the next move might still be a rate cut. However, if the minutes suggest otherwise, we could see some volatility in bonds that could potentially weigh on risk assets, including cryptocurrencies. Consensus Hong Kong Consensus Hong Kong, CoinDesk's three-day cryptocurrency- and blockchain-focused event, will kick off Tuesday, featuring a deep dive into the blockchain and Web 3 space. With more than 270 speakers and thousands of attendees from over 90 countries, the three-day affair will likely offer a unique perspective on blockchain technology and digital asset investing in Asia, potentially moving markets.
